Best States In Nigeria To Have A Real Estate Business —
Real estate is a business with very great potential. The business has the potential to generate a lot of income.
Furthermore, this business is relatively easy to start up, if investment fund is not a problem. A real estate business will thrive in any state of the country, if managed properly.
However, this business is more lucrative in some states in Nigeria than in some other state. This article was written to create enlightenment about best states in Nigeria to have a real estate business.
When it comes to states in Nigeria where real estate is lucrative, Lagos State is the first state that comes into the picture. This state is a very wealthy state in the country.
In fact, many people consider it the richest in the country. The state has the highest GDP in Nigeria, even ahead of the capital of the country, Abuja.
This state was once the capital of Nigeria, but it is still the commercial capital of Nigeria. Lagos State is a hub of economic activities, it houses a lot businesses.
Lagos State houses a lot of great cities in Nigeria. It houses Lagos Metropolitan Area and Lekki City. Despite Lagos Metropolitan Area is a small city by geographical area, the city is the largest in Nigeria by population. Lekki on the other hand is the most expensive city in the country.
In addition, the city houses the iconic Banana Island in Lagos. When foreign investors look for places to start a business in Africa, this state is often one of the first places they look in. The state has highly favorable business and economic policies.
The nature and population of Lagos State make the state a great state to have a real estate business. Real estate business owners in Lagos are well-known to be successful.
It is no surprise that the state houses the highest number of hotels in Nigeria. Lagos State furthermore houses the most expensive hotel in Nigeria. It houses a lot of 5-star hotels in the country.
When looking forward to starting a real estate business, Lagos State is the ideal place to start.
Abuja — Federal Capital Territory (FCT)
Abuja is the Federal Capital Territory (FCT) of Nigeria. This location became the Federal Capital Territory (FCT) on December 12, 1991, after the federal government felt the need to move the country’s capital to a place considered the center of all major ethnic group regions in Nigeria.
Abuja was mainly built in the 1980s, and it has grown to become one of the best places to have a real estate business. Abuja has repeatedly been named the fastest growing place in the world. Although, it is not presently the fastest growing place in the world, it is however among the top fastest growing places in the world.
Abuja houses a good number of important places in Nigeria. Some of these places in question include: the Presidential Complex, the National Assembly, the Supreme Court of Justice, the Nigerian National Mosque, the Nigerian National Christian Centre and Nnamdi Azikiwe International Airport.
The federal government of Nigeria gives special attention to the development of the Federal Capital Territory (FCT). In fact, there is ministry dedicated to the affairs of this place. When looking forward to having a real estate business, Abuja is another ideal place to have a real estate business.
Ogun State is one of the most industrialized states in Nigeria. The state furthermore ranks among Nigerian states with the highest GDP. Ogun was created in February 1976, from the former Western State.
The state is home to a lot of real-estate-lucrative cities and towns like Ijebu Ode, Ijebu Imusin, Sagamu, Ijebu Igbo, Ogere Remo, Iperu, Ilisan Remo, Ikenne, Ilaro, Ayetoro, Agbado, Akute and Ota.
It houses the popular Dangote cement company. Dangote cement company is not the only company housed by this state, it also houses the following companies: Nestle, Lafarge Cement factory, Coleman Cables, and Procter & Gamble.
A lot of renowned personalities (late and present) also have one form of business or the other, in Ogun State. Some of these personalities include: Adegboyega Dosunmu Amororo II, Adeoye Lambo, Adebayo Adedeji, Adebayo Ogunlesi, Afolabi Olabimtan, Bola Ajibola, Cornelius Taiwo, Chief Olu Oyesanya, Olawunmi Banjo, Fela Anikulapo Kuti, Funmilayo Ransome-Kuti, Hannah Idowu Dideolu Awolowo, Idowu Sofola, Jubril Martins-Kuye, Kehinde Sofola, Kemi Adeosun, Kuforiji Olubi, MKO Abiola, Mike Adenuga, Olusegun Obasanjo, Obafemi Awolowo Ola Rotimi, Otunba Gbenga Daniel, Oladipo Diya, Peter Akinola, Salawa Abeni, Tunde Bakare, Tai Solarin, Bisi Onasanya, Abraham Adesanya, Wole Soyinka, Yemi Osinbajo, Adewale Oke Adekola, and Oba Otudeko.
Ogun State is the state with the highest number of private institutions. It houses the renowned Covenant University. It also houses universities like Adetokunbo University (Sagamu), Babcock University (Ilisan Remo), Bells University of Technology (Ota), Crawford University (Igbesa), Crescent University, (Abeokuta), and McPherson University. Ogun State has very favorable business policies; when looking for best places to start a real estate business, it wouldn’t be ideal to overlook this state.
Rivers State is the most important state in the eastern part of the country. It is more important than Delta State. Behind Lagos State, and ahead of Delta State and Ogun State, Rivers State ranks second on the list of states with the highest GDP in Nigeria. This state is home to Port Harcourt, a very important city in Nigeria. Rivers is an oil-producing state, and there is a free flow of cash in the state. Rivers is the richest state in Nigeria, in terms of oil. Among states with the highest population in the country, also comes this state.
There are many places in Rivers State, where an individual can have a real estate business. The following are some ideal place to have a real estate business in the state: Abalama, Abonnema, Ahoada, Ataba, Bane, Bonny, Bori, Buguma, Elele, Emohua, Igrita, Igwuruta, Nkoroo, Odiabidi, Okobie, Okrika, Omoku, Onne, Opobo, Port Harcourt, and Rumuokoro.