Lagos Targets N3 trillion from Undocumented Land Assets

Lagos State has launched a statewide initiative to identify, document, and formalise informal land assets estimated to be worth about N3 trillion.

The initiative is aimed at curbing land misuse, unlocking dormant economic value, and significantly boosting internally generated revenue by bringing undocumented land into the formal system.

According to a statement posted on the state government’s official X account on Thursday, the exercise will involve extensive mapping, valuation, and integration of land parcels that have remained outside official records for years.

Informal land assets refer to lands that are occupied, inherited, or actively used but lack formal documentation such as Certificates of Occupancy or registered titles, making them legally and economically invisible.

What they are saying

The Lagos State Government said the initiative is designed to unlock the economic potential of undocumented lands across the state while reducing revenue leakages and improving land governance.

The project follows Governor Babajide Sanwo-Olu’s approval, with Octragon Multi Projects appointed as consultant to lead the exercise in collaboration with relevant Ministries, Departments, and Agencies (MDAs).

“The Lagos State Government has announced a comprehensive project to identify, document, and revitalise all informal land spaces across the state. The initiative aims to curb misuse, unlock economic value, and boost revenue generation,” the statement read in part.

The government added that proper documentation would also ensure fair compensation where applicable and strengthen urban planning outcomes.

Details of the project

The CEO of Octragon Multi Projects, Engr. Gbolahan Awonusi, said the initiative builds on earlier land documentation efforts in Lagos, noting that the economic value of informal land assets has risen sharply over the past decade.

He disclosed that while the project initially targeted 2,000 hectares of undocumented land, it has expanded to 3,744 hectares across multiple locations, with an estimated value of about N3 trillion.
The Permanent Secretary of the Office of Physical Planning, Engr. Olumide Sotire, described land as Lagos’ most critical resource, adding that formalisation would attract investment, improve urban planning, and boost government revenue.

The Lagos State Valuation Office will coordinate the exercise alongside relevant MDAs, while the Lagos State Informal Space Management Authority said proper valuation could transform informal spaces into sustainable, revenue-generating assets.

More insights

Across Nigeria, millions of land parcels hold real economic and social value but remain excluded from the formal economy due to the absence of legal titles.

Without documentation, landowners cannot use these assets as collateral, attract investment, or fully participate in economic activity, leaving vast wealth locked as “dead capital.”
Lagos’ initiative seeks to change this by converting undocumented land into bankable, taxable, and investable assets—strengthening both private wealth creation and public revenue.

The N3 trillion estimate reflects the scale of value currently sitting outside official land records in the state.

Expert insights

To understand the broader implications of land formalisation, Nairametrics spoke to industry experts, who said the Federal Government’s World Bank-backed framework provides direction, but Lagos’ initiative could determine how quickly real economic value is unlocked.

Engr. Babatunji Adegoke, General Secretary of the Nigerian Institution of Civil Engineers (NICE), Lagos State Chapter, said land registration “goes beyond titles.”

He explained that it provides essential data to align infrastructure with population growth, but warned that difficult terrain and limited technical capacity could slow surveys if not properly addressed.
Ekpo Sun-myke, a certified town planner with the Nigerian Institute of Town Planners (NITP) and the Town Planners Registration Council of Nigeria (TOPREC), said formalisation “reduces disputes and strengthens urban planning.” He added that integrating customary systems and educating communities would be critical for adoption.

A Quantity Surveyor with over a decade of experience said technology would be decisive, stressing that “drones, GIS, and strong public-private partnerships can significantly cut the cost and time of land mapping,” especially for a complex state like Lagos.

What you should know

Lagos’ move aligns with the Federal Government’s land formalisation agenda, backed by a World Bank partnership announced in September 2024 to register all land titles in Nigeria within five years.