If you’ve been asking yourself, “Should I buy land in Ibadan or Lagos in 2026?” you’re not alone.

Right now, one of the most searched long-tail questions in Nigerian real estate is “buy land in Ibadan or Lagos for investment.” People want clarity. No hype. No agent pressure. Just honest numbers.

Land prices are rising. Rent is increasing. Infrastructure is expanding. But risk is also real.

In this detailed guide, I’ll break down:

Actual cost differences

Risk factors (OMO ONILE wahala included)

Rental and resale ROI

Who should invest where

Real-life case studies from my field experience

By the end, you’ll know exactly where your money should go.

Let’s talk truth.

Understanding the Parent Keyword: Nigerian Property Investment

Before we zoom in, let’s address the bigger picture: Nigerian property investment is evolving.

Five years ago, Lagos was the automatic answer.

Today? Not so fast.

With economic shifts, rising land costs, and infrastructure spreading beyond Lagos, investors are thinking differently.

And that’s why “buy land in Ibadan or Lagos for investment” has become a serious question.

Cost Comparison: Ibadan vs Lagos Land Prices (2026 Reality)

Let’s start with what everyone cares about — money.

Land Prices in Lagos (2026)

Depending on location:

Ibeju-Lekki: ₦8m – ₦25m per plot

Epe: ₦5m – ₦15m

Ajah: ₦25m – ₦60m

Lekki Phase 1: ₦150m+

The presence of projects like the Dangote Refinery and the Lekki Free Trade Zone has pushed demand massively.

But entry cost is high.

Very high.

Land Prices in Ibadan (2026)

Now compare that to Ibadan:

Moniya: ₦1.5m – ₦4m

Ido: ₦2m – ₦6m

Akobo: ₦8m – ₦25m

Jericho GRA: ₦40m+

Even prime areas in Ibadan are still affordable compared to Lagos.

The difference? You can buy 3–5 plots in Ibadan for the price of one in Lagos.

That’s a serious leverage advantage.

Infrastructure Growth: Who Is Expanding Faster?

Lagos Infrastructure Edge

Lagos still dominates in:

Commercial activity

Port access

Corporate headquarters

International exposure

Projects like the Lekki Deep Sea Port have boosted investor confidence.

If you want high liquidity and faster flipping opportunities, Lagos is strong.

Ibadan’s Silent Boom

But here’s what many people are missing.

Ibadan is expanding quietly:

Improved expressways

Rail connections to Lagos

New estate developments

Lower congestion

And proximity to Lagos makes it attractive for people working remotely or running hybrid businesses.

Smart investors are positioning early.

ROI Comparison: Rental & Resale Returns

Let’s talk numbers.

Lagos ROI

Rental yield in Lagos averages:

5%–8% in developed areas

3%–5% in high-end areas

Appreciation is strong but entry cost reduces ROI percentage.

For example:

Buy plot at ₦20m
Sell in 3 years at ₦30m
Profit: ₦10m
ROI: 50%

Sounds good.

But now compare.

Ibadan ROI

Buy plot at ₦3m
Sell in 3 years at ₦7m
Profit: ₦4m
ROI: 133%

Percentage-wise, Ibadan can outperform.

That’s why the “buy land in Ibadan or Lagos for investment” debate is heating up.

Risk Factors: Let’s Be Honest

No investment is risk-free.

Lagos Risks

Omo Onile disputes

Overpriced speculative land

Government acquisition zones

High documentation fees

Because demand is intense, some investors rush without due diligence.

Bad move.

Ibadan Risks

Slower liquidity in some outskirts

Estate developer credibility issues

Infrastructure delay in new layouts

However, land verification in Oyo State is generally less chaotic compared to parts of Lagos.

But still — always verify at the Ministry of Lands.

Case Study 1: My Client in Ibeju-Lekki

In 2022, one of my clients bought land in Ibeju-Lekki for ₦6.5m.

Today, similar plots are selling for ₦18m.

Massive gain.

But here’s the truth: he held for 4 years and paid multiple documentation fees.

Cash flow was tight.

Not every investor can wait that long.

Case Study 2: Ibadan Estate Buyer

Another investor bought 4 plots in Moniya at ₦1.8m each in 2021.

Total investment: ₦7.2m.

In 2026, each plot is worth ₦5m.

Total value: ₦20m.

That’s smart portfolio scaling.

Less pressure. Higher flexibility.

Who Should Buy in Lagos?

Buy in Lagos if:

You have ₦15m+ capital

You want faster resale

You understand high-risk, high-demand markets

You prefer commercial property opportunities

Lagos rewards bold investors.

But it punishes uninformed ones.

Who Should Buy in Ibadan?

Buy in Ibadan if:

You’re starting small

You want long-term appreciation

You prefer lower entry risk

You’re building gradually

Ibadan is ideal for first-time land investors.

Emotional vs Strategic Investing

Let’s talk honestly.

Many Nigerians buy in Lagos because of prestige.

“Na Lagos land o!”

But investment isn’t about bragging rights.

It’s about:

ROI

Liquidity

Risk control

Scalability

Remove emotions.

Add strategy.

Social Media Reactions & Market Sentiment

Real estate Twitter (X) and Facebook groups are currently divided.

Some common reactions:

“Ibadan is the next Lagos.”
“Lagos will always win.”
“Buy where infrastructure is going, not where it is.”

From my observation, smart investors are diversifying:

1 plot in Lagos

2–3 plots in Ibadan

Balanced portfolio.

Hidden Costs People Ignore

Whether you buy land in Ibadan or Lagos for investment, remember:

Survey plan fees

Deed of assignment

Governor’s consent

Development levy

Fencing cost

Security contribution

Always add 15–25% buffer above land price.

Long-Term Growth Outlook (2026–2035)

Here’s my professional forecast.

Lagos

Continued strong demand

Commercial dominance

Higher regulation

Slower percentage growth (because already expensive)

Ibadan

Population spillover from Lagos

More estate developments

Better road networks

Higher percentage appreciation

Both will grow.

But growth style differs.

So… Buy Land in Ibadan or Lagos for Investment?

Here’s the honest answer:

There is no universal answer.

It depends on:

Your capital

Your risk tolerance

Your investment timeline

Your diversification strategy

If you have ₦5m today?

Ibadan makes more sense.

If you have ₦30m and strong holding power?

Lagos can deliver.

My Final Advice as a Real Estate Journalist

After covering Nigerian property investment for years, here’s what I’ve learned:

The smartest investors:

Buy early

Verify documents

Ignore hype

Think 5–10 years ahead

And most importantly…

They don’t follow crowd noise.

They follow data.

Conclusion

The “buy land in Ibadan or Lagos for investment” question isn’t about which city is better.

It’s about which city is better for you.

Ibadan offers affordability and high percentage ROI.

Lagos offers liquidity and commercial dominance.

Whichever you choose:

Do due diligence

Verify title

Budget hidden costs

Think long-term

For more verified property insights and updates, visit our latest market reports here:
👉 https://naijaestate.com/news

Now let’s hear from you:

If you had ₦10m today, where would you invest — Ibadan or Lagos?

Drop your thoughts in the comments.