I HAVE A HOUSE IN BANANA ISLAND – YAAY! -LINDA IKEJI

It is probably no longer news that our very own Linda Ikeji has purchased a six hundred (600) million naira mansion in Banana Island, Ikoyi, Lagos. If that is news to you, where have you been?

Ever since she made the announcement, tongues have been wagging, people have been commenting and basically everyone has an opinion about it. And of course, so do I.

Now here’s what I think:

First of all let me commend Linda. This is such a huge milestone and achievement and I am really proud of her. As a woman especially in the kind of society we live in to be successful is a big deal. And knowing her story and where she’s coming from, she definitely has accomplished a lot.

All I have just said above comes from the depth of my heart BUT….


Really Linda? 600 million naira for one big unfurnished house? Really?

Not only do I think it was an absolutely wrong choice of investment, I think that the fact that Linda got turned down and suffered so much growing up has eventually clouded her judgment as she feels the need to prove to people that she has not only arrived but is living the big life.

The only reason why I personally would spend 600 million naira on a house is if in fact I have over five billion naira left over in my bank account after buying the house. Even at that, it is a very risky investment and I’ll tell you why.

First of all, it is no surprise that Linda made the big bucks from Jonathan’s administration especially during the elections. It was stated in an article in informationng.com that this year’s election campaign was the most expensive Nigeria has ever seen costing over THREE (3) BILLION NAIRA. Read the article here.

We all know that a fair share of that money went to Linda Ikeji as she put up NUMEROUS campaign ads for these politicians. So she definitely cashed in during the election.

Now if I were Linda, even if I had 600 million naira to invest in a property, rather than buy ONE BIG HOUSE for six hundred million, I would rather buy SEVERAL houses at a hundred million naira each and put them all out on rent.

A hundred million naira is a lot of money and can get you a luxurious house as well and putting that on rent will fetch you about eight ( million naira yearly or more multiplied by 5 or 6 comes up to about 48 million naira income on rent alone annually.

I think Linda forgot a very important point before purchasing this house which is that the fact that the Jonathan administration favored her doesn’t necessarily mean that the Buhari administration would.

As a matter of fact, this present administration most likely WOULD NOT favor her at all because we all know Buhari is against misappropriation of funds and no “government inclined person” would want to get on his bad side by sponsoring over priced adverts or spending lavishly.

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