Why Eko Atlantic City in Lagos is still Empty 

It is 100% privately owned!

Thank you for the emphasis😅@@dewsbabababa8006

No mind those yeye ignorant commenter ​@@dewsbabababa8006

Well said! A project fuelled by greed & unnecessary show off.

Not gov money abeg Privately own.. Investors are supposed to troop in and erect buildings bit I can't tell why it is not happening

Yes

Did your country have 24/7 power supply?

@@chrisudoka5420 what he said is absolutely true, no need for your defensive response. Nigeria needs to focus on having basic amenities that is more likely to foster long term growth and development.

@@co6429 what do you have in your country?

@@chrisudoka5420 don't mind those fool instead of them to focus on their undevelope village they are coming here to writing nonsense

We are all disappointed in the government. you are not alone on that

Volume please, I'm feeling you!

In Nigeria it's all about who you know and money. Then you have power.

Any project or just real estate?

@@kingsleyonyemaechi4129 Any project....i have my reservations myself, it's just so long to type

I agree. Rezone it as middle and high income and within 2 years that place will be pretty much full. Also force all commercial buildings of 30 stories and above to be built in the commercial district (downtown) of Lagos island in order to expedite the process of filling out the districts commercial skyline.

I totally agree

Eko Atlantic isn't for the average Nigerian; it's priced in Dollars because they want foreigners to invest in it

@@arulebadamilare4847 then it will continue to sit nearly empty for a very long time.

@@arulebadamilare4847 so when the foreigners invest, who will live in it? The foreigners? According to them, it was built to improve housing for Lagos citizens, will citizens also pay in dollars?

Yes but this is Lagos with one of the worst traffic problems in the world. If there isn’t provision for low income earners such as the staff, then imagine how long it’ll take them to get home, and to get to work.

Yes while I agree with you but this project is a facade as it will not benefit the population at large, and will further contribute to class segregation, in a country where the economy continues decay, and inflation is 300% in past 15 years, the creation of job is also a mirage, as it will not even benefit the workers, many currently working on the island and living in the mainland are already finding it hard to make ends meet, and this will worsen it, this is just a private project for profit and should be labeled as such and not a benefit for the population at large

Everyone should see this message

They said house 250,000pple. So it definitely means they have a target market. It is not made for the average nigerian and that is okay. As long as it would help the GDP of the country at large. And they shouldn't settle for less. They already have a plan. Imagine selling a plot for 1million naira. What building will a person that can afford 1m build? A mediocre building. Definitely lesser than expectation. They should just stick with their plans. Things would still work out well. Great things need not to be rushed!!!

​@@cheekypigg how must tourist we be paying every day to sleep and eat that eko at city is a overprice project there are many project around the world you can put your money rich people are not fool the invest wise and expecting return delay is dangerous

Yep. Its African politicians who neglect their jobs for years, and then think that investing in these vanity projects will make a difference in the lives of the millions they leave behind. Do not leave the poor behind. A developing country has to empower its people as much as possible. That's what the Koreans and Japanese did.

@@rickmorty7284 It's not the Politician but the ordinary Nigerians who elect those incompetent politicians. I cannot compehend the fact that Nigeria has over 200 million population and still not able to select the best leaders to help move the country forward. This only proves that NIgeria is not yet ready for this kind of development because they don't have the right mindset to break the cycle of corruption, incompetence, violence and poverty.

​@@maxsteel2017man every Nigerian should read this comment and break the chain of corruption

It’s more like a clone of the model in Dubai. They probably want people to move to Nigeria but it’s not going to happen with the lack of infrastructure and poverty in the city. Safety will always be a concern.

@@maxsteel2017 Elections are rigged in Nigeria. So, it does not matter who you vote for. The corrupt politicians will just put themselves and their cronies in power. There is no hope for the country.

No. Nigeria doesn’t give a damn about it’s citizens. Even China built proper housing and neighborhoods for their working class with all basic amenities intact. If you’re not rich it’s like you’re cursed, as far as Nigeria is concerned. Incredibly classist society.

Thanks, for airing my thoughts . I bet they view success and socio-economic development differently.

