NIGERIA NEWS
Banana Island land prices jump over 540% to N3.05 million per sqm in five years – Report
Land prices in Banana Island surged by more than 540% between 2020 and 2025, reaching approximately N3.05 million per square metre in 2025.
This is according to the Lagos Residential Market Report 2025 by Edala Development, a real estate company.
The report highlights the strong demand for one of Lagos’ most exclusive residential locations over the five-year period.
The sharp increase reflects limited land availability and the continued demand for prime real estate in the area.
What the report is saying
According to the report, land prices in Banana Island experienced the most dramatic growth among the locations reviewed, rising from an average of N470,000 per square metre in 2020 to about N3.05 million per square metre in 2025.
The report highlighted the strong performance of the area’s luxury residential market, where ultra-luxury mansions and detached houses, many priced in US dollars, continued to attract high demand.
“Land prices in Banana Island remain among the most valuable real estate assets in Nigeria. The price per square meter increased by over 540%, rising from an average of N470,000 in 2020 to an impressive N3.05 million by 2025,” the report read in part.
The Banana Island rental market recorded significant growth over the five-year period. A three-bedroom home that rented for N11 million in 2020 increased to N27.5 million in 2025, while a four-bedroom property rose from N18 million to N30.5 million. Two-bedroom apartments more than doubled in rental value during the same period.
In the sales market, a four-bedroom home appreciated from N350 million in 2020 to N800 million in 2025, three-bedroom properties rose to about N600 million, and two-bedroom apartments were valued at around N385 million by 2025.
Strong growth across rental markets
The report further noted that rental values across Ikoyi, Victoria Island, and Lekki Phase 1 showed consistent and significant growth between 2020 and 2025.
- In Ikoyi, one-bedroom apartments rose from N2 million in 2020 to N8 million in 2025, two-bedroom units increased by 150%, three-bedroom homes grew from N8.5 million to N25.5 million, and four-bedroom properties averaged N28.5 million.
- Victoria Island recorded similar trends, with four-bedroom rentals increasing from N5.4 million to N20 million, and three-bedroom units rising by over 212% to N15 million.
- Lekki Phase 1 also saw notable growth, with four-bedroom homes rising from N4.3 million to N13.5 million, three-bedroom units to N11.3 million, two-bedroom apartments to N8.5 million, and one-bedroom units climbing to N4.5 million, reflecting strong demand across these Lagos high-end residential hubs.
Sales markets deliver impressive capital appreciation
The report also highlighted substantial gains in the sales market for Ikoyi, Victoria Island, and Lekki Phase 1. In Ikoyi, one-bedroom apartments rose from N80 million to N170 million, two-bedroom units from N102 million to N350 million, three-bedroom homes from N255 million to N550 million, and four-bedroom properties from N300 million to N750 million.
Victoria Island saw similar growth, with four-bedroom homes rising from N225 million to N750 million, three-bedroom units to N500 million, and two-bedroom apartments valued around N350 million.
Lekki Phase 1 sales also performed strongly, with two-bedroom apartments surging from N70.5 million to N247.5 million, and three-bedroom homes rising from N102 million to N315.3 million. Larger properties and those with verified Certificates of Occupancy commanded higher prices, reflecting buyer confidence and the area’s strong investment appeal.
Land values soar across prime locations
The report showed that land prices also recorded dramatic growth across Ikoyi, Victoria Island, and Lekki Phase 1.
In Ikoyi, the average per square metre increased from N420,000 in 2020 to N2.15 million in 2025, while Victoria Island rose from N350,000 to N1.55 million per sqm.
Lekki Phase 1 also saw significant appreciation, climbing from N264,000 to N1.1 million per square metre, a 316% increase. These trends reflect strong demand, limited availability of premium plots, and the strategic locations of these high-end residential areas.
What you should know
Nairametrics had earlier noted, based on a report from Estate Intel, that Lagos’ luxury residential market delivered strong sales growth over the past five years.
Eko Atlantic led with a 59.5% sales growth rate, highlighting its status as a prime destination for luxury real estate investments.
Ikoyi followed closely with a 58.14% increase, reflecting sustained demand from affluent buyers.
