Media personality Frank Edoho has criticised the rising cost of properties in Lagos, describing the state’s real estate market as “armed robbery” while questioning who can genuinely afford the multi-million-naira homes being sold.
While appearing in a recent appearance on The KK Show, Edoho compared the prices of luxury homes in Lagos with properties abroad, arguing that they are difficult to justify given the country’s economic realities.
“Lagos real estate prices, the real estate industry, I think it’s armed robbery,” he said.
Highlighting the disparity, Edoho referenced Hollywood actor Leonardo DiCaprio, claiming the actor owns an island worth about $1.7 million, while some homes in Lagos are priced almost as high.
“Leonardo DiCaprio owns an island. The cost of the whole island is $1.7 million. There is a house in Osapa—they call it a mansion—that is $1.5 million. Osapa that has no drainage. What are we talking about? It’s armed robbery,” he said.