This is not govt project, it's private enterprise , they are doing it to make money, not to improve the lives of people living on the main land.

The government don't love it's people

This is not built by the government, get your facts before making comments

Places like Dubai are doing things the right way, Nigeria loves working backwards. The first thing you do if you want to build a new city is to attract businesses and not apartments.

@@obinnaezealah2465 I just tire.

Dubai did have the buildings up and running quickly. But you know what happened afterwards? The buildings sat empty for years because they built too fast. Organic growth is also important

Even Dubai's fake man man islands have all been abandoned too...you can't cheat nature and rising sea levels

Dubai is rich....buts am sure the project will be something by 2030

Yh I agree and the prices are extremely high my god ,how are they going to sell to 200 thousand people this apartments where even the 99.9%of the population in the UK cannot afford places like this ,how can the local pay for $1.5 millions for an apartment, in my point the hardest part for this project is going to be selling those apartments in my opinion.

Nigerian so called leaders are clueless and without vision. Perhaps it is by design. No trains and no buses ensures poor people are kept out. When Nigeria implodes and the poor begin to eat the rich, do you think they want to be easily accessible? Most Nigerians can’t even afford Ikoyi or Maitama (most houses there are vacant) but they want us to believe this will benefit the masses that earn roughly $5,000 per year or less lol This project is for foreigners who will take over the place and keep Nigerians out. Don’t be surprised you’ll see “no Nigerians/Africans allowed” posted in their cafes, restaurants, and night clubs.

Honestly Japan China This people are very innovative

@@Braimoh U're right. Japan is extremely innovative when it comes technology. Singapore too. A country with issues similar to Nigeria and In 30 yrs, they have changed the course of their history for the better. Nigeria is at a high risk of a water crisis and haven't even taken aggressive steps to course correct. Its sad.

Nigeria really needs to adopt a Singapore model

Exactly It’s just corrupt with no regulation. Who will pay $1.5 million just to be in a country without good healthcare, insecurity, and the real possibility of civil unrest and civil war breaking out at any moment. Your investment will not be safe, no matter how “good” the economy may seem. Ghana for west Africa Kenya for East Africa Namibia and Botswana for Southern Africa, etc

​@@goldenismonica1522guy rest the investors have invest their money and they know what they see before they do so, you can not tell them otherwise because they've do all the analysis before they invest billions of dollar there.

They simply build it for foreign investors to attract them and come to Nigeria and the project is funded by private investors. Stop complaining about everything yet you are not doing anything to make improvement, those countries you are talking about start somewhere so if you run go there who will build your own country?

It is a dangerous pkace mot safe. So close to the sea. You will sleep there and wake up unfer 💧 water.

All the lands have been sold already. In fact, some of the finished apartments have been bought. What's left now is for buyers to start building which some of them have started.

@@PepTalkTillYouDrop keep tickling yourself

@@PepTalkTillYouDrop for obvious reasons, you missed that part where he said there are 21 lands still up for sale, just go to 04:19.

If good for the environmental protection of that area but another coast line would definitely feel the impact.

@G best they can do is simulate but they definitely don’t have the data to simulate with. I’m sure they’re seeing the impact around by now in places like oniru and environs.

What’s wrong with you Nigerians, always complaining

@@akinoladamilola5021 smart brother 👏🏾. Most people many not understand impact assessment elsewhere along the shoreline.

