Awolowo Road, Ikoyi: Street Guide

Awolowo Road is the main commercial spine of South-West Ikoyi, in Eti-Osa Local Government Area of Lagos State. It runs from Falomo roundabout, where Falomo Bridge crosses to Victoria Island, towards the Onikan and Obalende side, where Ikoyi meets Lagos Island. The road is lined with offices, banks, shops, galleries, restaurants and clinics, many in converted houses, and the residential streets behind it hold some of the more accessible flats in Ikoyi. Rents sit in the lower to middle part of the Ikoyi market.

Where Awolowo Road starts and ends

Falomo roundabout is the eastern end. Four routes meet there: Awolowo Road, Alfred Rewane Road (still widely called Kingsway Road), Bourdillon Road and Falomo Bridge to Victoria Island. From the roundabout, Awolowo Road runs west through South-West Ikoyi to the Onikan and Obalende side, which leads on to Lagos Island and the Marina. South-West Ikoyi is the older, denser and more commercial half of Ikoyi, and Awolowo Road is its high street. The quieter, leafier parts of the district, including Old Ikoyi, Parkview, Banana Island and Osborne, are described in the Ikoyi area guide.

It should not be confused with Obafemi Awolowo Way, which is in Ikeja on the mainland.

What is on Awolowo Road

Almost the whole frontage is in business use. There are bank branches, law and consulting firms, airline and travel offices, boutiques, bookshops, art galleries, furniture and interiors showrooms, pharmacies, clinics, restaurants, cafes and small hotels, and the Falomo shopping area is at the roundabout end. Many businesses operate from the large colonial-era and post-independence houses that once made this a residential road; others are in mid-rise office blocks built on redeveloped plots.

The homes are on the streets that run off and parallel to the road, including Keffi Street, Raymond Njoku Street, Norman Williams Street and Ribadu Road. They hold low and mid-rise blocks of flats, serviced apartments, maisonettes and a shrinking number of older detached houses. Some blocks stand on Awolowo Road itself, set back behind a wall.

What property is like, and what it costs

The indicative annual rent for a 2-bedroom luxury apartment on and around Awolowo Road is ₦3,500,000 – ₦8,000,000. For comparison, the indicative figures for the district are:

• Ikoyi 2-bedroom flat: ₦4,500,000 – ₦12,000,000 per annum
• Ikoyi 3-bedroom flat: ₦9,000,000 – ₦20,000,000 per annum
• Detached villas on Bourdillon Road or Banana Island: ₦20,000,000 – ₦80,000,000 or more per annum

That makes the Awolowo Road side the entry point to Ikoyi. It costs less than Old Ikoyi, Bourdillon Road or Banana Island because the area is denser, the buildings are on average older, plots are smaller and the main road is commercial and busy. What you get in exchange is the Ikoyi address, generator-backed buildings with security, and the shortest route in the district to both Victoria Island and Lagos Island. Within the area, new serviced blocks on the quiet back streets sit at the top of the range, and older walk-up flats, or flats that face the road, sit at the bottom. Frontage on the road itself is commercial property and is priced as offices and retail.

To see what is available, browse flats for rent in Ikoyi or all properties in Ikoyi.

Getting around from Awolowo Road

The road is one of the main routes between Lagos Island and Victoria Island, so it carries through traffic as well as its own, and Falomo roundabout is a well-known bottleneck at peak hours. Outside those hours the location is hard to beat: Victoria Island is across Falomo Bridge, Lagos Island and the Marina are beyond the Onikan end, and the Third Mainland Bridge is reached through Osborne or Obalende. On-street parking is limited, which matters if you are taking an office or shop here.

Who Awolowo Road suits

• Professionals who work in Victoria Island, Ikoyi or Lagos Island and want a short trip to work
• Tenants who want an Ikoyi address without paying Old Ikoyi or Banana Island prices
• Law firms, consultancies, clinics, galleries, restaurants and retailers that want a recognised Ikoyi business address
• Investors buying flats to let to corporate tenants

If you are weighing Ikoyi against its neighbours, read Ikoyi vs Victoria Island and Ikoyi vs Lekki. For the top of the market see Banana Island.

What to check before you rent or buy

• Road noise and access: visit at rush hour; check how easy it is to turn in and out of the compound.
• Parking: confirm allocated spaces for you and your visitors.
• Service charge: ask for the written breakdown and the generator arrangement.
• Drainage: some cross-streets collect water after heavy rain; look at the street and the car park level.
• Title and use, for a purchase: much of Ikoyi is federal land. Have a solicitor verify the title and the approved use of the plot before you pay.

Own a flat or office here? List your property on Cabans, or read how to list a house for sale in Ikoyi.

Frequently asked questions

Where is Awolowo Road in Ikoyi?

Awolowo Road is in South-West Ikoyi, in Eti-Osa Local Government Area of Lagos State. It runs from Falomo roundabout, where Falomo Bridge crosses to Victoria Island, towards the Onikan and Obalende side, where Ikoyi meets Lagos Island.

Which local government is Awolowo Road under?

Awolowo Road is in Ikoyi, which is part of Eti-Osa Local Government Area of Lagos State.

Is Awolowo Road residential or commercial?

The road itself is mainly commercial: offices, bank branches, shops, galleries, restaurants, clinics and hotels, many of them in converted houses. The streets behind it, such as Keffi Street, Raymond Njoku Street, Norman Williams Street and Ribadu Road, are where most of the homes are.

How much is rent on Awolowo Road, Ikoyi?

The indicative annual rent for a 2-bedroom luxury apartment on and around Awolowo Road is ₦3,500,000–₦8,000,000. That is the lower to middle part of the Ikoyi market, where 2-bedroom flats run up to about ₦12,000,000 a year and houses on Bourdillon Road or Banana Island cost far more.

Is Awolowo Road the same as Obafemi Awolowo Way?

No. Awolowo Road is in Ikoyi on the island side of Lagos. Obafemi Awolowo Way is a different road in Ikeja on the mainland. Both are named after Chief Obafemi Awolowo, and adverts occasionally confuse them, so check the district.

Is Awolowo Road on the island or the mainland?

Awolowo Road is on the island side of Lagos. Ikoyi is joined to Lagos Island, and Falomo Bridge at one end of the road leads to Victoria Island.

Browse the area on Cabans: Awolowo Road area page, Ikoyi area page. Related guides: Ikoyi area guide, Is Ikoyi mainland or island?, Adeola Odeku Street, Victoria Island.