The Lagos State Government has launched a statewide initiative to identify, document, and formalise informal land assets estimated to be worth about N3 trillion, Peak Newspaper reports.
The government disclosed this in a statement posted on its official X account on Thursday. It said the project is designed to curb land misuse, unlock dormant economic value, and significantly boost revenue by bringing undocumented land into the formal system.
According to the statement, the exercise will involve the mapping, valuation, and integration of informal land spaces that have remained undocumented and underutilised for years across the state.
The government said the initiative aims to unlock the economic potential of undocumented lands while reducing revenue leakages and improving transparency in land administration. It added that proper documentation would also ensure compensation is paid where applicable.
The project follows the approval of Governor Babajide Sanwo-Olu, with Octragon Multi Projects appointed as consultant to lead the exercise in collaboration with relevant Ministries, Departments, and Agencies.
“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 said.