For those who are customers of the therapy med spa in Eko Pearl in Eko alantic, this warning is for you, the owner of the therapy med spa in Eko Pearl in Eko alantic is a witch and a prostitute and if you are ready to loose your husbands, for the women she can distroy your beauty just to make sure that you die in pain and slowly, she can also set your husbands and children up just like she did to the contractor lady who cleaned the therapy med spa, she paid the people where the lady stays to drive her away thinking that she will lead them to her family members so that she Tayo Ibrahim zibiri and her husband can murder them which she didn't do because someone inform her of their plans and Tayo Ibrahim zibiri and her husband have paid their hired assassin to rape and get this lady contractor pregnant where she stays, now Ibrahim zibiri and his useless and prostitute wife are fighting this lady because she is poor and every where that she seek for contract Tayo Ibrahim zibiri and her husband have been going there to tell them not to give her the contract and I saying this, Ibrahim zibiri and Tayo Ibrahim zibiri after you finish burying your whole children, you will die a miserable and a painful death and if you think that your jazz will turn it like you have been sending your hire assassins to do then you fail this time because we also know that you knew her even before she cleaned for you because you sent your hire assassin to murder in the year 2020, we are watching you, for you in Eko Pearl in Eko alantic, Ibrahim zibiri and his useless, prostitute wife are gboko haram and since you all have been warned and have refuse to do anything about it, then on the that Eko Pearl in eko in eko alantic collapse, then you can die with them because birds of this same feathers flowns together, anything that will happen let it happen now because for you Ibrahim zibiri and Tayo Ibrahim zibiri the battle line is drawn

God save Nigeria :)

There are enough wealthy Nigerians to turn Nigeria into a world class country, but too many of these developments are given to foreigners who could care less about the completion and who either want to stop progress due to other investment or are looking for profit that is not there. It is ridiculous.

Is SA a city? If yes, where? Thanks and regards, yours sincerely, none program loop 9ja citizen 9ja my country, peace ✌️

@@wasiukareem1906 It will take years to complete. Nigeria right now is not attracting foreign investment, nor tourism either. The Chinese are the only race coming to Nigeria for expoit Nigeria with useless large projects like airports etc. Right now their economy is tanking so who are the new investors for this white elephant project in a country with safety and fluctuating curreny issues? The equation is rather bleak.

How about improving existing cities like Lagos, Abuja, Kano than trying to build a new city

@@wasiukareem1906 SA is south Africa just showing love come on

It's not necessary for Nigeria. Nigeria should be decentralised instead of doing the bidding powers that be.

Thanks for always watching 💪

Even Sandton was empty in the 1970s. Nigeria will eventually make it happen. The slow growth is what is needed for the city to grow organically.

@DemiKhay Africa TV Thank you DemiKhay Africa TV.

That's what is going to break this project.

There are 54 countries in Africa. So, which country are you referring to?

@@naturalblockade3412uganda to be specific. But such practices are very common in most African nations.

This is exactly it why would a wealthy person invest in such a place and not have peace of mind when there are so many other places to consider. We are deceiving ourselves to be honest.

wonderful piece

As we speak there's only on road connecting Victoria Island to ajah all the way to ibeju Lekki and epe, just one road o, and we all know how congested that axis is. To make it worse the coastline which would have been used for a super highway starting from Eko hotel has been sold to estate developers. There are hundreds of estates on that stretch with just one access road. It's very pathetic

There is plan to build another international airport in Lekki axis

There are enough wealthy Nigerians worldwide to finish this project I guarantee... anyone that says any different is a fool. There are enough wealthy Nigerians to get this done. Kick out the developer and get this thing done.

@@josephjames6339 Getting the project done is different from people coming to buy or own houses or projects there.

Well said honestly you have said it all . People need to understand there is a difference between luxury real estate and affordable real estate

@@josephjames6339 do you really need to call anyone a fool for their opinion?

Well, the developers actually said they've sold all the properties there and all that is left to do is for the buyers to build on their properties.

And more means to exploit 9ja, knowing they already have in mind third world citizen would wanna immigrate, why persuade them to pay for visa application fee? Simple things should be kept simple. 9ja my country, peace ✌️

Having a US embassy of an island is literally inviting the coloniser onto your land, it's a horrible idea, 'embassy' my arse, it's a military base.

Nigeria must focus on tourism and earn hard currency ! Yes many Nigerians can't afford this but this will create jobs plus bring in tourist and that will open more projects

The city is majorly to housed offices and business. The complain that the common man can't stay there is not valid, city are not definitely built by private developer for people that can't afford it but ultimately, the poor and middle class always benefits in the form of jobs and business opportunities

This one thing you always see reoccur through out Africa always delay after delay you will never see this in Europe or Middle East why must African infrastructure take so long to complete

@@eniolabakare6839 because by design Africa is primarily a consumer continent, very little of anything is actually manufactured there. So starting costs to build in most places in Africa are much higher than in anywhere else in the world, almost everything has to be sourced elsewhere and brought there to begin a project, this often includes suitable workers, foreman, engineers and supervisors for the projects as well. Poor infrastructure to transport supplies and equipment to the job site causes more expense. A presence of insatiable corruption at the top is another major extra expense as many hands need to be greased in order to keep the project from being purposefully bogged down in red tape.

