Lagos Government’s New Coastal Road Project — What It Means for Epe and Ibeju-Lekki Investors

Introduction: A New Era for Lagos Infrastructure

In May 2024, the Lagos State Government flagged off one of the most transformative infrastructure projects in the state’s history — the Lagos Coastal Road, stretching from Ahmadu Bello Way in Victoria Island to the Lekki corridor, and ultimately connecting to the Lekki–Epe expressway.

This project isn’t just another road.
It is a wealth re-distribution engine — shifting value, people, businesses, and capital towards Epe and the broader Ibeju-Lekki axis.

For investors, especially HNIs and diaspora buyers, the question is simple:

“How will this coastal road reshape real estate prices — and where is the next hot zone to buy?”

Let’s break it down.

H2: What Exactly Is the Lagos Coastal Road Project?

The Lagos Coastal Road is a multi-phase express route running parallel to the Atlantic Ocean.
Its key goals include:

  • Decongesting the Lekki–Epe expressway

  • Providing an alternative route to Victoria Island

  • Enhancing movement around the Lekki Free Trade Zone

  • Opening up new residential and commercial corridors

The project is being executed in partnership with private sector engineering firms, with major sections running through:

  • Victoria Island

  • Oniru

  • Lekki

  • Chevron–Lekki

  • Ajah

  • Abraham Adesanya

  • Ogombo

  • Lekki Conservation Corridor

  • And extending towards Ibeju-Lekki and Epe

This is arguably the biggest coastal development in Lagos since Eko Atlantic.

H2: Why This Road Is a Big Deal for Real Estate Investors

1. Reduced Travel Time = Price Appreciation

When major infrastructure reduces travel time, property prices react instantly.

A trip from Epe to VI currently averages 1 hour 45 minutes.
The coastal road will cut this to 45–55 minutes.

This single improvement will drive:

  • Higher land demand

  • Stronger appetite for residential developments

  • Increased commercial positioning

  • Higher valuation for estates along the corridor

2. The Lekki–Epe Extraction Effect

Just like the Third Mainland Bridge raised land prices in Lekki Phase 1 and Oniru,
the Coastal Road is expected to create a similar displacement of value.

Real estate follows one simple law:

Where roads go, value follows.

Epe is now transitioning from “upcoming area” to strategic hub, due to connectivity on three fronts:

  • The standard Lekki–Epe expressway

  • The proposed 4th Mainland Bridge

  • The new Coastal Road

Once this road links directly to Epe, expect the next price shockwave.

3. The Ibeju-Lekki Appreciation Surge

Ibeju-Lekki already hosts:

  • Lekki Deep Sea Port

  • Dangote Refinery

  • Free Trade Zone

  • Kellogg’s, Power Oil, and other multinationals

  • Lekki International Airport (under construction)

The Coastal Road adds the missing piece: premium coastal access.

This will push certain areas of Ibeju-Lekki into the luxury market bracket, especially:

  • Ogombo

  • Okun-Ajah

  • Eleko Beach corridor

  • Free Trade Zone axis

  • Ayetoro

  • Alaro City–Epe corridor

Savvy investors are already positioning themselves.

H2: Expected Price Movement Over the Next 5–8 Years

Based on infrastructure-led patterns observed in Lagos over the last decade (Lekki–Ajah, Ikorodu corridor, and Abule-Egba axis), price appreciation follows a predictable cycle:

Phase 1: Announcement (0–2 years)

  • Moderate price increase

  • More speculators enter

  • Early developers secure land banks

Ibeju-Lekki: Already happening
Epe: Starting rapidly

Phase 2: Construction On-Site (2–5 years)

  • Sharp appreciation

  • Investors begin resale

  • Developers launch new estates

Expected growth:

  • Ibeju-Lekki: 80–150%

  • Epe: 150–250%

Phase 3: Completion (5–8+ years)

  • Rapid commercialisation

  • Luxury developments emerge

  • Highest ROI for early investors

Expected growth:

  • Ibeju-Lekki: 200–300%

  • Epe: 300–500%

(These are estimates based on historical Lagos infrastructure trends.)

H2: What This Means for Current and Prospective Investors

✔️ 1. Epe Is the Safest High-ROI Land Banking Zone Right Now

Epe’s land values are still undervalued when compared to their future connectivity.
Many areas still sell between ₦2.5M and ₦12M, depending on title and proximity.

As the coastal road links into Epe from the Eleko corridor, these prices will not remain low.

✔️ 2. Ibeju-Lekki Is Entering Phase 2 of the Wealth Curve

Prices are rising; developers are accelerating layouts; commercial zones are expanding.
This is a good time to buy second-tier locations still in the ₦8M–₦25M bracket.

Early-mover advantage still exists — but not for long.

✔️ 3. Waterfront Regions Will Become the New Premium Market

Water and road access create luxury markets automatically.

Expect areas near:

  • Ogombo

  • Okun-Ajah

  • Eleko Coastal Belt

to transition into high-end residential and hospitality zones.

H2: Where Smart Investors Should Buy Now (2025–2027 Window)

Based on current construction data, investor behaviour, and title availability, the strongest opportunities are:

Top Picks — Epe

  • Ketu–Epe Road corridor

  • Epe Alaro City extension

  • Epe–Ijebu expressway axis

  • Epe–Poka educational belt

Top Picks — Ibeju-Lekki

  • Ayetoro

  • Free Trade Zone

  • Eleko Junction corridor

  • Ogombo Coastal belt

H2: Final Thoughts — The Coastal Road Is a Catalyst, Not a Fad

If you missed the Lekki Phase 1 boom…
If you missed the Abraham Adesanya boom…
If you missed the Sangotedo boom…

The Epe–Ibeju-Lekki Coastal Corridor is your next big chance.

“Every major Lagos road project in history has created generational wealth for those who invested early. This one will be no different.”

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