Banana Island recorded a 55.30% growth, driven by limited waterfront properties and ultra-luxury residences, aligning with Edala Development’s observations of rising land, rental, and sales values in the area.
Victoria Island saw a 45.04% rise, highlighting steady demand in its mixed-use commercial and residential environment.
Overall, these prime Lagos locations delivered annualized gains of 38%–60% in naira, illustrating the resilience and continued attractiveness of the city’s high-end property market.
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NIGERIA NEWS
NDLEA Arrests Female Drug Kingpin In Lagos (Photos)
The National Drug Law Enforcement Agency (NDLEA) has arrested a woman identified as Shodunke Yetunde Simbiat in Lagos after uncovering a large cache of cocaine hidden inside her home.
Naija News reports that the agency in a statement signed by its spokesperson, Femi Babafemi, said she was a key member of a drug trafficking group whose operations stretch across states and borders.
The arrest took place on Tuesday, December 9, 2025, at her residence on Onasanya Street in Surulere, Lagos, following months of intelligence gathering and surveillance by NDLEA officers.
During a search of the house, operatives found 23.50 kilograms of cocaine concealed inside a black suitcase kept in her children’s room.
The suspect was said to have admitted that the drugs belonged to her, with the agency placing the street value at over five billion naira.
The arrest followed the earlier breakup of the same drug network in May 2024, when NDLEA operatives stopped a couple, Bolanle Lookman Dauda and Olayinka Toheebat Dauda, along the Lagos-Badagry expressway as they attempted to cross into Ghana.
At the time, 47.5 kilograms of cocaine were recovered from them.
Further search of their home in Agbara, Ogun State, led to the recovery of an additional ten kilograms, bringing the total seized from the couple to 57.5 kilograms. Shodunke later went into hiding before she was tracked and arrested.
In another operation, NDLEA officers at the Murtala Muhammed International Airport, Ikeja, intercepted a businessman, Nwanwene Robinson Destiny, at the terminal II departure hall on Thursday, December 18, 2025.
He was found with 1,020 pills of tramadol and tapentadol concealed in his luggage while preparing to board a flight to Milan, Italy.
The suspect reportedly claimed he was promised a payment of two hundred euros after delivering the drugs abroad.
At the Seme border area of Badagry, Lagos, NDLEA operatives arrested a 48-year-old Beninese national, Leocardi Josu, on the same day with 3,400 tablets of tramadol while trying to enter Nigeria.
Along the Okene–Lokoja highway, a 30-year-old suspect, Abdullahi Adamu, was also arrested on Friday, December 19, with 28.4 kilograms of skunk and synthetic cannabis.
In Oyo State, officers intercepted a Toyota Hiace bus along the Lagos-Ibadan expressway on Friday, December 19, and recovered 125,000 capsules of tramadol and 1,800 ampoules of pentazocine injection.
Two suspects, Ogunlade Kazeem and Adeleke Ismail, were also arrested earlier in Ibadan with 185.4 kilograms of skunk at Challenge motor park.
Meanwhile, NDLEA operatives in Osun State raided the Owena/Ijesha forest and seized 405 kilograms of skunk, leading to the arrest of a 45-year-old suspect, Charles James, on Friday, December 19.
On the same day, another suspect, Jamilu Zakari, was arrested along the Abuja–Kaduna highway with 14,960 pills of tramadol hidden inside kolanut sacks being transported from Abuja to Zamfara State.
See photos below:
Beyond arrests and seizures, the agency said it continued its War Against Drug Abuse activities nationwide in the past week.
These included awareness programmes in schools, community centres, transport unions, and other public spaces across states such as Anambra, Katsina, and Ekiti.
The NDLEA leadership commended officers involved in the various operations across Lagos, Ogun, Kogi, Kaduna, Oyo, and Osun states.
The agency also urged personnel nationwide to remain alert during the festive period and to maintain professionalism in efforts to reduce drug supply and drug use across the country.
NIGERIA NEWS
Release of Papiri students shows Tinubu administration can tackle kidnapping, insurgency – Gov Abiodun
Ogun State Governor and Chairman of the Southern Governors’ Forum, Prince Dapo Abiodun, has hailed President Bola Tinubu over the successful release of the remaining 130 students of St. Mary’s Catholic School in Papiri community, Niger State.