@SynergyEnergy we are just so backward in Africa 🤦🏽‍♂️

@@okoriesolomon7797 yes you are right, which is why me, you, our children has to make the change(become producers, investors etc) and the continent will be great again.

Hahah. All this must be a joke

Yes, finally someone is stating the obvious. It seems silly over-stuffing an already full can of sardines.

You do realise real estate is expensive in Lagos because of the high demand for affordable housing in the city.

@@onweobinna2644it’s expensive due to scarcity. Then ask yourself why it’s scarce.

Most living there will not be black Africans!

this is a good point. companies shouldn't lowball their workers because of the strength of the dollar compared to naira. pay them equal.

Don't need new cities, we need to fix old ones.

Be careful of what you ask for,these incompetent leaders may be selling our lands in our eyes 🤔🤔

@@derickofodirinwa5104 no we need to do both

@@elijah5682 I still disagree. When you build new cities, economics and humanity has it that attention will shift. The prices at the previous city will drop. Their tax revenue will drop. Property value (#1 source of accumulated wealth for ordinary ppl) will drop. The new city will only be affordable for the rich. The rich, who are not homeless, will use it to accumulate 2nd-4th-9th houses. It will contribute no additional wealth. But if you take your city that's already there, already proven it's economic viability, and invest your 'new city' money into renewing the old city, all of the property owners (regular people), will see the value of their investments skyrocket and you create several new rich people. The Dubai/China style city that's planned from someone's head has proven again and again to not work. Many like the aesthetics of a new city and that becomes more important than the logic and practicality. Nigeria already has a fully functioning planned 'new city' called Abuja. Abuja's existence has not impacted the lives of the average person, and is primarily a place for politicians to buy multiple houses. It nice and modern but the immediate impact on even its surrounding communities has been what I described previously

@@derickofodirinwa5104 Name me one country that is a first world / developed country today that didn't start with building new cities or at least one new city. Lemme name a few that did build new cities or did a major upgrade n it turned out to be the best thing to have ever happened in those countries. USA - New York, China - Shangai, Ghuanzou and Shengen, UAE - Dubai and Abu Dhabi, Italy - Milan, most these cities are not original capital cities of these countries, they were build later with a vision to revolutionise Trade, Tech, and research and some were designed as tourism herb the main purpose was to boost economy and to create new jobs in those countries. The rest is history , won't say much.

Never... let Dangote or TAF finish it and sell houses to middle class people.

@@josephjames6339 Dangote is broke now ,he just finished building the biggest refinary plant in Africa,I don't think he will be able to handle Eko . But if you give him some few yrs maybe he can, I suggest.

@@josephjames6339 No. Lagos doesn't need another middle class rat hole, it deserves an upscale skyscraper district.

@@josephjames6339 No. Lagos doesn't need another middle class rat hole, it deserves an upscale skyscraper district.

@@victortomorrow8159 he is not broke. He just has his money tied in other projects.

More issues to be discussed and to always be discussed. Yes, why a poor country isn’t bothered about being poor, maybe cause it’s third. Lagos won’t get Nigeria anywhere! I see comment about airport, A well sophisticated program. Epe mega projects could easily be connected by ferries and the rest… 😁 With life expectancy, which youth generation will partake in the 400k jobs!!! 9ja, this project is not needed for now!!! Tebele, keep reminding people pleaser, we don’t need Lagos alone, wake up, this tourist stuffs is being done in other part of Nigeria yet we’re still third world and nothings gonna change!!! It’s all programmed, the colonialist ensured the programs won’t fail, wake up and rethink, youths 🤣 don’t get carried away with 400k jobs that won’t reach your 3rd generation from 2022. 9ja my country, peace

