The Lagos State Government has launched a comprehensive initiative to identify, document and formalise all informal land spaces across the state, in a bid to curb misuse, unlock economic value and boost revenue generation.
Eko Hot News reports that the announcement was made at a collaborative meeting hosted by the Lagos State Valuation Office in Alausa. Speaking at the event, the Permanent Secretary, Office of Physical Planning, Engr. Olumide Sotire noted that informal land spaces across Lagos have been widely abused, stressing that the State Government is taking decisive steps to restore and optimise them.
“Lagos’ oil is its land,” Engr. Sotire said. “These informal lands will be identified and put to proper use.”
He disclosed that Governor Babajide Sanwo-Olu has approved the appointment of Octagon Multi Projects as the consultancy firm to drive the statewide project, which will involve all Ministries, Departments and Agencies (MDAs).
The initiative is being implemented under the slogan: “In Lagos, every square meter matters.”
In his welcome address, the Director of the Lagos State Valuation Office, ESV Dr Adekunle Awolaja, commended Engr. Sotire for his leadership and dedication to public service. He described the informal lands project as a timely and strategic development, noting that despite being a relatively small office, the Valuation Office remains committed to fulfilling its mandate effectively.
Providing technical insights, the Chief Executive Officer of Octagon Consultants, Engr. Gbolahan Awonusi explained that the project builds on previous valuation efforts carried out over a decade ago.
He revealed that land initially valued at about ₦800 million is now estimated at ₦8 billion, a figure validated by the UK-based firm, Knight Frank, highlighting significant revenue losses due to poor documentation.
“If Lagos State properly documents and develops informal land, its value increases substantially,” Awonusi said. He disclosed that while the project initially covered about 2,000 hectares, current assessments indicate 3,744 hectares of undocumented land across various locations, with an estimated value of ₦3 trillion. He added that compensation would be paid where applicable.
Also speaking is the General Manager of the Lagos State Informal Space Management Authority, Tpl. Oludaisi Oso underscored the importance of inter-agency collaboration in valuing lands, physical developments and walkways.
He noted that the identified spaces will be strategically leveraged to generate sustainable revenue for the state.
Concluding the engagement, Dr Awolaja expressed confidence that the collaborative initiative will drive increased revenue generation, stimulate investment growth and secure a more prosperous future for Lagos State.
