Is Ibadan the Next Lagos? Property Prices Are Rising—Here’s What to Expect
BY: Landnest Homes And Properties
BY: Landnest Homes And Properties
Friday, January 23, 2026
January 23, 2026
A City on the Rise
For decades, Lagos has been Nigeria’s real estate giant, the city where property values multiply and fortunes are made. Ogun State, Lagos’s neighbor, rode on that momentum as people and industries spilled outward.
But a new name has entered the conversation: Ibadan. Nigeria’s third-most populous city is seeing property prices rise at a pace that recalls Lagos in its early years of expansion. Developers are flooding in, estates are springing up, and suburban land once ignored is now hot property.
The question investors are asking is simple but powerful: Is Ibadan becoming the next Lagos?
The Lagos Story: From Expensive to Out of Reach
Lagos’s real estate boom offers lessons.
Rapid Urbanization: As Nigeria’s economic capital, Lagos attracted millions seeking work. Land demand outpaced supply.
Infrastructure Pressure: Roads, bridges, and housing estates expanded to meet needs, but demand kept prices high.
Price Explosion: Plots in Lekki that once sold for ₦500,000 in the late 1990s now sell for tens of millions. Ajah, Ibeju-Lekki, and even Epe have followed the same path.
Today, in many parts of Lagos, affordable entry points are gone. For first-time buyers, Lagos is less about opportunity and more about survival.
A City on the Rise
For decades, Lagos has been Nigeria’s real estate giant, the city where property values multiply and fortunes are made. Ogun State, Lagos’s neighbor, rode on that momentum as people and industries spilled outward.
But a new name has entered the conversation: Ibadan. Nigeria’s third-most populous city is seeing property prices rise at a pace that recalls Lagos in its early years of expansion. Developers are flooding in, estates are springing up, and suburban land once ignored is now hot property.
The question investors are asking is simple but powerful: Is Ibadan becoming the next Lagos?
The Lagos Story: From Expensive to Out of Reach
Lagos’s real estate boom offers lessons.
Rapid Urbanization: As Nigeria’s economic capital, Lagos attracted millions seeking work. Land demand outpaced supply.
Infrastructure Pressure: Roads, bridges, and housing estates expanded to meet needs, but demand kept prices high.
Price Explosion: Plots in Lekki that once sold for ₦500,000 in the late 1990s now sell for tens of millions. Ajah, Ibeju-Lekki, and even Epe have followed the same path.
Today, in many parts of Lagos, affordable entry points are gone. For first-time buyers, Lagos is less about opportunity and more about survival.
Ogun’s Ride on Lagos’s Wave
Ogun State benefited directly from Lagos’s congestion. Areas like Mowe, Ibafo, and Arepo became home to thousands who work in Lagos but live in Ogun.
Commuter Settlements: Improved Lagos–Ibadan expressway access made Ogun attractive.
Lower Prices: Plots that were ₦1M a decade ago in Mowe now cost ₦5M–₦8M.
Industrial Growth: Agbara and Sagamu attracted factories, further fueling demand.
Ogun’s lesson is clear: when one city overheats, surrounding states absorb the spillover, and land values rise rapidly.
Ibadan Today: The Early Signs of a Boom
Ibadan is now showing the same signals that Lagos and Ogun displayed before their spikes:
Population Growth: With over 3.6 million people, Ibadan is Nigeria’s third-largest city, and still expanding.
Infrastructure Push:
Lagos–Ibadan Expressway upgrades cut travel time.
Standard-gauge railway connects Ibadan to Lagos in under two hours.
New roads and bridges link suburbs like Moniya, Egbeda, and Ido to the city core.
Industrial Expansion: Oluyole Industrial Estate and new agro-allied industries in Egbeda and Ido are attracting workers.
Estate Development: Developers are aggressively launching estates in Moniya, Igbo-Oloyin, Egbeda, and Apata.
Diaspora Interest: Nigerians abroad, priced out of Lagos, are turning to Ibadan for affordable but documented property.
Price Movements
Plots in Moniya once sold for ₦250,000–₦400,000 five years ago; today they command ₦800,000–₦1.5M.