The release, which brings the total number of rescued students to 230, follows an earlier rescue of 100 students earlier this month.
Governor Abiodun described the development as a sign that evil forces will not triumph over Nigeria.
Speaking in a statement issued in Abeokuta on Sunday, Abiodun said the release fulfills President Tinubu’s pledge to ensure the freedom of all abducted students without harm and to reunite them with their families.
He said, “I am extremely delighted to learn that the remaining 130 students of St. Mary’s Catholic School Papiri community, Niger State, who were hitherto in captivity, have been released. The students, their parents, Papiri community, and the Government of Niger State have all been through a lot, and I rejoice with them in this moment of triumph over the forces of darkness.”
He commended the President for the security measures implemented, saying they have restored the confidence of Nigerians in their government.
“If this incident shows anything, it is the fact that the Bola Tinubu administration is committed to a safe, secure and prosperous Nigeria, and deserves our collective prayers and moral support
“The president is determined to tackle the upsurge of kidnapping and terrorist attacks, and bring sanity back to our society, which will invariably restore the confidence of Nigerians and the international community in the government, and bring massive development.
“The security agencies should be commended for this achievement. I also call on them to track down and bring to justice those responsible for attacking innocent and law-abiding Nigerians, using the full extent of the law.”
NIGERIA NEWS
FG Secures Release Of All Kidnapped Schoolchildren From Niger State
The federal government has secured the release of all the schoolchildren kidnapped by bandits from St. Mary’s Catholic School in Niger State.
Following the release of another batch of 115 students abducted from St. Mary’s Catholic Private Primary and Secondary School in Papiri community, Agwara Local Government Area of Niger State on Sunday, the total number of rescued children is approximately 265.
Officials of the Office of the National Security Adviser (ONSA) confirmed the development to newsmen on Sunday.
The release of the students marked the end of a month-long ordeal that began with a deadly attack by armed gunmen on November 21, 2025. The bandits stormed the boarding school in the early hours, abducting 303 students and 12 teachers in one of the largest mass kidnappings in recent Nigerian history.
Naija News recalls that 50 students had earlier managed to escape shortly after the abduction, while 100 others were released on December 8 following intensive security operations.
The latest release of the remaining 115 students ends days of anguish for families and represents a significant success for security agencies involved in the rescue efforts.
As earlier reported by Naija News, the federal government had secured the release of 100 schoolchildren who were part of those kidnapped by bandits on November 21, 2025.
The bandits had invaded the remote Papiri community around 2:00 a.m., arriving on motorbikes and attacking the school dormitories for over three hours. By the time they retreated, 315 people, 303 students and 12 teachers, had been taken away.
In the first 24 hours after the abduction, 50 pupils managed to escape and were reunited with their families. However, 265 individuals, 253 children and all 12 teachers remained in captivity.
Security agents, alongside local hunters, were immediately deployed to comb the surrounding forests in search of the missing victims.
In the wake of the attack, the government ordered the indefinite closure of all schools in Niger State, along with several federal institutions in high-risk areas, pending further security assessments.
NIGERIA NEWS
Stop Complaining, You Had Your Time, Umahi Tells Opposition
The Minister of Works, Senator Dave Umahi, has defended the recent wave of defections by opposition governors and other elected officials to the ruling All Progressives Congress (APC), insisting that there is nothing wrong with the development.
Speaking in Abuja last week, Umahi said political party affiliation allows for freedom of entry and exit, stressing that defection is a legitimate democratic right.
The former Peoples Democratic Party (PDP) governor of Ebonyi State noted that opposition parties had enjoyed similar moments of dominance in the past and should therefore desist from complaints.
“There is nothing wrong with defections. Political association allows free entry and free exit. Opposition parties also had their time,” he said.
Umahi also defended the Senate’s clearance of ambassadorial nominees, dismissing criticisms that the screening process was inadequate.
According to him, the screening of presidential appointees falls squarely within the constitutional prerogative of the Senate, which has the authority to determine its procedures.
Asked whether he saw anything wrong with the manner in which the Senate cleared the nominees despite public criticism, Umahi replied, “No, I didn’t see anything wrong.”
