Lagos State has unveiled a statewide program to identify, register, and formalise informal land holdings valued at around N3 trillion.

The initiative seeks to prevent land misuse, unlock untapped economic potential, and enhance internally generated revenue by incorporating previously undocumented land into the formal system.

A statement on the state government’s official X account on Thursday said the exercise will include comprehensive mapping, valuation, and integration of land parcels that have long been absent from official records.

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

Lagos State said the initiative aims to unlock the economic value of undocumented lands across the state, curb revenue leakages, and strengthen land governance.

The project comes after Governor Babajide Sanwo-Olu’s approval, with Octragon Multi Projects appointed as the lead consultant, working alongside 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 read in part.

The government added that formal documentation would also guarantee fair compensation where needed and enhance urban planning outcomes.

The CEO of Octragon Multi Projects, Engr. Gbolahan Awonusi, said the initiative builds on previous land documentation efforts in Lagos, highlighting that the economic value of informal land assets has surged over the past decade, according to Nairameteics.

He revealed that while the project initially focused on 2,000 hectares of undocumented land, it has now expanded to 3,744 hectares across multiple locations, with an estimated value of around N3 trillion.

The Lagos State Valuation Office will lead the exercise in collaboration with relevant MDAs, while the Lagos State Informal Space Management Authority noted that accurate valuation could turn informal spaces into sustainable, revenue-generating assets.

The Permanent Secretary of the Office of Physical Planning, Engr. Olumide Sotire, described land as Lagos’ most vital resource, noting that its formalisation would attract investment, enhance urban planning, and boost economic growth.