Over the past century, Lagos among other states has had its fair share of growth. Development on the rise has put this ecosystem in the forefront as the leading city in Africa.
What is amazing though is the rate at which this development occurs, with a large influx of investors and a growing number of startups emerging daily, progress is immeasurable. Yet, the scary part is where Lagos is headed and how it affects you as a young person, have you ever imagined what Lagos would look like in a few years? I’ll give you clue, let’s bounce back a little…
Lagos has been a catchy location since the 1800s and interestingly, despite it being surrounded by the Atlantic has found its expansion exceedingly stands out as one of the great cities in Africa, that’s the short summary.
What is the problem?
Overpopulation being a great threat to the living conditions of the state is nothing compared to the threat of an increasingly expensive community. Over the past few months, food cost has grown without a visible limit and once it doubles out there, it triples in Lagos.
Also pay attention to the fact that the growth rate of infrastructure is immeasurable and might eventually affect the Lagosians living in the mainland and its suburbs, what does this mean? Well, the island gets congested every second with companies continually searching for space, let’s not even talk about the rent. Yet, you’d notice that lately a considerable amount of previously low budget houses on the mainland are seemingly competing with prices across the third mainland bridge e.g Surulere, Bariga, Shomolu, Ikeja to mention a few.
Will there be a reduction in the future? Definitely NO, if there’s anything that we’ve come to understand in Nigeria, we are anti-gravity when it comes to money. What goes up keeeps going up, down is not an option. What’s next?
The proposed fourth mainland bridge is expected to link the Island to Ikorodu, which means at the completion of this project it would be easy for a worker on the island to get to work from Ogijo or Odogunyan in less than an hour under normal circumstances. Is this a problem? well think of it this way, a guy who pays rent of 2 million naira on the island would love to move to Ikorodu and pay rent of 1 million naira for a two-bedroom flat. What he has failed to realise is that these apartments used to be rented for 400 thousand naira, hence the landlords in Ikorodu would evidently inflate prices with the growing migration of islanders to their community. This price explosion would be swift, fast and furious. Then over the next few years, regular residents have to either adjust to the process or move to places they can afford.
Can you flow with this analogy? Do you see where this whole plot is leading? Can you also predict how it would affect other locations?
Lagos would definitely grow over time and the potentials are endless, but it would help to envision what the future would look like in case of uncertainties like the fall of the naira against the dollar.
I’m not in any way an economic or financial expert, but connecting the dots would help us young people plan ahead for future possibilities.
I’m not a big fan of financial reports so I hope this didn’t bore you. If you liked this post, please share…
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Interesting piece.
Things I can sum up from this is that, the population in Lagos would continue to grow as more infastructure that connects places spring up. slowly and gradually there won't be any space/place for the poor in Lagos, this would push more people to crime, and increased crime rate would call for improved security which Lagos state government hasn't been able to provide. Let me stop painting all the gloomy pictures, on the bright side more opportunities would open, and for the young hustlers more ways to make money.
Ekó ó ní bàjé ó.
This right here really makes sense and it is so insightful. I also don't see price of basic things going back to normal not to talk of housing.