27 Interesting Facts About Banana Island Lagos

Here are some interesting facts about Banana Island Lagos.

Banana Island Lagos is the billionaire’s paradise in Nigeria.

The island is approximately 1,630,000 square meters in size.

It is one of the most expensive neighborhoods in the whole world.


Everything little detail about the structure, planning, amenities has been planned right from the start.

Its original name is Lagoon City, however, due to the change in location, hence the name change to Banna Island.

Banana Island is under Eti-Osa local government and at the east of Tafawa Balewa Square.

The houses on the island are built on water and owned by the wealthiest people in Nigeria and expatriates.

It’s a man-made island situated around Ikoyi, Lagos.

The island was constructed jointly by HiTech and Nigerian Federal Ministry of Works and Housing.

The name ”Banana Island” was coined as a result of the banana shape of the island.

The first Banana Island project construction site was forcefully obtained by Lagos State government from the pioneer of the project, Late Chief Adebayo Adeleke, after which a new project area was provided.

Chief Adebayo Adeleke is the CEO of City Property Development Ltd and the University of London trained Civil Engineer (MICE).

It is connected by a network of roads close to Parkview Estate.

Lands on Banana Island Lagos are said to be worth N400,000 per square meter.

Detached houses are estimated to cost at least N1 billion Naira and prices of other types of houses, blocks of flats, and townhouses cost more to the tune of N500 billion Naira or more.

Mike Adenuga’s house in Banana Island Lagos consists of 8 duplexes which include churches, mosques, two security towers, and a multipurpose hall.

Ocean Parade is the best condo development out of the three condo developments there, the other two being Bella Vista and LakePoint.

There are two towers, the first of its kind in Nigeria known as Ocean Parade Towers which is eight stories high.

The first houses built on the island were designed in Dubai and British styles.

The island can boast of two parks among other amenities such as 24/7 electricity, good roads and topnotch security.

Currently, there are no shops and as such it’s only residential houses and offices available.

There are two schools there which are Olive Dale Preparatory School and Banana Island School.

Some of the notable personalities living there include Wale Adenuga (CEO Globacom), Aliko Dangote (CEO Dangote Cement among other businesses), Kola and Tundun Abiola (late MKO Abiola’s children), Sayyu Dantata, Iyabo Obasanjo (Olusegun Obasanjo’s daughter), Linda Ikeji (most popular blogger in Nigeria), Jim Cooper and P-Square (most popular twin musicians in Nigeria).

It is one of the most expensive areas in Africa to own a house.

You can get to Banana Island through ferry, taxi, Uber or foot.

The island has only one major entrance which is guarded by the island’s security.

Any visitor to Banana island is required to pass through security checks and obtain access codes at the visitor’s park.

There are three zones at the estate which are Residential zone, Commercial zone, and Mixed Development zone.

The leisure facilities available includes include tennis and squash courts and swimming pool.

Residential houses in this place must not be higher than 3 stories.

Companies such as Glo, Etisalat, Zain, Mtn, Zenon Oil are said to have their headquarters in this estate.

Banana Island has the largest number of millionaires living in it.

It also has a lot of multicultural people living in the estate.

Leave a Reply

Your email address will not be published. Required fields are marked *