A funny middle aged man once said “Once a man’s account confirms that he is wealthy, the appetite naturally hungers for bananas. Thus the need to move to the island where it is abundant”. The aforesaid metaphorically depicts ‘The Banana Island and The Class Attached’.
To start with, the Banana Island today in Nigeria is regarded as one of the most expensive luxurious areas to reside, and the class that comes with alone is quite satisfying because it is considered a status symbol meant for the movers and shakers of the society, and comparable to living in any major European or first world country.
Basically, Banana Island slightly curved in shape like a banana is an artificial island off the foreshore of Ikoyi, Lagos. The Island is a planned, mixed development with dedicated areas for residential, commercial and recreational activities. Also, planning permissions are not given to residential constructions over three storeys high.
Interestingly, the sumptuous island is an entirely different world from other parts of the country. It’s a gated community, known for its wealth and splendour. Its inhabitants enjoy world-class utilities including an underground water supply network and electrical systems, 24 hours electricity supply, good road layout, extremely tight security, a central sewage system and treatment plant as well as street lighting and satellite telecommunications. That is why, it is widely occupied by the high and mighty such as well-paid expatriate employees, multinational corporations, government officials, wealthy businessmen, to mention but a few.
Furthermore, Banana Island is a major contributor to the various surveys that says Lagos is one of the most expensive cities in the world and this is evident in the fact that landed property is even more expensive here than in some other parts of the developed world such as the United States,United Kingdom ,Europe and South Africa. It is not only the luxury flats that attract such staggering prices, even virgin lands being offered for sale by developers are very expensive.
Conclusively, it is for the wealthy minds with big pockets who have more than enough money to afford the luxury of life it offers.