Egbeda plots that were ₦600,000–₦800,000 are now ₦2M–₦3.5M depending on location and documentation.
Prime estates in Apata are pushing ₦5M–₦7M, reflecting middle-class demand.
Ogun’s Ride on Lagos’s Wave
Ogun State benefited directly from Lagos’s congestion. Areas like Mowe, Ibafo, and Arepo became home to thousands who work in Lagos but live in Ogun.
Commuter Settlements: Improved Lagos–Ibadan expressway access made Ogun attractive.
Lower Prices: Plots that were ₦1M a decade ago in Mowe now cost ₦5M–₦8M.
Industrial Growth: Agbara and Sagamu attracted factories, further fueling demand.
Ogun’s lesson is clear: when one city overheats, surrounding states absorb the spillover, and land values rise rapidly.
Ibadan Today: The Early Signs of a Boom
Ibadan is now showing the same signals that Lagos and Ogun displayed before their spikes:
Population Growth: With over 3.6 million people, Ibadan is Nigeria’s third-largest city, and still expanding.
Infrastructure Push:
Lagos–Ibadan Expressway upgrades cut travel time.
Standard-gauge railway connects Ibadan to Lagos in under two hours.
New roads and bridges link suburbs like Moniya, Egbeda, and Ido to the city core.
Industrial Expansion: Oluyole Industrial Estate and new agro-allied industries in Egbeda and Ido are attracting workers.
Estate Development: Developers are aggressively launching estates in Moniya, Igbo-Oloyin, Egbeda, and Apata.
Diaspora Interest: Nigerians abroad, priced out of Lagos, are turning to Ibadan for affordable but documented property.
Price Movements
Plots in Moniya once sold for ₦250,000–₦400,000 five years ago; today they command ₦800,000–₦1.5M.
Egbeda plots that were ₦600,000–₦800,000 are now ₦2M–₦3.5M depending on location and documentation.
Prime estates in Apata are pushing ₦5M–₦7M, reflecting middle-class demand.
Why Ibadan Is Drawing Comparisons to Lagos
1. Proximity to Lagos Without Its Chaos
With better roads and rail, Ibadan offers accessibility to Lagos’s economy while escaping its congestion and costs.
2. Affordability at Scale
Unlike Lagos, Ibadan still has vast land available. This allows large estate projects with payment flexibility—something almost impossible in Lagos now.
3. Cultural and Educational Magnet
The University of Ibadan, Polytechnic Ibadan, and cultural landmarks keep Ibadan vibrant and attractive for families, students, and professionals.
4. Industrial Anchor
Just as Lagos had Apapa and Ogun had Agbara, Ibadan has Oluyole Industrial Estate and emerging clusters in Ido and Egbeda.
Risks and Realities for Investors
No market is without risks. For Ibadan:
Documentation Issues: Historically, disputes over land ownership have scared off investors. Today, professional developers like Landnest are solving this with registered surveys and allocation documents.
Infrastructure Delays: Not all promised projects arrive on time. Investors must be patient.
Speculation Hype: As word spreads, some agents inflate prices. Careful due diligence is key.
Still, these risks are outweighed by opportunity. Ibadan is in the “early growth” stage where prices are still manageable, but rising steadily.
Who Should Be Paying Attention
First-Time Buyers: Moniya, Igbo-Oloyin, and Egbeda offer entry-level prices and flexible payment structures.
Diaspora Nigerians: With dollars or pounds, the affordability of Ibadan estates becomes even more attractive.
Investors: Those looking for long-term appreciation should land-bank now before prices double in 5–10 years.
Families: Seeking quieter, planned communities outside Lagos chaos but with connectivity.
Why Ibadan Is Drawing Comparisons to Lagos
1. Proximity to Lagos Without Its Chaos
With better roads and rail, Ibadan offers accessibility to Lagos’s economy while escaping its congestion and costs.
2. Affordability at Scale
Unlike Lagos, Ibadan still has vast land available. This allows large estate projects with payment flexibility—something almost impossible in Lagos now.
3. Cultural and Educational Magnet
The University of Ibadan, Polytechnic Ibadan, and cultural landmarks keep Ibadan vibrant and attractive for families, students, and professionals.
