Living in Ikoyi: A Posh Haven of Luxury and Elegance


Nestled on the eastern half of Lagos Island, Ikoyi stands as a testament to sophistication and opulence. Originally designated as a residential area for the expatriate community during the British Colonial era, Ikoyi has evolved into a thriving cosmopolitan hub. Home to diplomats, senior corporate executives, and public servants, Ikoyi boasts a unique blend of exquisite residential apartments and commercial establishments, making it a coveted address in Lagos.

Cost of Accommodation in Ikoyi: A Lap of Luxury

Undoubtedly, Ikoyi is a splendid place to live or work, adorned with well-educated and enlightened residents. The accommodation options in this part of Lagos rival those in Europe and America. A glimpse into the real estate landscape reveals that a typical 3-bedroom apartment in areas like Banana Island and Park View Estate commands an annual rent of as much as N24 million (approximately $150,000). The exclusivity of Banana Island often considered Nigeria’s most expensive neighbourhood, parallels global counterparts like the Seventh Arrondissement in Paris and La Jolla in San Diego. Accommodation in places around Obalende and Dolphin Estate, though relatively less expensive, remains beyond the reach of many in the middle class.

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In the realm of luxurious living in Ikoyi, G2 Residence takes centre stage. Developed by Cruxstone Development and Investment Limited, G2 Residence epitomizes architectural grandeur and modern elegance. This exclusive residential development offers a lifestyle of unparalleled luxury, catering to the discerning taste of its residents.

Thriving Business Landscape

Ikoyi isn’t just a residential haven; it’s a thriving business district. World-class companies like KPMG, Julius Berger, Zenon, Intercontinental WAPIC, and NNPC have chosen Ikoyi as their corporate headquarters. The landscape is also dotted with shopping plazas like the Palms Shopping Mall, Kingsway Shopping Centre, and Dolphin Estate Shopping Centre, creating a retail haven for residents. The bustling Awolowo Way is home to numerous fashion houses, boutiques, salons, supermarkets, and pharmacies.

Roads and Infrastructural Facilities: A Blend of Heritage and Modernization

Most roads in Ikoyi were constructed during colonial times, but the Lagos State Government’s rehabilitation projects have ensured their modernization. Despite its historical charm, Ikoyi enjoys improved public infrastructure, with ongoing efforts to reconstruct roads. While challenges with electricity supply and potable water persist, residents, with their financial capacity, install boreholes and generators for a seamless living experience.

Seamless Commercial Transportation

Commercial transportation in Ikoyi is a well-organized affair. Dedicated commercial buses transport passengers to and from Ikoyi, providing a more structured system compared to other parts of the metropolis. Notably, certain areas like Banana Island, Park View, Osborne Road, and Dolphin Estate restrict other commercial vehicles, enhancing the exclusivity of the neighbourhood. However, the cost of goods tends to be higher in Ikoyi, reflecting its poor status.

Educational Excellence in Ikoyi

Ikoyi stands as a hub for elite educational institutions in Nigeria. Prestigious schools like Corona Schools, Banana Island School, and Greenwood House School cater to the academic needs of the privileged. The fees, sometimes exceeding N5 million per year, reflect the commitment to providing top-tier education.

Night Life: Where Luxury Meets Entertainment

Ikoyi doesn’t fall short of providing entertainment after dark. The nightlife is vibrant, with top-notch nightclubs such as Club 10, reportedly owned by JJ Okocha, and “The Vault” at Idowu Martins Street. Club Towers on Idowu Taylor Street adds to the allure, while luxury hotels like Intercontinental Hotels and Radisson Blu Anchorage Hotel elevate the nocturnal experience. Learn more on Wikipedia.


In conclusion, living in Ikoyi is a symbol of affluence, tranquility, and a lifestyle curated for the discerning few. Its allure goes beyond posh accommodations; it’s a confluence of business, education, and entertainment. Ikoyi stands not just as a neighbourhood but as a statement of elevated living in the heart of Lagos.

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