Victoria Island (VI) is best-fit for banking, oil and gas (oando, others), professional services, multinational hqs.

• Tier: trophy.
• Tenant fit: Banking, oil and gas (Oando, others), professional services, multinational HQs.
• Average rent ₦100,000/sqm/mo · ≈ $74.7 PSF/yr USD.

TL;DR

• Tier: trophy.
• Tenant fit: Banking, oil and gas (Oando, others), professional services, multinational HQs.
• Average rent ₦100,000/sqm/mo · ≈ $74.7 PSF/yr USD.

Best fit

Banking, oil and gas (Oando, others), professional services, multinational HQs.

Less good fit

Cost-sensitive operations and back-office functions are usually a poor fit — the rent premium is real and is paid for brand and address.

Key facts

Frequently asked questions

Is Victoria Island (VI) the right fit for my office?

Banking, oil and gas (Oando, others), professional services, multinational HQs. If your profile aligns, yes. If your priority is cost over address, consider value-tier submarkets first.

Related

• Victoria Island (VI) — submarket overview
• Lagos — full city profile
• Lagos submarkets — all
• Victoria Island (VI) — Rents
• Victoria Island (VI) — Tenants
• Victoria Island (VI) — Transit
• Victoria Island (VI) — Amenity

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

• CBRE Marketview reports — CBRE
• JLL Office Insight — JLL
• Cushman & Wakefield Marketbeat — Cushman & Wakefield
• Savills World Research — Savills
• Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction

Related topics

• Class A Lease Negotiation — How to negotiate a Class A office lease — the playbook from LOI to signed deal.
• Hybrid Workplace Strategy — How to size, structure, and lease a Class A office for a hybrid workforce.
• ESG / LEED for Tenants — How tenants evaluate, negotiate, and report on ESG performance in a Class A office lease.
• Cross-border Expansion — How to run a coordinated Class A office search across multiple geographies.
• Fit-out Capex — How to budget, sequence, and govern Class A office fit-out">fit-out capex.
• Lease vs Flex — When premium flex (coworking, managed office) beats a conventional Class A lease — and vice versa.