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IslandUltraLGA: Eti-Osa👥 3,000

Rent in Banana Island

Known as "Billionaire Row"
2-bed annual rent
₦30.0M–45.0M
/yr
Rental yield
3–4%
YoY change
▲ 18%

Rent by property type

Property typeRent range
2-bed₦30.0M–45.0M

Area profile

Power bandA
Service charge / yr—
Location6.4375, 3.4195
InternetExcellent
TrafficLight
Flood riskModerate
Noise levelQuiet

Estimated monthly costs

Rent (monthly equiv.)
₦3,125,000
Power (NEPA + supplement)
₦153,325
Total monthly
₦3,278,325
Lagos.Cool Editorial
4 June 2026 · 2 min read

About Banana Island

Banana Island is where Nigeria's wealthiest 0.001% live. A man-made crescent-shaped island in the Lagos Lagoon, accessible only through a single guarded road, it's home to former presidents, oil tycoons, and Nollywood elite. Rents of ₦30M–₦45M for a 2-bed put it in the same league as Monaco and Mayfair. The island has its own infrastructure — power plant, water treatment, private security — making it almost independent from Lagos's grid failures. For 99.99% of Lagosians, it's a destination for Instagram photos, not a realistic living option.

✓ Pros

  • ✓Independent infrastructure — own power plant, water, security
  • ✓Most exclusive address in West Africa
  • ✓Zero crime
  • ✓Lagoon views from every property
  • ✓Maximum privacy

✗ Cons

  • ✗Rent ₦30M–₦45M — accessible to fewer than 1,000 families
  • ✗Single access road — vulnerable to flooding/blockage
  • ✗Isolated — everything requires driving off the island
  • ✗No retail, restaurants, or nightlife on the island itself
  • ✗Brackish water despite treatment facilities

Lifestyle & Amenities

🛣️ Key streets

  • • Banana Island Road

📍 Landmarks

  • • Ocean Parade Towers
  • • Bella Vista Towers

Ideal for

Ultra-wealthy familiesDiplomatsCorporate executives

Nearby neighborhoods

Ikoyi
Island · Premium
₦15.0M–25.0M
+15% YoY
Victoria Island
Island · Premium
₦10.0M–20.0M
+14% YoY

Nearby schools

No schools indexed for this area yet.

Water in Banana Island

PoorBrackish (salty)Borehole: not viable

Reverse osmosis required. Most residents use tanker delivery.

See Banana Island water details →
⚽ Sports

Viewing centers in Banana Island

Where to watch the Premier League and Champions League nearby.

See viewing centers →
🏋 Facilities

Gyms & pitches in Banana Island

Sports facilities — pricing per hour / month.

See facilities →

FAQ

A 2-bedroom apartment in Banana Island costs between ₦30,000,000 and ₦45,000,000 per year, depending on the building and proximity to main roads. Rent is paid annually upfront.