lol....jelousy

Well said. The project is a misplaced, waste of time and money venture. It's very clear to see if you can project into the future after extrapolating the various social and economic trajectory of Nigeria. 1. Non existing pipeborne water system in the whole of Nigeria. 2. Dilapidated and grossly inadequate electricity generation and distribution in the whole of Nigeria. I've always pictured in my mind the rest of Lagos with Eko Atlantic given the infrastructural disparity that will be very obvious and my conclusion has been that it won't happen. 3. The social and economic future of Nigeria is bleak so what exactly is the city being built for? If you study the development stages of all developed countries, you'd notice that the basic needs of the society where met with visible results before bolder projects were considered for investment. Nigeria currently cannot feed herself, have terrible roads and transport systems, no pipeborne water, poor electricity, grossly inadequate number of factories and industries, abysmal health care system, poor basic salary and inadequate housing even in Lagos. How will Eko Atlantic City improve any of these fundamental inadequacies? I see no tangible benefit it will add apart from just the beauty of the city and bragging rights for some individuals. A little search on youtube will reveal many of such failed projects in many countries which some how the brains behind it are yet to see. Well I say, good luck to them.

It's a private investment with land reclamation cost with infrastructure investments in excess of $6bn. How do you expect the investors to recoup the sunk cost with cost of funds and profits? Selling it for cheap is the easiest way to ensure coastal states like Rivers, Bayelsa, Ondo, Akwa-ibom will never get private investment in urban renewal

@@yinka2615 i thought Nigeria was a big boy $6b shouldn't be much. Anyway private or not for an investor it doesn't make sense i would need to write 1000 words to explain look at dubai,uk us choose to own and build rather than private owners buying and build

@@harunnganga4957 Dude, land ownership is not controlled by the Nigerian government but the states. Nigerian government has no power to lease any land without the state approval.

@@dejijames4516 anyway lets wait for another decade and see hope not 4 more building built

@@harunnganga4957 $6bn is more than 2 years revenue of Lagos state the state with the biggest revenue in Nigeria and at least a quarter of forex earnings of the entire nation. Even $100m investments can't be thrown away on the alter of big boy please.

Even diasporians can't afford this ridiculously overpriced place with basic amenities 🙄 the hype just doesn't justify the investment. I see this going downhill real quick, because for the prices listed you can get something so so much better in a developed country.

@@purplehaired_girl1174 like where excatly? To build this things in Africa is more expensive. But watch and see when it comes life in our life time

@@purplehaired_girl1174 yes the average diaspora might not be able to afford it.

@@williamsolawale4208 and yet Africa is the country that supplies the raw materials for a majority of these products built. We have to be honest with ourselves and stop charging a premium for basic amenities, for the price they are offering for these buildings you can get something much better in Lekki, Ajah, VGC etc. It is just expensive because of the "location".

@@williamsolawale4208 even wealthy Nigerians would not necessarily want to put in so much into something that doesn't offer that much. Rich people are not stupid, if they were they will not be rich.

Yh I was shocked initially then I look it up and it is around $2k instead ,only few African countries make on average $7k or higher in Africa .

There's a reason its still empty after 10years. Nigerians are poor for the most part. Only thieves and corrupt politicians can afford it and the country is not safe enough to attract outside investors. Naira is too volatile and basic amenities are a premium. Why would any sane person from abroad buy houses at exorbitant prices here?

I don't get it, you're happy that their building eko alantic when 98% of the people can't afford to live there? Nobody wants to live in hell a.k.a. Nigeria

@G lol. True. Although I meant they have enough to afford it. Whether they spend is another thing. They'll probably buy a few so they can store raw dollar notes that have been looted from Nigeria's coffers

@@tanyacaberro2546 There are many that can afford it in Nigeria but they won't want this when there are other available options. $3 million dollars will be too small from Nigeria oil money, corrupt politicians are embezzling more day in day out. Some just stole $11 million dollars worth of oil few months ago. They just won't want people to know they have the money that's why they can't spend on this project

