Is Land Banking in Lagos Still Profitable in 2026? (Epe vs. Ibeju-Lekki Guide)

If you had bought a plot of land in Lekki Phase 1 in 2005, you wouldn’t just be rich today you would be wealthy. But the window for “cheap” land in Lekki has closed. The question smart investors are asking in 2026 is: Where is the next Lekki?

With the Naira constantly fluctuating, land banking in Lagos has moved from being a luxury to a necessity for preserving wealth. Recent reports from Nairametrics on real estate trends indicate that despite inflation, real estate remains the most stable hedge for Nigerian investors.

But not all land is equal. In this guide, we break down the two hottest investment corridors Ibeju-Lekki and Epe to help you decide where to park your money this year.

What is Land Banking (and Why Do You Need It)?

Land banking is the practice of buying undeveloped land in emerging areas, holding it while infrastructure develops, and selling it for a massive profit.

In Nigeria, it serves two purposes:

1. Inflation Hedge: While the Naira loses value, land prices in Lagos historically rise by 20-50% annually
2. Capital Appreciation: As the city expands, peri-urban land becomes prime real estate.

Key Stat: Land purchased in Sangotedo just 5 years ago has appreciated by over 300% as of 2025.

The Heavyweight Battle: Epe vs. Ibeju-Lekki

When looking for land for sale in Lagos, these two locations dominate the conversation. Here is the honest comparison.

1. Ibeju-Lekki: The Industrial Hub

Often called the “New Lagos,” Ibeju-Lekki is home to the triumvirate of industrial power: The Dangote Refinery, the Lekki Deep Sea Port, and the Free Trade Zone.

• Pros: Massive industrial demand. Multinational companies need land for warehousing and staff housing.
• Cons: Prices have already spiked. Traffic congestion from heavy-duty trucks is becoming a reality.
• Verdict: Best for investors with a higher budget (N15M+) looking for commercial value.
• Read More: How the Dangote Refinery is transforming Ibeju-Lekki real estate.

2. Epe: The Residential Sanctuary

Epe is currently the “darling” of real estate investors in Lagos. With one of the best road networks in the state and a serene environment, it is positioning itself as the residential suburb to the industrial Ibeju-Lekki. Major developments like Alaro City are already setting the standard for modern infrastructure in the axis.

• Pros: Extremely affordable entry point (N2M – N5M). Excellent roads. It is becoming a university and resort hub.
• Cons: It is a longer-term hold (5+ years) compared to Ibeju-Lekki.
• Verdict: Best for smart beginners and those looking for maximum ROI over the next decade.

3 Risks to Avoid When Buying Land in Lagos

The horror stories of “omo onile” (land grabbers) are real, but avoidable if you know what to look for.

1. Title is Everything: Never buy land without verifying the title. You can verify land status directly through the Lagos State Land Registry. A “Freehold” is good, but a Certificate of Occupancy (C of O) or Governor’s Consent is the gold standard.
2. Avoid “Committed” Lands: Some cheap land in Lagos is actually government-committed land (agricultural or committed acquisition). You will never be able to perfect your papers on these.
3. Dry vs. Wet Land: Epe is mostly dry land (saves you millions in sand-filling), while parts of Ibeju-Lekki are swampy. Always visit the site during the rainy season.

The 2025 Forecast: Where Should You Invest?

According to BusinessDay’s 2025 market outlook, the demand for secure, gated land is at an all-time high as investors flee volatile currency markets.

• If you have N20M+: Buy commercial plots in Ibeju-Lekki near the Deep Sea Port.
• If you have N2M – N5M: Buy multiple plots in Epe (specifically Ketu-Epe or near the Alaro City axis).

Land banking in Lagos is not a get-rich-quick scheme; it is a get-wealthy-sure scheme. The best time to buy land was 20 years ago. The second best time is today.

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