Ikoyi is the most affluent neighborhood of Lagos, Nigeria, located on Lagos Island

Lagos Island

Lagos Island is the principal and central local government area of the Metropolitan Lagos in Nigeria. It is part of the Lagos Division. As of the preliminary 2006 Nigerian census, the LGA had a population of 209,437 in an area of 8.7 km²...

. It lies to the northeast of Obalende

Obalende

Obalende is a neighborhood of Lagos, Nigeria, located on Lagos Island.It contains the Holy Child College Obalende, St. Gregory's College and the Jinadu Anglican School....

 and encompasses the eastern half of Lagos Island

Lagos Island

Lagos Island is the principal and central local government area of the Metropolitan Lagos in Nigeria. It is part of the Lagos Division. As of the preliminary 2006 Nigerian census, the LGA had a population of 209,437 in an area of 8.7 km²...

 and lies at the edge of the Lagos Lagoon

Lagos Lagoon

Lagos Lagoon is a lagoon sharing its name with the city of Lagos, Nigeria, the second largest city in Africa, which lies on its south-western side...

. Popular with the upper class residents of Nigerian high society, Ikoyi is one of the wealthier communities within the Eti-Osa

Eti-Osa

Eti-Osa is a Local Government Area in the Lagos Division, of Lagos State, Nigeria. Within Eti-Osa are several important areas of Lagos, including Victoria Island, Lekki, and Ikoyi...

 Local Government Area.

The area that makes up Ikoyi was originally part of Lagos Island until it was separated from Lagos Island

Lagos Island

Lagos Island is the principal and central local government area of the Metropolitan Lagos in Nigeria. It is part of the Lagos Division. As of the preliminary 2006 Nigerian census, the LGA had a population of 209,437 in an area of 8.7 km²...

 by a narrow waterway that was dug by the British colonial government.