You’re sure to be in the program loop. I see someone state $11m vessel theft, well, it ranges in $100m for vessel theft. See, Lagos won’t drive 9ja to any where. I even decided to spend time in Abeokuta, I discovered they don’t have good food there despite its not far fetched from Lagos, oh, people didn’t explore importing from Lagos? Let the media keep deluding the ones in the program loops

Thanks for watching💪

With all due respect, rather interesting how some folks can tell that “this infrastructure does not serve its own people” and decipher what the “real needs” of our communities are better than those of us daily on the ground and actually from the aforesaid communities. SMH 🤦‍♀️

@NFT Daily News I totally agree with you. For example, Manhattan is an Island in New York city and only few people can afford to live there, but it provides a lot jobs and opportunities - skilled and unskilled for thousands of people that commutes daily to this USA financial hub. Not being able to live somewhere does not mean you cannot benefit in other ways.

@NFT Daily News Could is your word but truth speaks for its self. 20 years you can ask its people if they are happy and live abundant lives, this recap Steven did is great. Speaks for its self. facts speak for themselves. You can check his video from Cross River State as well. Engagement with people and communities brings happiness and caring and supports life. Many blessings of love 🙏

B

Na church go kpai una. Too much uselessness for that kontri.

Sir, you have a great dream but truth is that there is no place on earth where the average citizens can afford million dollars homes..Even in US, UK, Canada, China, UAE and others..Even in some of these countries, the citizens only option is to get mortgage and mortgage their lives for life..So the question of average Nigerians owning homes in Eko Atlantic May never happen..Average Nigerian should start at Lekki, Ikorodu, Surulere, Ikeja etc..Whether we like it or not, this is how the world works

@@proudlyafrican6240 I'm telling you

Anywhere in the world you live according to your standard, it's never a controversial project, every infrastructures are on ground ,if you have money go and buy your land and start your project

@@proudlyafrican6240 then why building millions dollars home when this is not what the country needs ? their are thousands of empty flats all around lekki, Ikoyi, Victoria Island ... none can afford them.

Exactly

Totally agree with you

@@togorealestate228 Thank You!

@@StevenNdukwu That is just the basic true bro!

It makes you ask who exactly are they building it for.

Truer words have never been said!!

E don talk am ❤️

Well said, the dubai they visit do they know where the poorer people stay?

@@kokojones464 I can relate. 😂 Am more interested in weather this will make 9ja leave being third world, peradventure the new city starts functioning fully 👀 Maybe some insights into life expectancy in third world and which generation will partake in the 400k jobs assuming people got used to the fact that yes, some things ain’t meant to be cause of xyz. David in the video will soon be frustrated. There are several others like him in the past including several others forgotten male/female youths. Irritating, please peace, cheers

I hate to be a pessimist but judging by Nigeria's history you'll be waiting several lifetimes for that to happen. Even though its privately funded I don't think there's enough to draw enough potential [global] investors to that area...not yet.

With the high level of insecurity and unbelievable level of corruption, tourism will never grow in this country

@@BaybieK Then, prolly Steve or David should add that to next update or a revised version. I won’t be surprised overtime, the locals will dominate forcefully and a serious I don’t even know (riot, war, massacre) will happen and it’ll become a thing of the past just like other projects. I think it should be massacre cause the military around that axis 😁

@G done enough to have a say on this regards. Thanks.

Yeah, I am with you on that, Joshua! Steven is a perfectionist, and he is a master story teller, too!

It is called the Nigerian dream.

@@nobs997 more like the "Nigerian" nightmare !...

@@user-144k 9 lifetimes to afford a piece of artificial land sounds more like a pipe dream to me.

Sir, Lagos needs a skyscraper district, the idea is sound but the execution is not. Everything Nigeria does is backwards, you build a new city and that first thing any serious country does is to attract businesses FIRST and not residential towers. There's all kinds of firms that Eko Atlantic can attract to set up headquarters and offices there. Next is to make it a tourist destination (health, leisure, and educational), after which you go after a targeted market (expatriates and returnee Nigerians). If done correctly the place will spring to life. Building expensive apartments just reeks of money laundering.

@@obinnaezealah2465 Where in the third world had your idea happened?