4. Industrial Anchor
Just as Lagos had Apapa and Ogun had Agbara, Ibadan has Oluyole Industrial Estate and emerging clusters in Ido and Egbeda.
Risks and Realities for Investors
No market is without risks. For Ibadan:
Documentation Issues: Historically, disputes over land ownership have scared off investors. Today, professional developers like Landnest are solving this with registered surveys and allocation documents.
Infrastructure Delays: Not all promised projects arrive on time. Investors must be patient.
Speculation Hype: As word spreads, some agents inflate prices. Careful due diligence is key.
Still, these risks are outweighed by opportunity. Ibadan is in the “early growth” stage where prices are still manageable, but rising steadily.
Who Should Be Paying Attention
First-Time Buyers: Moniya, Igbo-Oloyin, and Egbeda offer entry-level prices and flexible payment structures.
Diaspora Nigerians: With dollars or pounds, the affordability of Ibadan estates becomes even more attractive.
Investors: Those looking for long-term appreciation should land-bank now before prices double in 5–10 years.
Families: Seeking quieter, planned communities outside Lagos chaos but with connectivity.
Why Young Buyers Should Act Now
For young Nigerians, the key advantage is time. Buying land in your twenties or thirties means you can hold, wait, and watch value grow.
Rent vs. Ownership: Instead of spending ₦500,000 annually on rent, redirecting that money into a plot in Igbo-Oloyin secures an asset that appreciates.
Generational Wealth: Parents who buy land today can pass it to their children tomorrow.
Peace of Mind: Land is tangible, enduring, and less volatile than other investments.
Landnest’s Role in Moniya and Igbo-Oloyin
At Landnest, we believe affordability should not mean compromise. Our estates in Moniya and Igbo-Oloyin are designed for young buyers who want more than just land—they want peace of mind.
We provide:
Transparent Documentation: Registered surveys, allocation letters, and clear layouts.
Flexible Payments: Spreading cost over months, reducing financial pressure.
Secure Communities: Gated estates with planned infrastructure like roads, drainage, and streetlights.
Advisory Support: Guidance on choosing the right plots based on your budget and goals.
Our vision is simple: help the next generation of Nigerians achieve economic independence by starting with land.
Why Young Buyers Should Act Now
For young Nigerians, the key advantage is time. Buying land in your twenties or thirties means you can hold, wait, and watch value grow.
Rent vs. Ownership: Instead of spending ₦500,000 annually on rent, redirecting that money into a plot in Igbo-Oloyin secures an asset that appreciates.
Generational Wealth: Parents who buy land today can pass it to their children tomorrow.
Peace of Mind: Land is tangible, enduring, and less volatile than other investments.
Landnest’s Role in Moniya and Igbo-Oloyin
At Landnest, we believe affordability should not mean compromise. Our estates in Moniya and Igbo-Oloyin are designed for young buyers who want more than just land—they want peace of mind.
We provide:
Transparent Documentation: Registered surveys, allocation letters, and clear layouts.
Flexible Payments: Spreading cost over months, reducing financial pressure.
Secure Communities: Gated estates with planned infrastructure like roads, drainage, and streetlights.
Advisory Support: Guidance on choosing the right plots based on your budget and goals.
Our vision is simple: help the next generation of Nigerians achieve economic independence by starting with land.
Conclusion: Act Before the Window Closes
History leaves patterns. Lagos priced out the middle class. Ogun offered relief for a while but is now climbing fast. Ibadan is at the sweet spot—affordable, connected, and expanding.
The investors who move now will enjoy the kind of appreciation that Lagos landowners boast about today.
Send “IBADAN” via WhatsApp today to speak with a Landnest advisor and secure documented land in Ibadan’s growth zones.
Conclusion: Act Before the Window Closes
History leaves patterns. Lagos priced out the middle class. Ogun offered relief for a while but is now climbing fast. Ibadan is at the sweet spot—affordable, connected, and expanding.
The investors who move now will enjoy the kind of appreciation that Lagos landowners boast about today.
Send “IBADAN” via WhatsApp today to speak with a Landnest advisor and secure documented land in Ibadan’s growth zones.
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LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
Registered under EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.