Manny Ita –
Real estate technology adoption in Lagos could accelerate significantly as the state government expands its GIS mapping, cadastral digitisation and house-numbering initiatives, according to property technology entrepreneur Roland Igbinoba.
Speaking during the Africa Real Estate Entrepreneurship Bootcamp (AREEB) 2026 held in Lagos and organised by the Tosin Olatujoye Foundation, Igbinoba said reliable land and property data are essential for digital innovation in the real estate industry.
The CEO of PropCrowdy Ltd. explained that although interest in digital real estate platforms is growing, PropTech adoption in Lagos remains very low, estimating it at only two or three out of ten.
According to him, ongoing reforms by the Lagos State Government, including GIS mapping, digital cadastral systems and standardised house numbering, are expected to create a stronger foundation for technology-driven property services.
He noted that one of the biggest barriers to innovation is the lack of digitised land records and limited access to verified registry data. This, he said, continues to slow the development of advanced solutions such as blockchain-powered property systems and seamless digital transactions.
Igbinoba identified startups such as Construct, Venco and PropCrowdy as some of the early innovators pushing technology adoption in the sector despite infrastructure and regulatory challenges. He expressed optimism that improved collaboration between government agencies and digital platforms could help Lagos emerge as a leading African PropTech hub within the next few years.
On real estate financing, he described access to affordable capital as one of the sector’s most pressing challenges. He argued that commercial lending rates, which can rise to about 35 percent, are too expensive for long-term property development projects.
He said alternative funding models regulated by the Securities and Exchange Commission, including crowdfunding platforms, tokenisation and Real Estate Investment Trusts (REITs), are becoming increasingly important in bridging financing gaps.
Technology, he added, is also making property investment more accessible to ordinary Nigerians, with some platforms allowing participation from as little as N20,000 to N30,000. He warned that developers unwilling to embrace tech-enabled financing and investment models risk falling behind as the industry evolves.
AREEB 2026 convener Tosin Olatujoye also emphasised the importance of partnerships and knowledge-sharing across Africa’s real estate ecosystem to tackle housing shortages and attract greater investment into the sector.
The Lagos State Government had earlier launched an initiative aimed at documenting and formalising informal land assets estimated at roughly N3 trillion. The programme involves the mapping, valuation and integration of undocumented properties lacking official titles or Certificates of Occupancy into the formal property market.
The project, approved by Governor Babajide Sanwo-Olu, has reportedly expanded from an initial 2,000 hectares to 3,744 hectares and is being managed with support from Octragon Multi Projects.
In addition, Lagos has continued its digital reform push through the Electronic Physical Planning Process System (EPPPS), which automates building approval and planning permit processes. Authorities have stated that any permit processing outside the digital platform would be considered illegal as the state moves toward full digitisation of physical planning services.