On the defection of opposition governors to the APC, the minister said the decisions were voluntary and largely influenced by the performance of President Bola Ahmed Tinubu and the ruling party.
He dismissed claims of inducement or coercion and rejected fears that the trend could lead to a one-party state.
Umahi cited the example of the Governor of Abia State, who is his cousin and has not defected to the APC, as evidence that no governor is being forced to join the ruling party.
“There is no pressure on anyone. The fact that my cousin, the Governor of Abia State, has not defected shows clearly that governors are acting on their own convictions,” he said.
Reacting further to the twin issues of ambassadorial screening and political defections, Umahi reiterated his support for the Senate’s actions.
“The Senate did a good job by clearing the ambassadorial nominees. When the PDP enjoyed defections in the past, nobody complained,” he added.
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NIGERIA NEWS
Lady Buys Whole Pack of Balloons, Shares What She Discovered About the Biggest Size
- A Nigerian lady said she bought a pack of balloons because she wanted to get the biggest size in the pack
- In a video, she explained what she discovered after she searched for the number matching the biggest balloon on the pack
- According to her, she did not find the number, meaning that if she had played the usual balloon game, she would have failed to win the biggest one
A Nigerian woman shared her experience after she bought a pack of balloons and sought to track the number matching the biggest size.
Packs of balloons usually come with a cardboard paper with numbers that match the balloons in the pack.
A Nigerian lady wanted a big balloon so she bought the whole pack. Photo credit: TikTok/@ayinke_oreoluwa.
Source: TikTok
This is used for games by people who pay money, pick a number and win balloons.
However, the lady identified on TikTok as Ayinke Oreoluwa said she decided to check to see if the number matching the biggest balloon was on the cardboard. She was searching for number 19.

Read also
Lady shares video of unexpected thing bus driver asked her to do, video causes buzz online
However, she claimed she could not find the number, meaning if she had played the game, she wouldn’t have won the biggest balloon.
Lady Buys Whole Pack of Balloon, Shares What She Discovered About the Biggest Size
Source: TikTok
Watch the video below:
Reactions as lady shares her experience with balloon
@OMO SEE YNASH said:
“H much did u buy the full pack?”
@CBN(GOV) said:
“That thing na where Sporty bet start.”
@boss opo said:
“This balloon thing nearly gave me heart attack when I was little.”
@Fashion designer in Asaba said:
“Have won the biggest one before the woman be no wan give me, Omo people gather sha. I later collect am.”
@Memphis said:
“I remember when my aunt was selling this,I told my friends the number for the big one,she beat the hell out of me Ehn.”
@Elements said:
“I have won it before ohh.”
@Kay khalie said:
“Thank u fr hlping me find peace finally.”
@BonBon said:
“I won the big one o..she said she will give me later I should leave it so others will still play. Never trust adults.”
@Anonymous said:
“The number is there, they used to remove it.”
Read also
Ex-corps member who saved N77k allowance for 12 months starts foodstuffs business, displays store
@Zeez said:
“Wicked people…..I always ended up choosing the smallest one.”
@Paul | Health and Fitness said:
“I have adult money now to buy childish things I couldn’t have then. This is satisfying.”
@Tiara said:
“They have changed it ni. The particular number used to be there, but they do remove the number. I have sold it in school back then so I know.”
@Harbie said:
“Even if you win the biggest balloon they won’t give you for the exact price others are sold. It’s more expensive.”
@Aura-crochet said:
“This balloon thing taught us the biggest life lesson it’s not about how hard you work, the system is designed against you.”
Man breaks 50 balloons by sitting on them
Earlier, Legit.ng reported that the Guinness World Records recognised a man who broke a total of 50 balloons by sitting on them.
The man holds the record for most balloons burst by sitting on them within a timeline of 30 seconds.
The man named Ashrita Furman also holds the record for most balloons burst with the mouth in 30 seconds.
Source: Legit.ng
NIGERIA NEWS
Video of businessman settling his five apprentices with over N20m each goes viral
A heartwarming story has gone viral after Nigerian businessman Stephen Ozioko fulfilled his commitment to the Igbo apprenticeship system by settling five of his apprentices after six years of service.
