Is real estate a good investment for Nigerians in the long run? This is a question on the lips of many Nigerians in recent times due to the anomalies in the industry and the atrocities being committed by the players in the industry.

The truth is Nigeria is in one of its most challenging economic eras — high inflation, currency volatility, insecurity and unreliable savings returns.

That’s why more young professionals, students, and diaspora Nigerians are turning to real estate.

They don’t just want an investment but to secure their money against future uncertainties.

But there is the unpopular opinion that land appreciation only happens in places like Lagos or Abuja or Portharcourt. Is this true or is it happening across Nigeria?

This post explores how real estate has grown nationwide — and how you can spot the next profitable city, even with limited capital.

 

Is Real Estate a Good Investment for Nigerians in the Long Run? See Nationwide Growth in Real Estate

From Kano to Enugu, Ilorin to Kuje, and beyond, real estate in Nigeria has shown strong upward movement — not just in pricing, but in infrastructure, demand, and population value.

Let’s look at key regions and the developments that drove their growth.

Kano (Northwest Nigeria)

Neighbourhoods like Hotoro, Sabon Gari, and Nassarawa GRA were once “outskirt towns”.

But they’ve grown in estate development, commerce, and road upgrades over the years. This is due to key factors such as:

  • Expansion of private schools and medical centers
  • Proximity to industrial corridors and GRA upgrades
  • Gradual recovery after security problems around 2018 – 2021

FCT Satellite Towns (Kubwa, Kuje, Gwagwalada)

Abuja’s cost of living pushed many middle-class families out of the central city. They moved to places like Kubwa and Kuje.

With time, these locations increased in land value due to specific factors such as:

  • Civil service migration
  • Widened expressways & mass housing projects
  • Nearby educational institutions and rail infrastructure

Idu, in particular, is now an industrial hub because of the Abuja Metro Rail, dry ports, and proximity to the Nnamdi Azikiwe Airport corridor.

Ilorin (Kwara State)

While Ilorin’s growth is quiet and not as big as most cities in Nigeria, smart investors have seen how locations like Asa Dam, Ganmo, and Fate have developed over time.

This is because of key drivers such as:

  • University and polytechnic expansions
  • Government relocation incentives for civil servants
  • Roadworks and estate layout approval

Kaduna

Southern Kaduna, Sabon Tasha, Romi, and environs have become so big now, thanks to government spending and NGO projects.

 

Other key factors that contributed to its growth are 

  • Road expansion, and 
  • Population growth, especially with Abuja-Kaduna commuters settling in.

When I talk to people, especially young folks (Gen Z) about real estate, their response is, is real estate a good investment for Nigerians? We’re talking about Crypto, Forex, you’re talking about real estate.

From the breakdown above, you can see that real estate is not an asset class to ignore.

Lessons from Past Real Estate Booms

If you study all the examples I made above, you will notice a common pattern:

Infrastructure → Population Growth → Increase in Demand → Price Explosion

Let’s apply this to 3 cities:

1. Ibeju-Lekki

This place was once considered a remote swampland. Within a few years, it exploded big time thanks to these factors:

  • The construction of the Lekki-Epe Expressway
  • Private and public projects like Dangote Refinery, Free Trade Zone, Deep Seaport, and Alaro City have been launched
  • Unveiling of proposed plans for the Lekki Airport, Coastal Highway, and Green Line Rail

2. Epe

Epe was once known to be a fishing village in the backyards of Lagos. But everything changed when:

  • The Lekki-Epe Road was upgraded in 2017
  • Retail and logistics businesses followed
  • Schools, banks, and estates moved in
  • Population and transport hubs created new value

Now, the Fourth Mainland Bridge has been proposed. It brings even more value to the land in Epe as it’d directly link the island to the Lagos Mainland, helping commuters skip the stress of using only the Lekki-Epe Road.

The real estate growth in Epe silenced a lot of critics who ask the question, is real estate a good investment for Nigerians?

3. Ikorodu

This was a forgotten “Lagos backyard” that became an industrial, commercial, and residential asset faster than anyone could have imagined. I remember when I was younger and people spoke about this place- you’d think it was a forest next to Sagamu. 

