Manny Ita
The Lagos State Government has announced a statewide initiative to identify, document, and formalize informal land assets estimated to be worth approximately ₦3 trillion. The project, approved by Governor Babajide Sanwo-Olu, is designed to bring undocumented land into the formal economy, curbing land misuse while significantly increasing internally generated revenue. According to a statement released on Thursday via the state government’s official X account, the exercise will involve extensive mapping, valuation, and integration of land parcels that have historically remained outside of official records.
Informal land assets—defined as areas occupied or used without formal legal titles such as Certificates of Occupancy—represent a significant portion of “dead capital” within the state. The government stated that the initiative is intended to “unlock the economic potential of undocumented lands across the state while reducing revenue leakages and improving land governance.” The project is being led by Octragon Multi Projects as the appointed consultant, working in tandem with various Ministries, Departments, and Agencies (MDAs).
Engr. Gbolahan Awonusi, CEO of Octragon Multi Projects, noted that the scope of the project has expanded as more informal spaces have been identified. He disclosed that while the initiative originally targeted 2,000 hectares, the current focus has grown to 3,744 hectares across several locations. “The economic value of informal land assets has risen sharply over the past decade,” Awonusi said, confirming the estimated ₦3 trillion valuation. The Permanent Secretary of the Office of Physical Planning, Engr. Olumide Sotire, reinforced the importance of the move, describing land as the state’s “most critical resource” and asserting that formalization would “attract investment, improve urban planning, and boost government revenue.”
Industry experts have highlighted both the potential and the challenges of the massive undertaking. Engr. Babatunji Adegoke, General Secretary of the Nigerian Institution of Civil Engineers (NICE), Lagos State Chapter, remarked that land registration “goes beyond titles,” explaining that it provides essential data for infrastructure alignment. However, he warned that “difficult terrain and limited technical capacity could slow surveys if not properly addressed.” Similarly, certified town planner Ekpo Sun-myke noted that while formalization “reduces disputes and strengthens urban planning,” the integration of customary systems and community education would be “critical for adoption.”
This statewide drive aligns with a broader federal agenda and a 2024 World Bank-backed partnership aimed at registering land titles nationwide to unlock an estimated $300 billion in untapped wealth. By implementing this mapping and valuation drive, Lagos positions itself as a lead participant in the proposed National Land Digital System (NLDS). The Lagos State Valuation Office and the Lagos State Informal Space Management Authority will continue to coordinate the exercise, with the goal of transforming informal spaces into sustainable, revenue-generating assets.
