Lagos State has launched a statewide initiative to identify, document, and formalise informal land assets estimated to be worth about N3 trillion. The project aims to curb land misuse, unlock dormant economic value, and increase internally generated revenue by bringing undocumented land into the formal system. Governor Babajide Sanwo-Olu approved the initiative, with Octragon Multi Projects appointed as the lead consultant, working alongside relevant state ministries and agencies.
The exercise involves mapping, valuation, and integration of land parcels that have remained outside official records for years. The state government said formalising these lands will ensure fair compensation where applicable, strengthen urban planning, attract investment, and convert informal spaces into sustainable, revenue-generating assets. The Lagos State Valuation Office and the Informal Space Management Authority will coordinate the project.
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Lagos’ initiative aligns with the federal government’s World Bank-backed land formalisation framework, which seeks to register all land titles in Nigeria within five years.
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