Business
Lagos Mainland Emerges as Next Property Investment Hotspot, Frontier Commercial Services Says
The spotlight in Lagos’ property market is gradually shifting away from the city’s traditional luxury districts towards emerging mainland communities, according to Frontier Commercial Services Limited, which says investors who move early could benefit from the next phase of urban expansion.
The real estate firm made the projection while announcing the inaugural Mainland Housing Summit, scheduled for 25 July at The Mainland Heritage, describing the event as a platform to provide investors with market intelligence, research and networking opportunities centred on the Lagos Mainland and adjoining Ogun corridor.
Speaking during a media briefing, the company’s Managing Director, Mr. Olalekan Oseni, said Lagos Island locations such as Lekki, Victoria Island and Ikoyi have historically delivered impressive returns, but argued that soaring land prices have raised the cost of entry for new investors.
“For years, the conversation about real estate investment in Lagos has been almost exclusively focused on the Island. Lekki. Victoria Island. Ikoyi. And for good reason, these markets delivered, but that window is closing gradually,” Oseni said.
“Prices on the Island have moved to a point where the entry cost for a new investor is at the peak and the margin for meaningful return is increasingly getting thin.”
He said the company believes the same economic and demographic factors that fuelled rapid growth on the Island over the past two decades are increasingly taking shape across mainland communities.
“The smart money is shifting. And it is shifting to the Mainland. Not because the Mainland is a consolation prize but because the fundamentals that drove Island growth twenty years ago—such as infrastructure investment, population density, commercial activity and government attention—are now actively playing out across the Lagos–Ogun corridor.”
According to Oseni, Frontier Commercial Services has spent more than six years operating within the market and chose to organise the summit to help prospective investors better understand changing market trends before prices rise further.
“Rather than simply benefit from it, we would bring the market with us. We will educate, inform and open the door for a wider community of investors to position themselves before prices get to the peak.”
Research points to emerging opportunities
The company’s Executive Director, Mr. Tolulope Adekunle, unveiled findings from the firm’s Mainland Real Estate Growth Report 2026, which compares historical land prices on Lagos Island with current values across several mainland corridors.
According to Adekunle, land in Lekki sold for as little as ₦15,000 per square metre in 2010, but now commands prices of up to ₦600,000 per square metre, representing an increase of more than 1,900 per cent.
By comparison, he said land in many emerging mainland locations currently ranges between ₦18,000 and ₦105,000 per square metre, making those areas significantly more affordable for first-time investors.
“That is 10 to 20 times cheaper than the Island currently,” he said.
Adekunle also pointed to Nigeria’s estimated housing deficit of about 28 million units, arguing that sustained demand for housing will continue to drive development in expanding urban corridors.
“That gap will not close on its own. It will be filled. And it will be filled here, on the Mainland.”
He maintained that the company’s research suggests growth across the Lagos–Ogun corridor is being driven by long-term demographic and infrastructure trends rather than short-term speculation.
“New roads. More people moving in. More business activity. This is not a quick spike that will crash. This is steady, lasting growth.”
He encouraged journalists and prospective investors to study the report and question its methodology where necessary.
Why the mainland?
Responding to questions from journalists, Oseni said the mainland has experienced significant property appreciation in recent years, citing locations where land values rose from around ₦10 million a few years ago to between ₦60 million and ₦70 million today.
He attributed the trend to population growth, commercial expansion and increasing investor interest.
“If the rate at which people are investing on the Island is the rate at which people are investing on the Mainland, the Mainland won’t remain the same like this,” he said.
He added that the company expects continued expansion as infrastructure projects improve connectivity between Lagos and neighbouring Ogun State.
Industry perspective
Property analysts broadly agree that infrastructure, transport links, population growth and commercial activity are among the strongest drivers of land appreciation.
However, they caution that future returns cannot be guaranteed and depend on a range of factors, including government policy, macroeconomic conditions, planning regulations, access to infrastructure and investor confidence.
Experts also advise prospective buyers to conduct thorough due diligence by verifying land titles, planning approvals, environmental status and developer credentials before committing funds.
Summit to connect investors and developers
Frontier Commercial Services said the Mainland Housing Summit will bring together investors, developers, financial institutions, architects, builders, interior designers, furniture makers and other professionals involved in the built environment.
Director of Sales, Mrs. Maryann Opara, said the event is expected to attract more than 1,000 participants, including business owners, working professionals, diaspora Nigerians and first-time property investors.
She described the summit as more than a conference, saying it would also feature an exhibition connecting businesses directly with prospective clients.
“We have dedicated floor space for built environment professionals—builders, architects, interior designers, furniture makers, painters, and every complementary trade that services the real estate industry.”
“If you build, design, furnish or finish properties, The Mainland Housing Summit’s Exhibition Floor is a direct line to your next clients.”
Registration for attendees is free, she added, although places will be allocated on a first-come, first-served basis because seating is limited.
Why it matters
Nigeria’s rapid urbanisation continues to increase pressure on housing supply, particularly in Lagos, where rising land prices have made home ownership and property investment increasingly expensive.
