Breakdown of the Cost of Land in Nigeria by state

Acquiring land in Nigeria is one of the most significant investments an individual or business can make.

Whether for residential, commercial, or agricultural purposes, understanding the cost of land across different states is crucial for making informed decisions. Land prices vary widely depending on location, infrastructure, government policies, and economic activities.

This guide provides an in-depth analysis of land costs across Nigerian states, the factors influencing these prices, and recommendations for prospective buyers and investors.

Factors Affecting Land Prices in Nigeria

1. Location & Urbanization

The cost of land is heavily influenced by its location. Urban areas such as Lagos, Abuja, and Port Harcourt have significantly higher land prices due to demand, economic activities, and population density. In contrast, rural areas tend to have more affordable land. Locations close to major roads, business districts, and commercial hubs tend to be more expensive than land in developing or undeveloped regions.

2. Government Policies & Regulations

Government regulations, such as the Land Use Act, zoning laws, and land tenure systems, affect pricing. Certain states have stricter land acquisition procedures, while others offer incentives for investors. Some state governments actively promote land ownership by offering subsidized land for housing projects, while others impose heavy fees for obtaining Certificates of Occupancy and land permits.

3. Infrastructure Development

Availability of good roads, electricity, water supply, and other infrastructure significantly impacts land value. Areas with ongoing government projects or private developments often see rapid increases in land prices. For instance, the expansion of the Lagos-Ibadan Expressway has contributed to increased land values in Mowe, Ibafo, and Sagamu.

4. Economic Activities & Commercial Value

States with strong commercial and industrial activities tend to have higher land prices. Lagos, for example, is Nigeria’s economic hub, leading to skyrocketing real estate costs. Similarly, areas around major ports, airports, and industrial zones experience rising land values due to increased demand from businesses and investors.

5. Land Title & Documentation Issues

The type of land title (e.g., Certificate of Occupancy, Governor’s Consent, Excision, Deed of Assignment) can influence price.

Land with proper documentation is more expensive than land with unclear or disputed ownership. Many prospective land buyers prefer real estate developments with verified titles to avoid legal complications.

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Breakdown of Land Costs by State

South-Western States

Lagos State

• Ikoyi, Victoria Island: ₦400,000 – ₦1,500,000 per square meter
• Lekki Phase 1: ₦150,000 – ₦600,000 per square meter
• Ajah, Sangotedo: ₦50,000 – ₦200,000 per square meter
• Ikorodu, Epe: ₦5,000 – ₦50,000 per square meter
• Badagry: ₦3,000 – ₦20,000 per square meter

Ogun State

• Abeokuta: ₦10,000 – ₦50,000 per square meter
• Mowe, Ibafo: ₦3,000 – ₦15,000 per square meter
• Sagamu: ₦7,000 – ₦30,000 per square meter

Oyo State

• Ibadan city center: ₦20,000 – ₦100,000 per square meter
• Moniya, Apata: ₦5,000 – ₦20,000 per square meter

Ondo, Ekiti, Osun States

• Prices range between ₦5,000 – ₦50,000 per square meter in urban areas, lower in rural locations.

South-Eastern States

Anambra State

• Awka, Onitsha: ₦30,000 – ₦200,000 per square meter
• Outskirts: ₦5,000 – ₦20,000 per square meter

Enugu, Imo, Abia, Ebonyi States

• Urban areas: ₦10,000 – ₦100,000 per square meter
• Rural areas: ₦2,000 – ₦10,000 per square meter

South-South States

Rivers State

• Port Harcourt: ₦50,000 – ₦300,000 per square meter
• Outskirts: ₦5,000 – ₦30,000 per square meter

Edo, Delta, Akwa Ibom, Bayelsa, Cross River States

• Urban areas: ₦10,000 – ₦150,000 per square meter
• Rural areas: ₦2,000 – ₦20,000 per square meter

North-Central States

FCT Abuja

• Maitama, Asokoro, Wuse: ₦200,000 – ₦1,000,000 per square meter
• Gwarinpa, Kubwa: ₦50,000 – ₦200,000 per square meter
• Satellite towns: ₦10,000 – ₦100,000 per square meter

Kwara, Kogi, Benue, Nasarawa, Plateau, Niger States

• Urban areas: ₦5,000 – ₦50,000 per square meter
• Rural areas: ₦2,000 – ₦10,000 per square meter

North-Western States

Kano, Kaduna

• Prime locations: ₦10,000 – ₦150,000 per square meter
• Rural areas: ₦2,000 – ₦10,000 per square meter

Sokoto, Katsina, Zamfara, Kebbi, Jigawa

• Generally lower prices: ₦2,000 – ₦50,000 per square meter

North-Eastern States

• Due to security concerns, land prices are generally lower.
• Urban areas: ₦5,000 – ₦50,000 per square meter
• Rural areas: ₦1,000 – ₦10,000 per square meter

Comparison of Land Prices Across Nigeria

• Most Expensive States: Lagos, Abuja, Rivers
• Most Affordable States: Kebbi, Jigawa, Yobe
• Average Cost Per Square Meter in Major Cities: ₦50,000 – ₦500,000

Where to Get Affordable Land in Nigeria

1. Emerging Real Estate Hotspots: Epe (Lagos), Mowe (Ogun), Karu (Nasarawa), Uyo (Akwa Ibom)
2. Government-Backed Land Schemes: Federal Housing Schemes, State Government Allocations
3. Private Estate Developments: Land sold by real estate companies with instalment payment options

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Conclusion

Land prices in Nigeria vary widely based on location, infrastructure, and economic activities. While major cities like Lagos, Abuja, and Port Harcourt command high prices, there are still affordable options in emerging areas.

Before purchasing land, it’s essential to conduct proper due diligence, verify land titles, and consider future development prospects. Whether for investment or personal use, understanding land pricing trends can help you make the best decision.