The apprentices, often referred to as nwaboy, were each given substantial start-up capital to begin their own independent businesses.
Businessman.
According to details shared online, the first and second apprentices received ₦20 million each, the third got ₦21 million, the fourth ₦22 million, while the fifth was settled with ₦23 million.
The gesture, which totals more than ₦100 million, has drawn widespread praise on social media, with many hailing it as a strong example of mentorship, loyalty, and sustainable wealth creation through structured apprenticeship.
Check out reactions …
drich_humble said: “I served for 9yrs 2014 and got 100k naira as settlement… still respect my oga”
realjark_1 remarked: “God bless Igbo people. No business model in the whole world beats your apprentice system. 20m after serving you”
Ig.showroom_thomas_estate wrote: ‘Woow may God bless them all. And for the boss,
may God continue to enlarge your coast and bless your territories”
donqgachi stated: “Great way of wealth transfer”
prince_chioya wrote: “Lovely dis was how igbos used to help others back in the days God bless you sir”
dongodwin5549 wrote: “These are my men oo. Sir Philip, Oga Oforistic, Man like Paul and the othersta”
faithalex2017 said: “This 2025 mustn’t end without God blessing me in Jesus name Amen
maureenedafe wrote: “And that is truly the Igbo tradition ¢ this is the right way it is done”
Watch video below …
NIGERIA NEWS
Amaechi posters surface in Kaduna, spark 2027 presidential speculation
Posters of Rotimi Chibuike Amaechi, former minister of transportation, appeared across major streets in Kaduna over the weekend, fuelling speculation about early political activity ahead of the 2027 presidential election.
The posters, which featured Amaechi’s portrait, described him as “the only person to be trusted” and “the only man for the job”, with messages centred on unity, equality, stability and development.
Amaechi, who holds the traditional title of Dan Amanan Kasar Hausa of Daura, has previously served as Speaker of the Rivers State House of Assembly, Governor of Rivers State and Minister of Transportation.
Residents said the posters were sighted at strategic locations across the Kaduna metropolis, including Ahmadu Bello Way, Ali Akilu Way, the environs of the Kaduna state government house and the Kawo Bridge corridor leading towards Zaria.
Motorists and pedestrians were seen slowing down to observe the displays, particularly around Kawo Bridge, where early-morning traffic was briefly disrupted.
Although Amaechi has not made any formal declaration, the posters have intensified speculation about a renewed presidential ambition.
Amaechi contested the All Progressives Congress presidential primary in 2022, where he finished second behind President Bola Tinubu.
NIGERIA NEWS
All Abducted Niger Catholic Schoolchildren Regain Freedom
All remaining schoolchildren kidnapped from St Mary’s Catholic Private Primary and Secondary School in the Papiri community of Agwara Local Government Area, Niger State, have now been released.
The final group of 115 pupils were freed on Sunday, bringing the total number of rescued children to about 265 and drawing an end to a traumatic month-long captivity.
The abduction took place in the early hours of 21 November 2025, when armed men stormed the boarding school, seizing 303 students and 12 teachers in one of the largest mass kidnappings in recent Nigerian history.
In the immediate aftermath, around 50 students managed to escape without assistance, while a further 100 were released on 8 December following sustained security operations.
The release of the remaining 115 pupils has been welcomed as a major breakthrough by security agencies and has brought immense relief to anxious families.
NIGERIA NEWS
SEC sets January 31 deadline for 2026 CMO registration renewal
Nigeria’s Securities and Exchange Commission (SEC) has announced that all Capital Market Operators (CMOs) are required to renew their registration between January 1 and 31, 2026.
In a release on Sunday, December 21, 2025, the Commission disclosed that beginning in the first quarter of 2026, it will commence electronic receipt and processing of registration applications as well as updates to operators’ registration information.
This move is aimed at eliminating delays associated with manual submissions.
According to the release, SEC Director General, Dr. Emomotimi Agama, revealed these plans during an interview in Abuja, noting that the reforms reflect the Commission’s drive toward a more transparent, technology-driven regulatory environment.
“We are taking deliberate steps to make regulatory processes faster, more transparent, and technology-driven,” the release quoted Agama as saying.
