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Land Administration in Lagos
There can be no reinventing the business environment of any state without effective land administration.
The antediluvian concept of treating landed assets as a commodity for family inheritance, a means of measuring social status and not a factor of production is a singular misguided vitiating element in the economic emancipation of Lagos State.
Lagos has no business in debt financing to the extent of leading other states in raising the country debt burdens to the present unsustainable levels.
Land is like the oil that Lagos is endowed with but every past governor of Lagos State including Governor Sanwo-olu could not connect its intrinsic value to the larger productive economy.
Only Babatunde Fashola got it right but was quickly distracted and abandoned the course.
For Lagos State to function like any modern city of her status Gov Sanwo-olu must immediately commence revocation of all land that are not developed that litter the whole city and continue to threaten the livability index status of Lagos in the comity of nations.
Minister Nyesom Wike has started this in Abuja. If he doesn’t abandon it, Abuja could overtake Lagos as a better investment destination in the foreseeable future.
Maybe Lagos State should desist from placing land use charge notices on practically every property in the city without any unenforceable roadmaps. The results would be exponential if they concentrate efforts on the undeveloped plots which are mostly exempted from the charges.
A defective land administration is a major disincentive to investment and a reducing agent for IGR.
Lagos IGR ought to be in multiples of trillions but today it is what it is. In the year 2024, the governor should bring Lagos out of this complacency and write his legacy in gold.
Bukola Ajisola,
Estate Surveyor and Valuer.
