In a thought-provoking tweet, popular skitmaker and comedian TheCuteAbiola raised eyebrows by pointing out the daunting reality of housing affordability in some of Nigeria’s most exclusive areas. The comedian shared a tweet that quickly gained traction across social media platforms, posing the question: “So you mean, if someone starts saving one million naira every month for 100 years, that’s 1.2 billion naira, and still not enough to buy a house in Ikoyi or Banana Island in Lagos?”
The tweet, which was accompanied by a shocked emoji, has since ignited discussions about the growing disparity between income and housing prices in Lagos—Nigeria’s commercial hub and one of Africa’s fastest-growing megacities.
The Reality of High Property Prices in Lagos
Ikoyi and Banana Island, two of Lagos’ most affluent neighborhoods, are home to some of the most expensive real estate in Nigeria. In recent years, the price of land and property in these areas has skyrocketed, making them increasingly out of reach for the average Nigerian.
Experts estimate that the cost of buying a luxury home in Ikoyi or Banana Island could range from several hundred million naira to billions, depending on the location, size, and luxury level of the property. For many Nigerians, this level of wealth is simply unattainable, even over a lifetime of saving.
TheImpact on the Middle Class
The tweet by TheCuteAbiola highlights a grim reality faced by many middle-class Nigerians, who find themselves priced out of their own city. While the median income of most workers in Lagos remains significantly lower than the cost of living, the prices of high-end properties continue to climb, further widening the wealth gap.
Many Lagosians have turned to alternative housing options, including renting or relocating to more affordable areas on the outskirts of the city. However, with an increasing population and the ongoing expansion of the city, finding affordable and secure housing remains a challenge.
Social Media Reactions
TheCuteAbiola’s tweet has sparked a lively debate on social media, with many followers echoing the comedian’s sentiments. Some Nigerians have taken to Twitter to express frustration about the state of the housing market and the government’s failure to address the issue, while others have called for more affordable housing initiatives across the country.
“I have always said this! The government needs to take action before it becomes a real crisis,” one Twitter user commented.
Another user noted, “The average worker cannot even dream of owning a house in these areas, even with years of saving. It’s time we start thinking about more inclusive development.”
A Call for Policy Change?
As the conversation grows, it seems clear that the high cost of living, particularly in real estate, remains a pressing issue for many Lagos residents. Whether TheCuteAbiola’s tweet will serve as a catalyst for broader policy discussions around affordable housing and urban development remains to be seen.
For now, his message has sparked an essential dialogue about the affordability of basic needs in one of Africa’s most vibrant cities.
