✋ Be Honest: What Can ₦5 Million REALLY Buy You in 2025?
Let’s not sugarcoat it — ₦5 million doesn’t go as far as it used to in Nigerian real estate. But with the right strategy, it can still open doors to solid investment properties, starter homes, or future land banks.
This article breaks down what ₦5 million can buy in Nigeria real estate today, city by city — no fluff, just facts.
📍 1. Abeokuta, Ogun State – Full Plot + Foundation (Yes, Really)
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Land: ₦600K–₦1.2M (Kobape, Obada, Ifo)
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Build Cost (1-bedroom unit): ₦3.8M–₦4.2M
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Total: ≈ ₦5M
Reality: You can still buy land, dig foundation, and build a modest 1-bed home.
✅ Tip: Join a local building co-op and buy cement in bulk.
📍 2. Uyo, Akwa Ibom – A Mini Flat or 2-Bed Apartment (Unfurnished)
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Buy Mini Flat: ₦4M–₦5M (Etinam, Aka Road axis)
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2-Bed Flat (Shell Finish): ₦4.5M–₦6M
Reality: You could own a liveable flat — ideal for rentals or student housing.
✅ Tip: Buy in off-plan projects targeting students or civil servants.
📍 3. Ibadan, Oyo State – Two Plots + Perimeter Fence
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Land: ₦1.5M per plot (Moniya, Elebu, Olodo)
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Fencing + Gate: ₦1.5M
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Total: ₦4.5M–₦5M
Reality: Invest ₦5M to secure two plots for future development — or flip in 18 months.
✅ Tip: Demand survey + receipt from a registered estate, not family reps.
📍 4. Lagos (Outskirts Only) – Half Plot or Joint Ownership
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Land (Epe, Ikorodu outskirts): ₦2.5M–₦5M
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Build Option: Not likely, unless you co-own or do container home
Reality: You’ll buy land, but probably won’t build yet. Good for long-term hold.
✅ Tip: Pair up with a friend and do a co-investment — many people do this in Epe.
📍 5. Asaba / Warri – Full Plot + Foundation Work
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Land (Ibusa, Illah, Jakpa): ₦1.2M–₦2.5M
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Foundation: ₦2.5M–₦3M
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Total: ₦4.8M–₦5.3M
Reality: With ₦5M, you can start building. Add rooms as your income grows.
✅ Tip: Use block makers + direct labor to save 10–15% cost.
🔑 Bonus: Can ₦5M Buy a House in Abuja?
Short answer: ❌ No — not in the city.
But in Kuje, Gwagwalada, or Zuba, you can:
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Buy a plot (₦1.8M–₦3M)
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Fence it and prep for future build
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Or buy a 1-room BQ-style unit in a low-cost estate (if available off-plan)
✅ Tip: Focus on resale plots — some owners are liquidating fast in 2025.
🧠 My Take
₦5 million may not get you a Lekki flat — but it can still secure entry-level real estate with huge upside:
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Land in fast-growing areas like Abeokuta or Ibadan
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Flats in emerging cities like Uyo or Owerri
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Co-build options in Lagos or Abuja outskirts
The secret: Get creative, stay patient, and always verify titles.
