BADDOO KILLING IN IKORODU IS KILLING REAL ESTATE MARKET!

Ikorodu town, one of the most active real estate locations in Lagos have been plagued in recent times by a scourge of what is suspected to be ritual killings known only as BADDOO. While residents of Ikorodu can now hardly sleep with their two eyes closed, the real estate market of a once boisterous locality is suffering.

Currently gruesome killings seem to have become virtually a regular affair, and it is not uncommon to hear people ascribe every murder incident to a group known as ‘Baddoo boys’. In Ikorodu at the moment, the fear of the cultists is the beginning of wisdom. Presently in Ikorodu and its environs, ritual killers are simply believed to be members of the Baddoo boys, especially when the signature killing is cruel, like beheading, or crushing of heads with stones that have become commonplace in the area.

Baddoo boys have been terrorising residents of Ikorodu for some months now, and it appears the slow response from security agents has resulted in self-help approach by the people. This self-help however, has led to the employment of jungle justice by the fear-stricken members of the community. This, analysts say begs the question of government obligation to its citizens, especially those who reside in Ikorodu area of Lagos State.

The last killing was a family of five. It was reported that the Baddoo boys came around midnight, killed the man, raped and killed his pregnant wife, his 16 and five years old daughters and they also did not spare the man’s nine-year-old son. These killings have been going on for about a year now and government’s apparent slow action to act has got some Lagosians talking about the value those in authority place on human lives.

All over the world it is a known fact that real estate business only survives and blossoms in an atmosphere of peace and tranquility. No real estate business cannot flourish in a situation of chaos, killings and lack of security of lives and properties. Ikorodu is not an exception and since the incidents of the Baddoo killings have started, the property market in Ikorodu have started to see a dip.

Ayo Banjoko the MD/CEO of Banjol Homes and Properties Limited the developers of Blessed Gardens Estate in Imota Ikorodu says the year 2017 has been the worst in the last ten years for real estate developers in Ikorodu. “It been extremely bad for us developers in Ikorodu this year. Who will want to come and buy anything here now? Whenever you mention Ikorodu to investors now the first thing they tell you is Baddoo. It is really unfortunate and sad that the government didn’t do enough to nip the scourge in the bud before it got to this stage”, Banjoko lamented.

Akin Olamuyiwa an Estate Surveyor and Valuer who is also resident in Ikorodu says it may not be totally wrong to say the property market in Ikorodu is currently at a standstill. “My firm this year has not been able to close any major transaction and the reason is not unconnected with the Baddo ritual killings. The pace of migration to Ikorodu from other parts of Lagos have reduced drastically unlike what it used to be. From our findings, people now prefer to buy properties in other more secured locations around Lagos like most parts of the Lagos-Ibadan expressway like Mowe-Ibafo, Magboro and Arepo. People have also started to shift focus to areas like Badagry, Ayobo, Agbara-Igbesa, Sango-Ota down to even parts of Ifo. Let me just put it this way, Ikorodu property market is currently at its lowest ebb in the last ten years”. Olamuyiwa added that outskirt locations of Ikorodu like Ibeshe, Ogijo, Imota and Agbowa have been the most hit by the Badoo scourge. “These were fast developing real estate locations before Badoo issue started and now, but now real estate activities there have come to a grand halt. The resort to self-help by residents is not also helping matters. A client once told me he is afraid of coming to Ikorodu since nobody will be able to identify him if he was falsely accused of being a baddoo member”, he says.

An Estate Agent, Sakiru Balogun says renting out vacant properties have become a herculean task. “Some are even relocating and abandoning their apartments. Supply for rental apartments have increased and demand has dropped drastically. Some landlords have even started to reduce the price of their properties. People are no longer renting. It is an extremely sad situation”, Balogun

Culled from -excellentpropertymag