The Marina area of Lagos state is dense, with its wide high-rise buildings and narrow roads. Parking is a hassle – either there’s no parking space, or what you find is too expensive. On Sundays, worshippers flock to the quaint Cathedral Church of Christ, while on workdays, yellow commercial buses assemble in their legions, and workers hurtle to office buildings dressed in suits and some in tapered jeans. A woman sells puff-puff by the roadside. On another street, children run about and mothers warn of incoming vehicles; all portraying the history, chaos and commerciality of Lagos. But the numerous abandoned and low-occupancy structures tell a different story: a tale of high costs, negligence and institutional nonchalance in the heart of Lagos’ Central Business District.

African Continental Bank Building, founded by Nnamdi Azikiwe is now a shell of its former self.

The African Continental Bank (ACB) building stands tall on Balogun Street. The Azikiwe-founded establishment was abandoned after its merger to form the now-defunct Spring Bank. Its windows are cracked and offices that once roomed workers, computers and customers, now serve as illegal warehouses for local tradesmen.

Savannah Bank House

Savannah Bank House is an even bigger structure on Broad Street. It has over eleven floors and was Savannah Bank’s headquarters before the Central Bank of Nigeria (CBN) withdrew its licence in February 2002. The building was sealed up for sale by a court order in June of 2017 but had not been reoccupied at the time of this publication. Other unoccupied and seemingly abandoned buildings include the LASACO Assurance building, Financial Trust House, Nicon House, Conoil House, Energy Global Tower, Afribank Plaza, UAC building, Unity Trust, Nigerian Post Office and so on.

NICON Corporation building.

Proprietors of said structures are unable or yet to sell or rent them out, leading to prolonged abandonment and dilapidation. Marina is expensive enough; the average letting price for an office space is 30,000 Naira per square metre, per annum. Renovation and maintenance inevitably raise costs. “I think the property manager is at fault. The rents are too high and lifts are not working. They didn’t maintain it well, they didn’t manage it well at all,” said Tayo, a nearby trader, about the unoccupied Conoil House on Marina road.

Waheed sells batteries and car audio accessories just off Bamgbose Street. He reckons the buildings are empty because of unemployment. “It is because of our problems in this country, there is no work, and where there is work, there is no salary. Before long, the employer sacks everybody because he cannot afford to pay them,” he said. “Almost everywhere in this Broad Street is empty. God will help us,” he added.

Could the government force the hands of the property owners? Perhaps compel them to sell or let? They have tried in vain. The Lagos State Ministry of Physical Planning and Urban Development and the Lagos State Building Control Agency (LASBCA) issued a ninety-day notice to redress the issue of abandoned structures in the state. It ordered the restoration of “distressed” properties to “make them fit for habitation.” The notice also said that refusal to obey would lead to prosecution.

The empty LASACO Building (in the centre of the picture) has been abandoned for three decades, while small businesses surrounding it have thrived.

Yet, the Lagos State Assurance Company (LASACO) building between Tinubu and Kakawa Street is in a state of disrepair. Local traders claim that the building, which has been uncompleted and unoccupied for over thirty years, is a constant reminder of the government’s ineptitude. Unnamed senior LASACO officials, in a report by the Guardian, stated that the building was not abandoned, that they were in the process of securing the best possible deal. The property is, however, yet to be completed or occupied.

Nevertheless, Marina is overpopulated, hosts multiple firms, and remains a premier destination for local traders. It is the financial hub of Lagos. The ominous and heavily guarded former CBN headquarters sits in the centre of the chaos. First Bank and Union Bank are within a stone’s throw, UBA headquarters and Sterling Bank Tower are less than 1,000 meters away. Stutern cofounder, Kehinde Ayanleye, whose office is in Elephant House said: “While Yaba is the hypothetical Silicon Valley of Nigeria, Lagos Island (Marina) is the Wall Street.”

Another reason for Marina’s dense population in spite of drawbacks is its centrality. It is part mainland, part island. Some firms move from Lekki to places like Marina to favour staffers that commute from far distances. This is true for Jobberman co-founder, Opeyemi Awoyemi. “We have quite a lot of churn with our staff. Most of them live on the mainland and they had to seat in traffic between the mainland and Lekki where our office was. We felt that we needed to move, even for some of our clients” he said.

Signal Alliance’s founder, Collins Onuegbu shares a similar sentiment. He said: “We moved to Marina from Victoria Island about 5 years ago. At the time we moved, our core consideration was to find a place that served our corporate needs and at the same time was accessible to most of our staff that lived on the mainland. We had considered Lekki and felt that it would not serve our staff well. Marina provided easy access especially for those that did not have private transportation.”

Chukwuma Rejoice is a digital marketer the CEO/Founder Toast App. To him, working in Marina fosters frequent association with a young professional community. “It is not as expensive as people think because clients pay good and appreciate my service,” he said.

Jubril Ajifolawe, Head of Recruitment/Talent Management at Wema Bank Marina said that by its positioning in Marina, the main economic hub of the country, Wema Bank is able to leverage on economic activities of surrounding markets. “Influx of both human and vehicular movement has translated to more business activities for the banks.”

Yet Marina’s centrality works against it. The resulting rowdiness and all-pervasive chaos interrupt the flow of traffic and perpetuate congestion. In all its commercial splendour, the area is untidy. When it rains, muddy waters takeover. Litter travels from street to street and many pavements out in public are turned to refuse dumping grounds. Perhaps the FG’s directive to expel street traders and roadside mechanics may help curb the volume.

Onuegbu noted that the problem of low occupancy is also noticeable in Lekki and Victoria Island. Adding that it is a reflection of challenges facing the Nigerian economy. “Marina’s case is made worse by the restructuring of the financial industry in Nigeria over the past decade as most companies that were here before were mostly affiliated to the financial industry,” he added.

Congestion makes parking difficult. Although the bigger towers like Union Bank and First Bank HQ provide in-house parking, the sheer number of workers within and outside these companies cause an overflow to the main roads. The standard fee for roadside parking is 500 Naira, meaning that the average worker pays 10,000 Naira per month on parking.

Furthermore, there are reports of criminal activity in the area.  Special Adviser to the Governor on Central Business District, CBD, Agboola Dabiri, addressed the problem in May 2017. At a ministerial press conference in Alausa, he said that many of the abandoned buildings have been turned into “hideout for criminals.” Adding that the buildings act as dark spots and are occupied by over 100 miscreants and that the state government was working towards immediate rectification. With a reputation for crime and robbery, perhaps would-be buyers and renters are cautious.

But it is not all gloom at the harbour. The 52-year old 21-storey Unity House building may yet see light again. Its agent, Messrs Wemabond has signed an MoU with Springfield Development Company Limited to redevelop the tower. The project will cost approximately 3 billion Naira and refurbishment will last three years. Perhaps it is time for proprietors to refurbish the facilities and drastically reduce cost lest it remains a barrier to entry. Not that there is a great exodus from Marina. No. Rather, despite the number of unoccupied properties, the entry to Marina has subdued.

Elsewhere on Ventures

Triangle arrow