Total Expenditure on a 3-Bedroom Flat Construction in Ibafo
Half Plot of Land โ โฆ8,000,000
Roofing Materials & Wood โ โฆ6,000,000
Lintels โ โฆ5,000,000
Windows โ โฆ2,000,000
Turkish Door (Mushin) โ โฆ600,000
3,500 Blocks โ โฆ350,000
Labour โ โฆ600,000
Plumbing โ โฆ3,000,000
Borehole โ โฆ1,000,000
Omo Onile at Foundation Level โ โฆ1,000,000
Omo Onile at Roofing Level โ โฆ1,500,000
Wiring โ โฆ3,000,000
Tiling โ โฆ3,000,000
Total Expenditure: โฆ35,050,000
A three bedroom flat in Mafoluku Oshodi costs 7 million in annual rent.
Ibafo to Oshodi is a 20 mins drive, while โฆ7 million annual rent for five years is โฆ35 million.