The Lagos State Government has announced mandatory insurance for all multi-storey commercial buildings above two floors. The declaration happened at the just-concluded 2025 Real Estate Discussions and Awards, held in Lagos and organised by Thinkmint Nigeria.
Lagos State is set to begin compulsory insurance for all multi-storey commercial buildings above two floors, while starting land and building regularisation with a 300-property pilot project in Epe.
Delivering one of the keynote presentations, the Special Adviser to the Governor on Enterprise Geographic Information System (E-GIS) and Urban Development, Dr Olajide Babatunde, reiterated Lagos State’s dedication to transforming land administration, urban renewal and housing delivery via technology, transparency and sustainable planning.
According to him, developers should avoid double allocations, forged surveys and unapproved developments because the state will conduct a comprehensive physical planning audit and impose penalties on non-compliant properties.
“The state, working with international partners, has completed comprehensive digital mapping to support the rollout of the Enterprise Geographic Information System, a digital platform that will allow instant land searches, online applications, digital certification, and real-time verification of ownership and approvals.
In addition, a new electronic planning permit system would enable compliant applicants to secure building approvals in as little as 10 minutes, drastically cutting bureaucratic delays,” he said.
Olajide further urged Lagos residents and investors to verify all land titles, surveys and building approvals before any transaction to avoid being sanctioned.
He concluded by saying that Governor Babajide Sanwo-Olu will keep committing to expanding land supply across Lagos to aid the development of the state.
“Governor Babajide Sanwo-Olu’s commitment to expanding land supply for development by unlocking more parcels for lawful and sustainable use is still in place. The state has activated aggressive urban regeneration projects through the Lagos State Urban Renewal Agency, including the Katangua redevelopment, Okobaba relocation to Agboyi, and several site-and-service schemes designed to optimise land utilisation.
Also, Lagos currently operates multiple inherited land title systems, ranging from Queen’s Titles to Federal and State Titles, and the government is consolidating these into a single transparent framework to harmonise ownership, eliminate duplication, and strengthen investor confidence,” he added.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