As infrastructure expands into surrounding communities, developers are paying closer attention to emerging growth corridors that could accommodate future residential and commercial demand.
Whether the mainland ultimately becomes Lagos’ next major investment hub will depend on continued infrastructure development, access to finance, effective urban planning and sustained investor confidence. The forthcoming Mainland Housing Summit is expected to examine those issues and provide stakeholders with data and market insights to inform future investment decisions.
To register visit;http://www.mainlandhousingsummit.ng #Mainlandhousingsummit #Themainlandrealestate #Frontiercommercialservices
Business
Jamara Home Launches August 2026 Rainy-season Appliance Sales Campaign
Jamara Home has launched a three-week sales campaign offering discounts on household appliances as Nigerian consumers enter a period of continued rainfall and increased demand for some home products.
The retailer says its “Stay Dry, Shop Fly” campaign will run from 4 to 24 August 2026, with televisions, refrigerators, freezers, washing machines, air conditioners, gas cookers, fans and other household products included.
Jamara Home says the campaign covers products from more than 30 international brands.
Oluwatomi Faniran, Head of Marketing at Jamara Home, said the campaign was intended to make household appliances more affordable.
“The rainy season changes the way many families live and interact within their homes, making dependable home appliances even more essential. Through our ‘Stay Dry, Shop Fly’ campaign, we’re giving customers access to genuine products from trusted global brands at exceptional prices, helping them create comfortable homes without placing unnecessary pressure on their finances. At Jamara Home, our focus has always been on delivering quality, value, and an enjoyable shopping experience for every customer.”
Who stands to benefit?
For Jamara Home, the campaign provides an opportunity to increase sales during a period when retailers traditionally promote weather-related products.
For consumers, the potential benefit is straightforward: a genuine reduction in the cost of an appliance that a household already needs.
Business
Nigeria Customs Seizes Rifle Components, ₦373.8m Cannabis Products at Lagos Port
Nigeria Customs says it has intercepted components for more than 140 pump-action rifles and cannabis-infused products valued at ₦373.8m at Tincan Island Port in Lagos.
The seizures, announced on Thursday, 6 August, involved three containers and have raised fresh questions about how prohibited weapons and psychoactive substances are being concealed within Nigeria’s legitimate import system.
Customs said one container, which arrived aboard the vessel MV VELIKA on 8 July, was subjected to enhanced scrutiny after being flagged by its intelligence-led risk management system.
Officers subsequently found concealed crates containing what Customs described as knocked-down components preliminarily identified as JOJEFF pump-action rifles.
Two people have been arrested, according to the service, while another alleged principal suspect remains at large.
Customs has not publicly identified the suspects or disclosed the declared contents of the container, the country of origin of the components, their intended destination or how the shipment entered the port’s clearance process.
Those details will be important in determining whether the seizure was simply a case of successful interception or also points to weaknesses in the systems designed to prevent prohibited cargo from entering Nigeria.
A familiar name in Nigeria’s arms-trafficking history
The reference to JOJEFF weapons is significant because the brand has appeared in previous Nigerian arms seizures.
In 2017, Customs intercepted 661 pump-action rifles concealed in a 40-foot container in Lagos.
The weapons were identified in reports at the time as JOJEFF-branded and had been concealed among goods declared as steel doors and other merchandise.
A separate Conflict Armament Research investigation later documented JOJEFF and other Turkish-manufactured shotguns in Nigeria.
It found that Nigerian authorities had seized more than 2,000 pump-action and semi-automatic shotguns in four shipments in 2017, with the weapons concealed in containers shipped by sea to Lagos.
That history means the latest seizure is more than an isolated customs announcement.
It potentially forms part of a longer pattern in which firearms are moved through commercial shipping routes and disguised among legitimate cargo.
But the available information does not establish that the latest shipment is connected to any of those earlier cases.
Why rifle components matter
The Customs statement refers to “knocked-down components”, rather than assembled firearms.
That distinction matters. Components can be easier to conceal than complete weapons, while the exact number of complete firearms that could ultimately be assembled from the seized parts has not been independently established.
Customs’ description of the items as components “preliminarily identified” as JOJEFF rifles also indicates that technical identification or further examination may still be required.
Nigeria’s Firearms Act regulates the possession, importation and export of firearms and includes provisions governing prohibited firearms and their components. The law requires authorisation for the importation of prohibited firearms.
The 1966 amendment to the legislation specifically brought pump-action or other mechanically reloaded shotguns within the category of prohibited firearms.
The precise legal classification of the seized components, however, would depend on what exactly was recovered and the applicable licence and import documentation.
Customs’ risk system faces a bigger test
Customs says the shipment was detected through its intelligence-driven risk management system.
That claim is consistent with the Nigeria Customs Service Act 2023, which requires the service to use organisational and intelligence-driven risk management in its operations, including customs clearance procedures. The law also provides for risk registers and profiles to support those operations.
But a successful interception does not, by itself, show how effective the system is across all cargo entering Nigerian ports.
The unanswered question is how many similar consignments are identified before clearance, how many escape detection, and whether intelligence is being shared quickly enough between Customs and other security agencies.
Those figures were not provided in the announcement.
