The Lagos State Government has expanded its ongoing land mapping and formalisation project as it moves to capture an estimated ₦3 trillion worth of undocumented land assets currently outside the state’s official records.

The initiative, approved by Governor Babajide Sanwo-Olu, is aimed at identifying, documenting, and integrating informal landholdings into the formal economic system, a move the government says will unlock significant dormant value, strengthen urban planning, and boost internally generated revenue (IGR).

Officials at the Lagos State Valuation Office disclosed that the scope of the project has grown beyond its initial target. What began as a mapping exercise covering about 2,000 hectares has now been expanded to 3,744 hectares of undocumented land located in strategic and high-value parts of the state.

The exercise involves comprehensive land mapping, valuation, and registration, targeting parcels that have historically existed outside government databases due to weak documentation, informal transfers, or long-standing community ownership structures.

Speaking on the project, the Permanent Secretary, Office of Physical Planning, Engr. Olumide Sotire, described land as Lagos State’s most critical economic asset. He said formalising land ownership remains central to attracting private investment, improving infrastructure delivery, and addressing persistent urban planning challenges.

According to Sotire, undocumented land represents “dead capital” that neither benefits landholders nor contributes meaningfully to economic development. Without formal titles, property owners are unable to use land as collateral to access credit, limiting small business expansion and stifling real estate development.

To ensure effective coordination, Octragon Multi Projects has been appointed as the lead consultant for the exercise, working alongside relevant Ministries, Departments, and Agencies (MDAs). The consultant is expected to support valuation processes, data harmonisation, and integration into the state’s land administration framework.

The government expects the land formalisation drive to deliver multiple benefits. Beyond expanding the state’s revenue base through land-related taxes and charges, the project is expected to enhance security of tenure for property owners, reduce land disputes, and increase investor confidence in Lagos’ property market.

The initiative also aligns with the state’s broader fiscal strategy. Lagos recorded a 45 percent increase in internally generated revenue in 2024, reaching ₦1.3 trillion, according to the Commissioner for Finance, Abayomi Oluyomi. The ₦3 trillion land asset project is viewed as a key pillar for sustaining revenue growth in 2025 and 2026.

At the national level, the Lagos programme dovetails with the Federal Government’s land reform agenda. Backed by a World Bank-supported framework announced in late 2024, the national objective is to register all land titles in Nigeria within five years.

Currently, more than 90 percent of land across the country remains undocumented, representing an estimated $300 billion in untapped economic value. Lagos’ aggressive approach to mapping and valuation positions the state as a frontrunner in implementing the national land formalisation framework.

Analysts say successful execution of the project could provide a stable foundation for urban renewal, infrastructure financing, and improved housing delivery. For investors and policymakers, the initiative is expected to serve as a benchmark for how sub-national governments can leverage dormant assets to fund development without increasing debt.

As Lagos continues to grow as Africa’s largest city, the state government maintains that fixing inefficiencies in land administration remains critical to sustainable urban expansion and long-term economic resilience.

The post Lagos Expands Land Mapping Project to Capture ₦3trn in Dormant Assets appeared first on Housing TV Africa.