Wealth is often reflected in a person's residence. Bigger and more expensive homes typically signify greater affluence.

In Nigeria, like many countries, individuals with similar income levels tend to reside in the same neighbourhoods. This explains why many of the most expensive houses are concentrated on Banana Island.

Oil magnate and philanthropist Folorunsho Alakija's house in Ikoyi is a true marvel. Business Day reports it boasts 400 rooms and a staggering $700 million construction cost. German construction giant Julius Berger built the home between 2014 and 2018.

This luxurious property features an artificial pool, light wells in place of windows due to its vast grounds and numerous wings, offices for Alakija's businesses, and a whopping 200 parking spaces. It ranks among the most expensive homes in Africa.

Nigerian oil tycoon Mike Adenuga's Banana Island residence currently holds the title of the most expensive property in Nigeria, valued at a staggering ₦80 billion Naira. Adenuga, Africa's richest black person and owner of Globacom, has a net worth of $7 billion. The mansion reportedly cost over N80 billion to build and is now valued at over N100 billion.

Acquired in 2016, Linda Ikeji's Banana Island mansion is known for its luxury. Property Pro ranks it among the top three most expensive houses on the island. This massive property painted white is very reminiscent of the Americans's white house.