Stakeholders in the real estate sector have condemned the demolition of about 50 buildings in Surulere community, Amikanle, near the Command area in Alimosho Local Government Area, Lagos State, by suspected land grabbers popularly known as Omo Onile.

the Residents said the suspected thugs invaded the community on January 27, 2026, demanding between ₦15 million and ₦25 million from homeowners.

According to residents, houses belonging to those who failed to pay the demanded sums were subsequently demolished.

The founder and Chief Executive Officer of Oikus, Israel Ihaza, condemned the incident and called for improved transparency and proper documentation in the real estate sector.

“It’s sad how some individuals continue to bastardise government authority and existing regulatory structures to carry out illegal activities. Incidents like this are deeply troubling and painful for everyone who believes in the rule of law and the future of real estate in Lagos,” Ihaza said.

He noted that the lack of transparency in property ownership and weak enforcement systems often create opportunities for abuse by criminal elements.

According to him, the government is working toward strengthening regulatory systems through the digitisation of property records and improved oversight to address long-standing challenges in the sector.

Ihaza added that demolitions often destroy more than physical structures, as they represent people’s life savings, retirement plans, and financial stability.

“The broader implication is even more concerning. It creates fear among local investors and diaspora Nigerians looking to return capital to their home. Fear slows economic growth, which is why enforcement and visible consequences matter,” he said.

Also speaking, the legal counsel to the Project Affected Persons within the 150-metre setback of the Lagos-Calabar Coastal Highway, Sola Enitan, said demolition had increasingly become a tool for extortion in Lagos State.

He urged affected homeowners to pursue legal action to defend their rights.

Enitan also highlighted the economic impact of such demolitions, estimating that 52 buildings valued at about ₦50 million each could amount to losses of approximately ₦2.6 billion, warning that the destruction of houses discourages investment and reduces available housing for residents.