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Lagos Real Estate: Goania Project MD reveals costs developers underestimate

In an exclusive interview with Nairametrics, Tpl. Godfrey C. Aniebo, Managing Director and Co-founder of Goania Project Limited, a Lagos-based town planning consultancy, shares his perspective on the realities of property development in Lagos.

Lagos Real Estate: Goania Project MD reveals costs developers underestimate

Lagos remains one of Nigeria’s most active property development markets, fuelled by population growth, rising housing demand and the expansion of its urban centres.

But behind the city’s growing skyline is a property market shaped by complex land arrangements, rising development expenses and the challenge of providing homes and neighbourhoods that meet the needs of a diverse population.

As the city expands, questions around the cost of developing property, access to affordable housing and the quality of urban infrastructure have become increasingly important.

Developers must navigate a market where the demands of construction, regulation and urban growth intersect, while the consequences of poor planning can extend beyond individual projects to affect entire communities.

In an exclusive interview with Nairametrics, Tpl. Godfrey C. Aniebo, Managing Director and Co-founder of Goania Project Limited, a Lagos-based town planning consultancy, shares his perspective on the realities of property development in Lagos.

He discusses the financial and planning considerations developers need to understand, the challenge of making housing more accessible, and the wider urban development issues shaping the city’s future. The conversation also explores the need for better-planned neighbourhoods and the role of effective development control in building a more liveable Lagos.

Nairametrics: From your experience at Goania Project Limited, what are the biggest costs and challenges developers often underestimate when planning a project in Lagos?

Tpl. Godfrey C. Aniebo: As a co-founder of Goania Project Limited, I have observed that developers often underestimate several costs when planning projects in Lagos.

Title perfection is one of the first. Developers need to account for the cost of excision, Certificates of Occupancy, e-GIS searches and title validation. Purchasing unverified family land can also expose developers to disputes that may become expensive to resolve.

Planning approvals are another major cost. EPPPS submissions, professional fees, environmental assessments, drainage studies and traffic impact assessments all require time and money. Developers who do not factor these into their budgets from the beginning may face unexpected expenses and delays.

Drainage and sand-filling are particularly important in areas such as Ibeju-Lekki, where ground conditions can require substantial filling and careful attention to setbacks.

Community engagement is another area that developers sometimes overlook. Unresolved obligations and informal demands can create disputes, making proper agreements with host communities essential.

Developers must also account for compliance penalties arising from breaches of planning, environmental and building regulations. Inflation presents another challenge, as rising costs of cement, diesel and labour can affect project margins, particularly where homes have already been presold.

Finally, post-sales management can create additional costs through buyer disputes, documentation gaps and estate management responsibilities.

At Goania, we recommend using an EPPPS pre-launch compliance checklist to verify land titles, approvals, infrastructure budgets and community agreements before marketing or sales begin. In real estate, profitability starts with preparation, not sales.

Nairametrics: Despite the number of new developments across Lagos, many residents still struggle to afford decent housing. What needs to change in how homes are planned and developed to make them more accessible?

Tpl. Godfrey C. Aniebo: The problem is not a lack of houses, but a lack of properly planned, affordable housing.

Most new developments in Lagos target high-income earners. We need functional studios, one-bedroom and two-bedroom apartments that teachers, young professionals and couples can afford, with room to expand over time.

High approval costs also increase housing prices. When Layout Approval, EIA and Planning Permits from MPP&UD/LASPPPA take months and cost millions, developers pass these expenses to buyers. Faster, automated EPPPS approvals can help reduce costs.

Developers also bear significant infrastructure costs, including sand-filling, roads and drainage. Government-led infrastructure development in Ibeju-Lekki, Epe and Ikorodu would reduce development costs and improve affordability.

Adopting locally sourced materials and faster construction technologies can further lower building costs.

Finally, accessible Certificates of Occupancy (C-of-O) and single-digit mortgage rates are essential. Without secure land titles and affordable financing, many residents cannot access mortgages or use their land as collateral.

Affordability must be built into housing from day one through efficient design, shared infrastructure, streamlined approvals and accessible mortgage financing.

Nairametrics: Following Lagos State’s plans to develop a 16,300-hectare master-planned community around Ito-Omu, Sangotedo and Ibeju-Lekki, what are the key planning considerations for integrating existing communities, housing, transport links and essential infrastructure into a functional new town?

Tpl. Godfrey C. Aniebo: The proposed development presents an opportunity to address unplanned urban sprawl along the Lekki corridor. However, its success will depend on how well existing communities are integrated into the new town.

Indigenous settlements should not simply be displaced or isolated. Their integration requires the provision of infrastructure, tenure security and appropriate buffers, while recognising existing community structures.

Housing should also be planned to accommodate different income groups. A balanced mix of low-, medium- and high-density developments is necessary, with at least 40% of housing targeted at affordable and incremental housing options.

Transport planning must be considered from the outset. This includes an interconnected road network, links to the proposed Fourth Mainland Bridge, and reserved corridors for BRT and rail services. Walkability should also be prioritised to reduce dependence on private vehicles.

Essential infrastructure such as water supply, independent power, wastewater treatment and stormwater management must be planned alongside housing. Environmental impact assessments and the protection of wetlands are equally important, as is effective development control.

The objective should be to create a functional, inclusive and sustainable city, rather than another residential estate.

Nairametrics: In some parts of Lagos, developers are building multi-storey apartment blocks on relatively small plots, leaving limited space for parking, greenery and other shared facilities. How can planners accommodate growing housing demand without compromising residents’ quality of life?

