Banana Island

Banana Island is one of the six artificial islands created in Lagos State. Located off the foreshore of Ikoyi, Eti Osa Local Government area, just like Palm Jumeirah in Dubai, UAE, the island derived its name from its banana shape.

Well planned, mixed development with residential, commercial and recreational facilities, Banana, as the estate is popularly called is located 8.6 kilometres east of Tafawa Balewa Square, Banana Island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Power, Works and Housing and is considered to be on-par with the 7th arrondissement in Paris, Palm Deira and Palm Jumeirah in UAE, San Diego in California and Tokyo’s Shibuya and Roppongi neighbourhoods.

Sitting on a sand-filled area of approximately 1,630,000 square metres and is divided into 536 plots (of between 1000 and 4000 square metres in size), the Island is served with utilities, including underground electrical systems, water supply network, a central sewage system/treatment plant, street lighting and satellite telecommunications networks.

There is a plan to build a 5-star hotel on the island, along with an array of smaller Guest Houses. Property value on the Island ranks among the highest in sub Saharan Africa.

The estate is home to some of the richest Nigerians including billionaire businessman Aliko Dangote and Mike Adenuga, Afrobeats artist, Davido, iconic footballer, Austin J.J. Okocha, model and blogger, Linda Ikeji, former Nigerian senator and daughter of former president Olusegun Obasanjo, Iyabo Obasanjo-Bello among others.