But it became a big deal all because:

  • The Lagos-Ikorodu Road was repaired and expanded 
  • The Ikorodu-Sagamu Highway was also upgraded 
  • The location allowed direct access to Lagos for Sagamu dwellers

This not only brings lots of families, but it also brings companies with their offices and manufacturing plants. All of these brought about the Odogunyan Industrial Estate, the Lagos Rice Mill, and the Dangote Plant, which created jobs, increased the number of tenants, and created long-term housing needs.

Read Also: What is the Future of Real Estate in Nigeria

The Drivers Behind Long-Term Growth

From everything you have read so far, it is very obvious that you must look out for 3 major things if you want the best out of your real estate investment in Nigeria:

1. Urban Migration

People follow opportunity. 

Look at cities like Abuja, Benin, and Ilorin. They all grew because of universities, ministries, or industrial expansion.

If you want to invest, I’d advise you to watch for where new jobs and infrastructure go. And follow fast!

2. Major Infrastructural Projects

Whenever you see the government planning roads, airports, railways, and seaports, just know that the land around those places will soon become hot cakes!

Look at these examples again:

  • Lekki-Epe Expressway (Epe)
  • Ijebu-Sekungba Highway (Omu-Ketu)
  • Ibadan-Eruwa Expressway (Ido)
  • Abuja Metro Rail (Idu)

I hope you can see this pattern. Anywhere development surrounds migration or even a small population, just know that there will be an increase in value very soon.

The best decision you can make in that case is to buy earlier so you can get the most returns later.

3. Public-Private Partnerships & Industrial Projects

Sometimes, it’s not only the government that makes areas boom- private projects also do!

Examples:

But don’t stop there. Also, look out for government/private initiatives that are geared towards urban growth. A close example is the recent Family Homes Funds Ltd- a joint-venture housing project that will run in 12+ states.

 

NOTE: Real Estate is No Longer Just for the Wealthy

Before now in Nigeria, only the wealthy could really afford real estate. As such, the average-earning person could find it very hard to buy land in a place that has the capacity to appreciate quickly.

But today, real estate developers now offer different packages that allow you to invest in promising areas without breaking the bank. Some of them include:

  • Flexible installment plans
  • Entry points as low as ₦100 – ₦300k deposit
  • Verified plots in places like Ido (Ibadan), Osongama (Uyo), Omu-Ketu (Ogun), Gwagwalada (FCT), and Benin suburbs

Because of this, young professionals and Nigerians in diaspora can now build wealth consistently with real estate- without heavy capital.

 

4 Smart Things You Must Know Before Buying Land

  1. Always verify documents: Look out for C of O, survey plans, or deed.
  2. Buy ahead of growth: Don’t wait for prices to go up before you buy!
  3. Work with registered developers: Many land deals are too good to be true. No land agent in Epe will sell a plot for less than ₦1.5 million. Avoid cheap scams.
  4. Avoid emotional hype: While real estate is great, doing your research is better. Don’t just follow the hype, research the hype!

Real Also: 14 Mistakes to Avoid as a Real Estate Investor in Nigeria

So, is real estate investment a good investment for Nigerians in the long run?

The answer is YES.

With the way real estate has proved to have created wealth for many in the past, it’s certain the future is even brighter.

For example, in 2023, real estate outgrew crude petroleum and natural gas, financial institutions, beverages, food, and tobacco and other services

That’s is a huge sign that real estate is a dependable asset class.

 

Now, What Do You DO?

You’ve seen everything

  • What has made money for people who bought a long time ago
  • What is making money now for smart investors
  • What can make money for you, too

You’ve seen how land transforms once projects, people, and companies come to a place.

So what do you do next?

1. Re-read this guide and pick a growth location

2. Kick out every doubt or distraction from your mind. This can be things like 

  • “My salary will not be okay.”
  • “I need to tell my mummy first.”
  • “I’m waiting for my big career break”.

3. Start researching trusted developers or estate projects
4. DM @possilaproperties on Instagram with any questions you may have

 

All of Nigeria is yours for the taking. Make a decision today and start building a financial future you will surely love!