Tpl. Godfrey C. Aniebo: This is a growing concern in high-demand areas such as Yaba, Surulere, Ikoyi, Lekki and Ikeja GRA. While higher-density development is necessary to accommodate Lagos’ growing population, excessive development on individual plots can undermine residents’ quality of life.

Planning authorities must enforce regulations on plot coverage, setbacks, natural lighting and ventilation. Development approvals should also be linked to the capacity of existing infrastructure, including parking, drainage, roads and utilities. Traffic impact assessments are important where proposed developments could place additional pressure on surrounding roads.

Density should be concentrated along public transport corridors, while established low-density neighbourhoods are protected. Developers should also provide adequate shared facilities and green spaces. Where regulations permit, incentives such as additional floor-area allowances could be considered for developments that provide public amenities, green spaces or consolidate plots.

Lagos needs to move from plot-by-plot approvals to area-based planning. Higher density must come with proportionate infrastructure, parking, green spaces and public amenities.

Nairametrics: As development expands into reclaimed and previously undeveloped areas of Lagos, what planning and safety checks should be carried out to ensure buildings are suitable for the land and safe for future occupants?

Tpl. Godfrey C. Aniebo: Reclaimed areas such as Banana Island, Eko Atlantic, Orange Island and parts of the Ibeju-Lekki axis require careful planning and engineering controls. Development on these sites must account for ground settlement, flooding and soil liquefaction.

Before construction begins, developers should conduct site-specific geotechnical and environmental assessments. These should include borehole investigations, Cone Penetration Tests (CPT), Standard Penetration Tests (SPT) and consolidation analysis to establish ground conditions, groundwater levels, settlement risks and flood exposure. Environmental Impact Assessments should also be carried out where applicable.

Foundation designs must reflect the findings of these investigations. Depending on the ground conditions, this could involve piled or raft foundations. The placement and compaction of fill materials should also be properly monitored, with independent quality-control checks.

Developers must consider minimum floor elevations, drainage and hydrological assessments to account for tidal flooding and storm surges. Materials testing, staged construction inspections, regulatory certification and appropriate insurance are also important.

Development on reclaimed land should be guided by scientific investigation, sound engineering and effective enforcement, not merely the placement of sand.

Nairametrics: Flooding remains a major problem in many parts of Lagos. To what extent do poor development practices and inadequate drainage planning contribute to the problem, and what approaches could help improve flood management?

Tpl. Godfrey C. Aniebo: Flooding across Lagos, from Ikeja to Lekki and Ajegunle, is driven by heavy rainfall and worsened by poor development practices and inadequate infrastructure planning.

One major problem is the encroachment on waterways, wetlands and drainage rights-of-way. Some estates are developed without comprehensive drainage master plans that connect their internal drainage systems to primary channels. Undersized drains, excessive paving that reduces natural water infiltration, and waste or debris blocking drainage channels and unapproved culverts also contribute to flooding.

Building approvals should be linked to the State Drainage Master Plan and environmental regulations. Drainage corridors must be protected and restored through lawful enforcement supported by GIS mapping.

Developers and property owners should also adopt sustainable urban drainage systems, including permeable paving, retention ponds, green spaces and rainwater harvesting. Better coordination among planning, drainage and waste management agencies is equally important. Drainage channels must be regularly maintained and desilted, particularly before the rainy season.

Flooding may not be eliminated entirely, but its impact can be significantly reduced through better planning, infrastructure and maintenance.

Nairametrics: What improvements could make the process of obtaining planning approvals in Lagos more efficient and transparent, while also encouraging developers to follow approved plans and building regulations?

Tpl. Godfrey C. Aniebo: Lagos needs to move from a punitive approach to preventive enforcement and from manual processes to digital systems.

A unified e-planning portal that integrates planning, building control, fire safety and drainage approvals would make the process more efficient. It should provide a common checklist, application tracking and clear processing timelines.

Standardised fee calculators based on location, floor area and building use would also improve transparency. Verified payment channels can reduce discretion and the activities of touts. Open access to GIS-based zoning maps would help developers understand applicable land-use requirements before committing resources.

Authorities should also consider faster processing and incentives for developers who consistently comply with regulations, while maintaining effective enforcement against violations. Professional authentication and accountability are necessary to ensure that submitted plans meet the required standards.

A transparent approval process builds trust and encourages compliance.

Nairametrics: As Lagos continues to expand, what are the biggest planning concerns that need urgent attention, and what changes would help create better, more liveable neighbourhoods over the next five to ten years?

Tpl. Godfrey C. Aniebo: Lagos’ biggest planning challenge is that we are building houses, not complete neighbourhoods.

One major concern is unplanned densification, where existing bungalows are replaced with multi-storey apartment buildings without corresponding improvements in infrastructure. Floor-area ratio limits and proper impact assessments are necessary to ensure that development does not exceed the capacity of surrounding neighbourhoods.

Flooding is another urgent concern. The loss of wetlands, encroachment on waterways and excessive paving have increased the pressure on drainage systems. Better drainage infrastructure, rainwater retention and natural water infiltration must become priorities.

Poor connectivity also affects liveability. Neighbourhoods need walkways, reliable public transport and last-mile connections. The lack of essential facilities such as schools, healthcare centres, markets, parks and recreational spaces further reduces residents’ quality of life.

Over the next five to ten years, Lagos should prioritise walkable, mixed-use developments, supported by digitised development control, street-level zoning and satellite monitoring. Informal settlements should also be upgraded through improved drainage, water supply and tenure security without displacing residents.

A liveable Lagos requires more than houses. It needs drainage, schools, reliable infrastructure and complete neighbourhoods.




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