How should I structure a NGN 228m renovation budget for an older Lagos multifamily?

NGN 228,000,000 is the working renovation allowance. My specific concern is how quickly concealed defects in an older Lagos building could consume it.

The property is a 110 m² small multifamily priced at NGN 1,263,000,000. The planned work covers kitchens, bathrooms, floors, decoration, checks to the electrical system and limited energy improvements; the footprint is not being enlarged. Finish choices can be reduced later, but plumbing access, damp, unsafe wiring or structural repairs are harder to reverse once work begins. Before fixing the programme, what investigations would you commission, what exclusions should contractors price explicitly, and how would you hold the contingency apart from the main contract sum?

I would avoid setting one contingency figure until the contractor separates known work, provisional allowances and exclusions. Ask what happens if wiring needs more than checks, whether plumbing routes are accessible without removing finishes, how moisture will be investigated, and which structural repairs are excluded. Also request lead times for specified materials and identify any work dependent on permit timing. Keep the contingency outside the contractor’s base price so it is not quietly treated as available budget.

That separation helps, but paperwork will not resolve the biggest unknown in an older building. Can you arrange limited opening-up in the wet areas and around the electrical routes before final pricing? A small investigative phase may reveal more than several contractor questionnaires.

Also, will the units be vacant during the work? If not, sequencing and temporary access could affect the budget substantially. I’d price investigation first, then revise the contingency rather than choosing a percentage now.