Cannabis products worth ₦373.8m
In a separate operation, Customs said officers intercepted two 40-foot containers carrying cannabis-infused products hidden alongside used vehicles, generators, batteries and other imported goods.
The agency listed 109 cartons of Delta-8 cannabis-infused pre-roll cookies, 125 cartons of Delta-8 cannabis-infused gummies and 73 cartons of cannabis-infused cookies.
It put their combined street value at ₦373,802,640.
The announcement does not explain how Customs arrived at that valuation, whether laboratory testing has confirmed the stated cannabinoid content, or whether the products have been formally handed over to the National Drug Law Enforcement Agency, which is responsible for combating drug trafficking in Nigeria.
That distinction is important because a “street value” is an enforcement estimate, not necessarily the amount that the goods would have fetched in a legitimate market.
The NDLEA has separately reported several major seizures of cannabis products entering Nigeria through Lagos. In July, for example, the agency took custody of 6,778.5kg of Canadian Loud, a strain of cannabis, after a joint examination involving Customs and other security agencies at Apapa Port.
In May, the agency also reported the arrest of a foreign national over an attempt to bring 31kg of synthetic cannabis into Nigeria through Lagos airport.
The latest Customs seizure therefore comes against a backdrop of continuing attempts to move cannabis products through Nigeria’s international transport gateways.
Customs links seizure to 2027 election security
Comptroller-General Adewale Adeniyi also connected the latest interception to preparations for Nigeria’s next general election.
“We are about entering a major election cycle and we know that by this period, men of the underworld will want to use our borders, our ports, our airports to bring in items like this. We are going to redouble our efforts to ensure that we do not allow them to do so.”
Adeniyi also warned against internal collusion within the service.
“The Nigeria Customs Service will not harbour any of these people who want to serve as accomplices or use their position to influence the importation of goods that will threaten our peace and security and the peaceful conduct of the next general election.”
What happens next?
Customs says investigations are continuing and that it intends to identify and prosecute everyone connected with the consignments.
The critical test will therefore come after the seizure.
Authorities will need to establish who imported the goods, who financed them, where they came from, their intended destination, how they were declared to Customs and whether anyone within or outside the port system helped them move through the supply chain.
The identities of those arrested, the charges eventually filed and the outcome of any prosecution will provide a clearer measure of the success of the operation than the seizure figures alone.
For now, Customs has demonstrated that prohibited weapons components and cannabis products can still be concealed within commercial cargo entering Lagos.
Business
Adron Group Chairman Hails Threeco Construction CEO Muraina Banjoko on 65th Birthday
The Chairman and Group Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, has congratulated construction entrepreneur Otunba Muraina Olatunji Banjoko on his 65th birthday, describing him as a business leader whose work has influenced Nigeria’s construction sector and community development efforts.
In a goodwill message released on Thursday, Emmanuelking praised the Chairman and Chief Executive Officer of Threeco Construction Company Limited for what he described as decades of leadership in business and philanthropy.
Why it matters
Nigeria’s construction industry remains a major contributor to infrastructure development and employment, despite challenges such as rising building costs, inflation and financing constraints.
Industry leaders who have sustained businesses over several decades are often recognised for their contributions to economic growth, skills development and corporate social responsibility.
Emmanuelking said Banjoko had built Threeco Construction Company Limited into a company associated with quality, professionalism and reliability.
“As Otunba Muraina Olatunji Banjoko marks this remarkable milestone, we celebrate not only his achievements but also his commitment to excellence, integrity, and service to humanity. His life remains a shining example of purposeful leadership and enduring impact.”
He added that the businessman had distinguished himself not only as an entrepreneur but also through humanitarian initiatives that have benefited communities.
Recognition beyond business
The Adron Group chairman also highlighted several traditional and honorary titles held by Banjoko, including Oluwo of Ibaragunland, Baba Adini of Akuteland, Ifo Local Government Renewed Hope Ambassador, Otunba of Akuteland, Bashorun of Agbado and Dr. Olowore Adini of Egbaland.
According to Emmanuelking, the honours reflect the respect Banjoko commands across business, religious and traditional institutions.
He prayed that the businessman would enjoy good health, wisdom and many more years of service.
Industry perspective
Business analysts say longevity in Nigeria’s construction sector often reflects an ability to navigate economic downturns, changing government policies and fluctuating material costs.
They note that beyond delivering projects, construction firms are increasingly expected to contribute to community development, environmental sustainability and job creation.
Public perspective
For many Nigerians, successful entrepreneurs who invest in community projects are viewed as complementing government efforts in areas such as education, infrastructure and youth empowerment.
However, governance experts also argue that corporate philanthropy should complement—not replace—public investment in essential services.
What we know
While Emmanuelking’s tribute celebrates Banjoko’s achievements, no new corporate initiative or policy announcement accompanied the birthday message.
The statement focuses on recognising the construction executive’s career, philanthropy and leadership within Nigeria’s private sector.
What next?
As Banjoko marks the milestone, attention is likely to remain on how established indigenous construction companies continue adapting to Nigeria’s evolving infrastructure needs and economic realities.
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