Ogun State’s Strategic Developments Signal Promising Prospects for Real Estate Stakeholders
Ogun State is rapidly emerging as a focal point for real estate investment in Nigeria, driven by a
series of government-led initiatives aimed at fostering growth, enhancing infrastructure, and
ensuring regulatory compliance.
These developments present significant opportunities for
investors, realtors, and real estate firms.
Furthermore, the Ogun State Property and Investment Corporation (OPIC) has announced
plans to develop 100 hectares of residential estates in the Sagamu axis and other parts of the
state in 2025. This move is expected to address housing deficits, stimulate economic growth,
and provide safe homes for residents.
Infrastructure Projects Enhancing Accessibility
The ongoing construction of the Lagos-Calabar Coastal Highway, a 700-kilometer project
traversing Ogun State, is set to revolutionize transportation and boost tourism. Upon
completion, the highway will enhance connectivity between western and southeastern regions of
Nigeria, facilitating trade and attracting investments into the state’s real estate sector.
Additionally, the state’s 2025 budget of N1.05 trillion, tagged the “Budget of Hope and
Prosperity,” allocates substantial funds for critical infrastructure, including road development,
housing, and healthcare. These investments are poised to create a conducive environment for
real estate activities and improve the overall quality of life for residents.
Regulatory Measures Ensuring Sector Integrity
To maintain the integrity of the real estate sector, the Ogun State Government has issued
warnings against the resale of allocated lands under the Ibara Regeneration Scheme. Allottees
are mandated to commence development within 60 days of allocation, failing which the
government reserves the right to revoke such allocations. This measure aims to curb land
speculation and ensure that developments align with the state’s vision of creating world-class
residential areas.
Moreover, the government has cautioned against unauthorized land sales and advertisements,
emphasizing the need for developers to obtain proper layout approvals before marketing land
parcels. This directive seeks to protect prospective buyers from fraudulent transactions and
uphold planning standards within the state.
Ogun State’s concerted efforts in infrastructure development, regulatory enforcement, and
investor-friendly policies underscore its commitment to transforming the real estate landscape.
These initiatives not only enhance the state’s appeal to investors and developers but also
promise sustainable growth and prosperity for its residents.
