A Billionaire’s Paradise in Nigeria: Banana Island

The man-made island, famously known as the Banana island, positioned off the foreshore of Ikoyi, Lagos is the Nigerian answer to New York’s Tribeca and Pari’s Seventh Arrondissement. Completed in the year 2000, the Banana island is a billionaire’s paradise and is home to the country’s wealthiest families. The island represents a peaceful and tranquil atmosphere and is a real-estate paradise.

The land is an abode for those who savor a quiet life while being surrounded by the most elite class of the country. Encompassing a 1.63 million square meter land, this sand-filled island sits in the ceremonial and commercial heart of Lagos. Well connected with a dedicated road, with a road network near Parkview Estate, First Avenue in the northern region, and the Second avenue in its perimeter, Banana island offers the best and most expensive listings in the market. 

According to Roberta Nouboue, the managing director of Madingwa Real Estate, the value of land stands at US$ 1,101 per square meter (NGN400,000). The island offers prominent condo developments, lake point apartments, and Bella vista towers with top-notch amenities such as an Olympic-size pool, tennis court, and multiple gyms. 

While Banana Island houses the most gorgeous and uber-exclusive enclaves, it is the secluded part and beauty of the island that sets it apart. The place is a heaven and offers an escape from the monotonous urban life. It is the perfect luxurious off-the-grid living solution for the wealthy and prominent people of Nigeria. 

With little to no traffic, world-class roads, 24/7 street lighting, and closeness to the Lagoon waters, the island is perfect to have late-night peaceful walks and early morning jogs without any pollutants. Moreover, the land offers a high societal status. While the island has a café, large supermarket, and a barbershop to offer its residents, with just a 12-minute car ride, you can head to the chic and classy shopping centers, along with Victoria Island that closely resembles Manhattan.

This private luxury getaway comes with the thrills of amazing restaurants that specialize in international dishes and elegant weekend outings. For art lovers that seek solace in Banana island have the perfect spot which is just a 5-minute car ride away at Ikoyi. From arthouse contemporary to local auction houses, Nigerian National Museum, and Wheatbaker hotel, art connoisseurs can attend the art-related exhibits and events. 

More than that, Ikoyi is a shopper’s paradise with exclusive shops that include high fashion clothing brands from Nigerian designers and handbag purveyor Zashadu. To add a touch of African art in fashion and furnishings, the Victoria island shop, Alara is worth a visit.

The island also houses some great educational institutions offering world-class academic and extra-curricular exposure. While Banana island school enrolls girls and boys in the age bracket of 1-5 years and OliveDale Preparatory school for nursery to primary education, there are top-notch schools in Ikoyi offering boarding options as well. 

The residents of Banana island are attracted to the cutting-edge infrastructure which is unavailable in the rest of the country. From underground electrical and water systems, steel lightning to central sewage systems, sewage treatment plants, and satellite telecommunication networks, the island provides it all. 

Besides the wealthiest Nigerian people making Banana island their solace home, the island attracts a lot of ex-pats from Britain, the US, France, and India. Being an idle place for families, the island is the perfect residential spot for retired people who look for a luxurious lifestyle away from the hustles of city life. 

Banana Island, being nearly two decades old, still has not found competition for itself in the real estate market. With easy access to the mainland, closeness to the airport yet a peace offering for families who can raise their kids around the most intellectual groups, in the lap of nature.