Can 2 Million Naira Build Me A 3 Bedroom Bungalow?

Hello professionals, please can #2M build me a 3-bedroom bungalow. The land is already available.

My family house is old and always affected by floods. Anytime rain falls, the whole house is flooded.
Though floods usually disturb that area. I’m majorly concern about my parents who are getting old putting their legs and sleeping on top of the flood anytime it rains heavily.
Because of the flood, I developed asthma while growing up and still battling with it.
Initially, I have any intention of doing some rehabilitation of the old house by removing the roof and filling it above the flood level so that in case the flood comes it will stay outside and won’t be able to enter the house (worst-case scenario).
But my mom discouraged me from telling me that it’s better to rebuild a new house because the foundation of the old house is already weak.
But I’m very confused because I doubt if my budget can build me a new 3 bedroom flat in front of the old house.
Please kindly advise me. Thanks in anticipation
Location: Lagos

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