The Lagos State Government has intensified efforts to reform land administration with a stakeholders’ engagement on the review of Fair Market Value under its proposed ‘Blue Book’ framework.
The engagement, which brought together key players in the built sector, was held on Tuesday at Adeyemi Bero Hall, Alausa, Ikeja, as part of ongoing initiatives to develop a more efficient, transparent and investor-friendly land administration system in the state.
Speaking at the session, the Permanent Secretary, Lands Bureau, Kamal Olowosago, reiterated the government’s commitment to inclusive consultations in refining the reviewed Fair Market Value document.
He said the review is aimed at ensuring transparency and fairness in land valuation, boosting investor confidence and increasing internally generated revenue through improved compliance and broader coverage.
Olowosago explained that the framework is anchored on four key pillars: ease of doing business, development of an accurate and reliable land database, and support for planning, taxation and policy decisions.
According to him, the initiative is expected to stimulate real estate development, strengthen the state’s land records, enhance Lagos’ ease of doing business ranking and global competitiveness, as well as improve revenue generation.
He stressed that sustained stakeholder engagement remains critical to securing widespread acceptance and ensuring effective implementation of the policy.
The Head of Service, Olabode Agoro, who was represented by the Permanent Secretary, Ministry of Waterfront Infrastructure Development, Wasiu Olayinka, described the Blue Book as a strategic tool for improving land-based revenue, enhancing transparency and reducing disputes between government and property owners.
He said the framework would also strengthen data-driven governance and serve as a cornerstone for a more equitable, efficient and liveable Lagos.
Agoro added that the introduction of the Blue Book aligns with ongoing reforms to ensure property values reflect current market realities, noting that periodic reviews and capacity building for personnel would be sustained to guarantee efficiency.
He further noted that the benefits of the initiative extend beyond government, as it would help curb sharp practices and eliminate arbitrary charges associated with land valuation.
Earlier, the Director of Acquisition, Revocation and Compensation in the Lands Bureau, Olawale Ojikutu, said the government has continued to involve stakeholders in the review process to promote transparency and build public trust in the emerging valuation system.
