After several years of abandonment, fresh facts emerged on Wednesday that Ilubirin, a massive new public-private waterfront development on Lagos Island, will be completed in December 2026.
The Lagos State commissioner for Housing, Moruf Akinderu–Fatai, disclosed this to journalists after inspecting the expansive development on 27 hectares of land carefully designed for mixed-use.
Akinderu-Fatai said, “We are here for you to see what is happening here. When you pass through this from the estuary, it appears as if nothing is going on. And I am sure you agree that nothing is happening here. And we are here to extract from them a commitment to deliver this project, at least the first part of it, which is almost 200 units by 2026.
“The challenge has been the drainage system, which has been resolved. The challenge has been the drainage system, which has been resolved. The issue of entrance. That has also almost been resolved. Also, when you listen to the developers, you see approval for a bridge to move into this particular space. And this place is going to be misused. We are talking about a hotel even here. Walk and live. Walk, play and live. So it is a project that Mr. Governor is passionate about. And we are here to push this project forward. To reach them and to give them support. So that we can push this and make the vision a reality.”
Fielding questions from journalists, Mr. Adebisi Adebutu, the managing director of First Investment Development Company (FIDC) Limited, the developer of the Ilubirin ‘district’ in a joint venture with Ibile Holdings (representing Lagos State), corroborated the commissioner’s timeline and assured that it would be delivered by the end of 2026.
According to him, the entire 27-hectare site, when fully developed with various densities of 15-story and 20-story buildings, is expected to yield nearly 3,000 dwellings.
Adebutu pointed out that the challenges encountered included extensive sand filling (close to a million cubic meters) because the site was initially below sea level. “This was crucial to provide for a 100-year storm and prevent flooding,” he said.
He explained that FIDC’s strategic decision to localise most of its finishes and manufacturing processes is primarily to mitigate the impact of fluctuating raw material prices triggered by foreign exchange.
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