In some Nigeria cities like Lagos, Warri and Port Harcourt, some of the most prized waterfront real estate is disappearing into the ocean, despite deep-pocketed homeowners spending enormous sums to put off the pain of losing their homes.
Consequently, affluent home buyers in search of coastal property gravitated to the ocean are decreasing. As most of the cherished waterfronts in most Nigeria cities are disappearing to the chagrin of many. He complained about the arbitrary allocation of residents’ waterfronts to unscrupulous individuals for sand filling as one of the off-plan moves by the state that scares investors.
But renowned property consultant, and past president of Nigerian Institution of Estate Surveyors and Valuers . Mr Joe Idudu blamed security challenges and natural degradation for the disappearance of waterfronts in the country. “You will remember that some of the attacks that occurred to our vice president, because they lived in the waterfronts in ikoyi, occurred through the water.
The twain issues of natural degradation and erosion arising from waters in coast lines, especially along the lekki axis, where the coconut trees have been up rooted have impacted negatively on water fronts and government must act very fast as they did along Ahmadu Bello way, Victoria Isand to save investments on that axis.
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