What the regulator is saying
The SEC is reminding capital market operators about the annual renewal of registrations, without which they cannot operate in the capital market. And to make the processes easier and seamless, the regulator has come up with the Digital Transformation Portal.
According to Dr. Agama, SEC has automated the end-to-end registration and licensing workflow through which market operators can now submit applications, upload documents, and track approval status online. Thus, significantly reducing processing time and the need for physical interactions with the Commission.
The Commission has also deployed an automated module for Commercial Paper issuance, enabling operators to file documents, monitor progress, and receive approvals electronically. According to Agama, early feedback shows improved turnaround time and reduced administrative bottlenecks.
Further enhancements are underway to automate the submission of quarterly and annual returns using structured templates and system-driven accuracy checks. A returns analytics dashboard is also in development to aid risk-based supervision and prompt exception reporting.
Strengthening infrastructure, cybersecurity and market trust
To reinforce these digital reforms, the SEC has begun upgrading its IT infrastructure, including servers, storage systems, networks, and security frameworks. Selective cloud migration is ongoing for platforms requiring scalability and external access, while core systems will remain on-premise until security and cost evaluations are completed.
Agama also disclosed ongoing efforts to enhance data integrity and cybersecurity, including vulnerability assessments and planned penetration testing once the automation phases stabilise. He stressed that responsible technology adoption is central to maintaining investor trust—describing it as “the cornerstone of our markets.”
The SEC DG underscored the need for regulatory clarity around emerging technologies such as artificial intelligence, alongside capacity-building initiatives, especially for smaller operators. He emphasised that while innovation is critical, ethical and compliant deployment is non-negotiable.
“As operators embrace automation, AI, and data-driven tools, they must ensure ethical, secure, and compliant deployment,” Agama said.
He urged CMOs to uphold fairness, transparency, accountability, and regulatory compliance to protect investors and strengthen the long-term credibility of the Nigerian capital market.
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NIGERIA NEWS
Another Rep Confirms Alleged Alterations to Tax Laws, Calls for Suspension of Implementation – THISDAYLIVE
*Says he’s working with other lawmakers to raise issue as matter of urgent national importance Tuesday
A member of the House of Representatives, Hon. Mansur Manu Soro (Bauchi State), has called for the immediate suspension of the Tax Laws, 2025, citing what he described as “existence material discrepancies between the bills duly passed by the National Assembly and the versions subsequently gazetted.”
In a statement released on Sunday, Hon. Soro said his review of the Votes and Proceedings of the National Assembly, the harmonised versions of the tax bills passed by lawmakers, and the Official Gazette revealed “material discrepancies” between the bills approved by the legislature and the versions that were later gazetted.
According to him, the differences are neither minor nor accidental. He alleged that the altered provisions removed key oversight and reporting mechanisms that were expressly approved by the National Assembly, while introducing new coercive and fiscal powers for the executive that were not approved by lawmakers.
“These are deliberate alterations,” Soro said, warning that they amount to a constitutional breach, as legislative authority is vested solely in the National Assembly under the Constitution of the Federal Republic of Nigeria.
The lawmaker called for the suspension of the Tax Laws, which are scheduled to take effect on January 1, 2026, until all post-passage changes are identified, removed and properly addressed by the National Assembly.
Soro acknowledged the decision of the House of Representatives to set up an ad-hoc committee to investigate the allegations, describing it as a “commendable step.” However, he raised concerns that the committee’s one-week reporting deadline falls on Thursday, December 25, Christmas Day, which is a public holiday when the House does not sit.
Given the proximity of the implementation date, Soro said he was working with other lawmakers to raise the matter on the floor of the House on Tuesday, December 23, 2025, the final legislative sitting before the Christmas recess, as a Matter of Urgent National Importance.
He stressed that the House must take a clear and definitive position on the issue before proceeding on its Christmas and New Year break, in order to safeguard the integrity of the legislative process and uphold the Constitution.
A member of the House of Representatives, Rep. Abdulsammad Dasuki (Kebbe/Tambuwal Federal Constituency, Sokoto State), had last Wednesday raised a matter of privilege on the floor of the House, alleging that the gazetted tax laws did not reflect what lawmakers debated and passed
