Nigeria’s funeral industry is witnessing rapid growth as rising demand for burial vaults and private cemeteries pushes investors to acquire large tracts of land across major cities. Business Hallmark reports that despite unreliable official death statistics, escalating burial costs and the proliferation of private cemeteries point to a fast-expanding market driven by urbanisation and changing burial preferences.
With public cemeteries largely filled and poorly maintained, private operators now dominate the sector, offering services ranging from burial plots and family vaults to post-burial maintenance and security. Many Nigerians, particularly urban residents and those in the diaspora, increasingly prefer private cemeteries due to concerns over grave robbery, land disputes, and deteriorating public burial grounds.
Industry sources say burial plots in high-end Lagos cemeteries now cost between N30 million and N100 million, while more affordable options in suburbs range from N500,000 to N2.5 million. Funeral home operators also earn significantly from related services such as grave preparation, coffins, hearse rentals, and burial ceremonies, describing the sector as one of Nigeria’s most lucrative but underexplored businesses.