Banana Island is not just a neighborhood, it’s a symbol of ultimate luxury in Nigeria. This exclusive, man-made peninsula in Ikoyi is Africa’s most prestigious residential enclave, home to billionaires, celebrities, and top executives. Designed as a gated community with private roads, waterfront mansions, and ultra-high-security, Banana Island offers a lifestyle unmatched anywhere else in West Africa. In 2025, it remains the most sought-after address for Nigeria’s elite, with property values rivaling those in Monaco, Dubai, and Manhattan.
Banana Island’s real estate market is the most exclusive in Africa. In 2025, a standard 6-bedroom mansion starts at ₦1.5 billion, while ultra-luxury waterfront estates can exceed ₦10 billion. The island has only about 500 plots, making land scarcity a key driver of its astronomical prices. The most expensive sale in 2024 was a ₦15 billion mega-mansion with a private beach, cinema, and underground garage.
Developers like UPDC, Persianas, and Elalan have ongoing projects, but available land is nearly exhausted. Most transactions now involve tear-downs and rebuilds of older properties.
Banana Island is car-only—no okadas, keke, or public buses are allowed. The island has two guarded entry points (main gate and marina gate), with biometric clearance for residents.
✔ Private boat docks for residents with yachts
✔ Helipads for air travel (avoiding Lagos traffic)
✔ Underground parking in most mansions (3–10 car capacity)
Traffic is minimal inside the island, but rush hour at the gates (8–9 AM) can cause slight delays.
Banana Island isn’t a commercial hub—it’s a private residential sanctuary. However, it offers elite lifestyle perks:
For shopping/nightlife, residents go to Ikoyi or Victoria Island (10 mins away).
