Cost of building a house in Ibafo, Ogun (2026)

Construction costs for Ibafo using current material prices (cement ₦12,800/bag, iron rods ₦800,000/tonne) and local labour rates.

5-bedroom duplex + BQ, standard finish

₦102,383,262

280 m² · ₦365,655/m² · includes fence, gate & contingency

Building costs in Ibafo by house type

House type	Basic	Standard	Luxury
3-bedroom bungalow	₦39.6M	₦51.4M	₦85.3M
4-bedroom bungalow + BQ	₦60.9M	₦74.5M	₦119.9M
4-bedroom duplex + BQ	₦76.3M	₦93.5M	₦146.8M
5-bedroom duplex + BQ	₦83.1M	₦102.4M	₦160.9M
6-bedroom duplex + BQ	₦89.7M	₦111.1M	₦174.9M
block of 6 two-bedroom flats	₦132.2M	₦187.4M	₦342.5M

Developing in Ibafo?

Model your estate — land purchase or JV with the landowner — with profit, IRR and a bank-ready report.

How much does it cost to build a 5-bedroom duplex in Ibafo?

About ₦102.4M for a standard-finish 5-bedroom duplex with BQ (280 m²), including fence, gate and contingency.

How much does a 3-bedroom bungalow cost to build in Ibafo?

About ₦51.4M with standard finishing.

What is the building cost per square metre in Ibafo?

Around ₦365,655 per m² for a standard 5-bedroom duplex.

What do new houses sell for in Ibafo?

About ₦420,000 per m², with gross rental yields around 4.1%.