Where are the cheapest lands in Nigeria located?
That’s a question you’ll ask if you want to invest in real estate at the lowest possible cost. It shouldn’t be the only thing you consider. The long term value of the property, its accessibility, and suitability for your purposes are also crucial factors you’ll want to examine. Still, your choice of land must fit within your budgetary limits.
Whether you’re keen on finding real estate that your little purse can cover, or you’re just curious about where the least expensive real estate prices can be found, you’ll find this article useful.
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Below are the top seven states with the cheapest lands on sale in Nigeria.
There are plots of land on sale here for as low as ₦150,000. However, prices differ across districts and local government areas within the state; at the state capital, a plot sells for upwards of ₦1.5 million.
Zamfara isn’t one of the hottest real estate locations in the country. But it has plenty of potential for agriculture, so it’s a fairly good place to own a farm. You could find a plot of land valued at ₦120,000 (at Anka Local Government Area, for instance). Many of the lands on sale are priced around the ₦200,000 to ₦250,000 range.
Located to the east of Bauchi, Gombe throws up land prices fairly similar to what’s available within its neighbor’s boundaries. If you’re a great bargainer, you could secure a full plot of commercial land for just ₦100,000. Similar property sells for slightly higher (about ₦120,000) in local government areas like Dukku and Kwami.
A 700 square meter of potential industrial space at Iwo may sell for about ₦120,000. But if you’re talking agricultural land sited in Ijebu Igbo, expect to find prices pegged at ₦80,000 per acre. That’s a much better deal than you’ll find anywhere 250 km to the south (Lagos).
You might take a deal worth ₦150,000 to ₦200,000 for land in Katsina. But there’s a lot of arable expanse selling for much lower in that state. For example, you may find a good plot of farmland on offer at Ingawa, Katsina, for ₦100,000. And if you’re at Charanchi LGA, it could be priced as low as ₦70,000.
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Jigawa is just north of Kano. But its land prices are, on average, far cheaper than what’s available with its southern neighbor. The least costly lands in Jigawa are priced between ₦70,000 per plot (Ringim LGA) and ₦90,000 (Buji LGA).
At first glance, it seems counter-intuitive that Oyo should have some of the cheapest property in Nigeria. But it does have a lot of good space, so there are jaw-dropping prices to be found here. Even in the vicinity of Ibadan, you can find commercial land for farming purposes valued at just over ₦100,000 per plot. In certain locations, this price could drop to a surprising ₦55,000 per plot.
The estimates used here rely on valuations provided by property sellers in each state. There may be even cheaper options elsewhere. This list presents a fair approximation to reality, given available data.
In the end, your decision to invest in specific locations should come down to more than just the prices quoted for them. Make sure they are suitable for your purposes and have the potential to bring in good returns.
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