Nigerians abroad ask this differently from Nigerians at home. At home the question is “how much is a house in my area”. From London, Houston or Toronto it is “how much is a house in Nigeria, in money I understand”.
This page answers both, using an exchange rate of ₦1,332.82 to $1 and ₦1,773.03 to £1 (20 October 2026). Rates move; the naira figures are the ones that hold.
What a house or plot costs, in three currencies
| What you are buying | Naira | US dollars | Pounds |
|---|---|---|---|
| Plot, Ibeju-Lekki (Bogije) | ₦8m – ₦25m | $6,000 – $18,800 | £4,500 – £14,100 |
| Plot, Sangotedo | ₦20m – ₦60m | $15,000 – $45,000 | £11,300 – £33,800 |
| Mid-market flat or terraced house | ₦25m – ₦60m | $18,800 – $45,000 | £14,100 – £33,800 |
| Plot, Abuja (Lugbe) | ₦18m – ₦54m | $13,500 – $40,500 | £10,200 – £30,500 |
| Plot, Lekki Phase 1 | ₦600m – ₦1.5bn | $450,000 – $1.13m | £338,000 – £846,000 |
| Plot, Abuja (Maitama) | ₦225m – ₦675m | $169,000 – $506,000 | £127,000 – £381,000 |
Pound figures are in the last column above. Note the ordering: the cheapest land in Nigeria is now within reach of a modest UK or US deposit, which is precisely why diaspora buying has grown.
What each budget band actually buys
Under $10,000 (about ₦13 million). Land in the outer corridor – Bogije and parts of Ibeju-Lekki – usually on excision or a survey plan, not a C of O. Real, and the riskiest band. Most diaspora losses happen here.
$10,000–$45,000 (₦13m – ₦60m). The volume market. A plot in Sangotedo or Lugbe, or a mid-market flat or terraced house in a secondary Lagos or Abuja location. This is where most first purchases land.
$45,000–$150,000 (₦60m – ₦200m). A good plot in a serviced estate, or a decent three-bedroom in a reasonable area. Increasingly the diaspora buyer’s band.
$150,000 and above. Lekki Phase 1 and above, or Maitama. Institutional-grade title, institutional-grade price.
Why the dollar figure is misleading
Three reasons a $ conversion flatters the purchase:
Build cost is in naira, and it is rising faster than the exchange rate. Cement has gone from about ₦3,500–4,500 a bag in 2024 to ₦12,000–16,000 in 2026. A plot at $15,000 still needs a house, and the house is priced in a currency that is depreciating.
You pay in naira. If you convert at today’s rate and the naira moves before completion, the naira figure is unchanged but your dollars are not.
Carrying costs are local. Service charges, ground rent, security and a caretaker are naira costs that do not shrink when the currency does.
Buying from abroad: the practical sequence
- Verify the title before anything else. A land information search at the state lands bureau, done by someone you instructed, not by the seller’s agent.
- Use a lawyer you appointed – not the seller’s, not the agent’s.
- Do not buy from photographs. Someone has to physically walk the land with the survey plan. Pay a professional.
- Pay in tranches against milestones – documents, search, consent – never the full sum upfront.
- Get the Governor’s consent as part of the deal. A deed of assignment alone leaves the state record in the seller’s name.
- Budget the build separately. Land is the cheap part of a Nigerian project in 2026.
Frequently asked questions
How much is a house in Nigeria in dollars?
A mid-market flat or terraced house is roughly $18,800–$45,000 at ₦1,332 to the dollar. A plot in Lekki Phase 1 is $450,000–$1.13 million. The range across the country is wider than most diaspora buyers expect.
How much is a house in Nigeria in pounds?
At ₦1,773 to the pound, the same mid-market property is about £14,100–£33,800, and a Lekki Phase 1 plot is £338,000–£846,000.
Is it cheaper to build than to buy?
Often, on paper – but the build is where budgets fail. Material prices have risen sharply since 2024, and a project that runs over by a year absorbs the saving.
Can I buy property in Nigeria from abroad without travelling?
Yes, with a power of attorney and a lawyer acting for you. What you cannot safely do is skip the physical inspection and the title search.
Which is better value for a diaspora buyer, Lagos or Abuja?
Abuja is generally cheaper per square metre outside the premium districts and has more consistent allocation records through the FCDA. Lagos has deeper resale demand. The deciding factor should be title, not city.
Last updated: October 2026. Exchange rates: ₦1,332.82/$1 and ₦1,773.03/£1 on 20 October 2026. Property figures are 2026 market ranges from Lagos and Abuja sources cited on our land price pages. Indicative, not valuations.
