Banana Island is an ultra exclusive, man made island located in Ikoyi, under the EtiOsa Local Government Area (LGA) of Lagos State. Designed in the early 1990s by the Chagoury Group as part of a visionary “Millionaire’s Paradise” project, it was built through extensive land reclamation to create a secure, serene, and high value residential zone.

Over the years, Banana Island has become one of the most expensive neighborhoods in Africa, known for its clean, well planned streets, top tier infrastructure, private security, and luxury waterfront homes.

It attracts Nigeria’s elite, celebrities, global business executives, and multinational companies. A unique fact about Banana Island is that its road layout was originally designed in a banana like curved shape, which ultimately inspired its name.

Facts about Banana Island

Terry Waya’s Role in Banana Island

• According to Terry Waya, he played a key role in the early stages of Banana Island. He says he first came across the project plans while visiting a high ranking government official and immediately expressed interest. After being allowed to participate, he claims he connected the government’s idea with a development company helping set the foundation for what later became the Banana Island we know today.

One of the most expensive places to live in Africa

• Banana Island is often compared to places like Dubai’s Palm Jumeirah and London’s Knightsbridge because of its luxury homes and celebrity residents.

It’s shaped like a banana.

• The island’s curved layout isn’t a coincidence; the masterplan was intentionally designed to resemble a banana when viewed from above.

Celebrities love using it for bragging rights.

• From music videos to skit makers and influencers, Banana Island is a popular backdrop for content that screams soft life.

Development of Banana Island

• Banana Island was developed in 1978 as a man made luxury community designed for high end living. Built by the Banana Island Development Company, it covers about 1.6 million square meters and features modern homes, premium facilities, and clean, well planned streets.

Leisure and Shopping

Banana Island is calm, exclusive, and mostly residential, but it still offers residents access to premium leisure and shopping options. Within the island, essentials like Oladimeji Shonubi Supermarket cater to daily needs, while the Banana Island Club provides a luxurious retreat with swimming pools, tennis courts, restaurants, and lounges for social and recreational activities.

Just a few minutes away in Ikoyi and Victoria Island, residents can enjoy The Palms Mall, Circle Mall, luxury boutiques, cafés, fine dining restaurants, spas, and lounges, combining privacy with world-class lifestyle convenience.

5 Schools within Banana Island

• Corona School, Ikoyi – A leading nursery and primary school combining Nigerian and British curricula, known for strong academics and holistic child development.
• Lagos Preparatory & Secondary School (LPSS) – Offers UK National Curriculum for both primary and secondary students, focusing on academic excellence and extracurricular activities.

• Greensprings School, Ikoyi Campus – Provides Montessori, International Primary Curriculum, and British curriculum programs for preschool and elementary students, emphasizing creativity and critical thinking.

• Ikoyi Nursery School (INS) – One of the oldest nursery schools in Lagos, offering early years education with a focus on foundational learning and character development.

• Holy Child College, Ikoyi – A prestigious all girls secondary school providing high quality Nigerian curriculum education, strong moral values, and leadership training.

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Popular Estates within Banana Island

Bella Vista Apartments showcases modern design and quality craftsmanship, offering spacious apartments with large balconies and top-notch facilities for a luxurious and peaceful living experience.

Happy Haven Estate is an upscale residential community featuring villas, townhouses, and apartments with modern finishes. Residents enjoy amenities like swimming pools, gyms, landscaped gardens, and 24/7 security in a serene environment.

The Address Homes is a prestigious estate with elegant mansions and high-end apartments. It provides luxury living with amenities such as swimming pools, gyms, concierge services, landscaped gardens, and strong security for resident privacy.

Apartments and Properties within Banana Island

There are 987 available flats, houses, land and commercial properties for rent in Banana Island Lagos Nigeria. These properties are listed by estate agents who can be contacted through the contact details provided for each listing. The list can be filtered by price and furnishing.

There are 837 available flats, houses, land and commercial properties for sale in Banana Island Lagos Nigeria. These properties are listed by estate agents who can be contacted through the contact details provided for each listing. The list can be filtered by price and furnishing.