The Lagos State Government has announced compulsory insurance for all multi-storey commercial buildings above two floors.

This was disclosed at the just-concluded 2025 Real Estate Discussions and Awards, held in Lagos and organised by Thinkmint Nigeria.

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, reaffirmed Lagos State’s commitment to transforming land administration, urban renewal and housing delivery through technology, transparency and sustainable planning.

He said, “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.”

Lagos would soon begin compulsory insurance for all multi-storey commercial buildings above two floors and commence land and building regularisation with a 300-property pilot project in Epe.

“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 warned developers against double allocations, forged surveys, and unapproved developments, noting that the state is conducting a comprehensive physical planning audit and will impose penalties on non-compliant properties.

He urged Lagos residents and investors to verify all land titles, surveys and building approvals before any transaction to avoid sanctions.

He reaffirmed, “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.”

Corroborating the above, the Permanent Secretary, Office of Physical and Urban Development, Olumide Sotire, emphasised the importance of regulation and professional synergy in managing Lagos’s rapid urban expansion.

He said, “The city’s population growth and internal migration have created fragmented and unplanned developments, putting immense pressure on land, housing, and infrastructure. There should be strict adherence to physical planning laws to ensure orderly and sustainable urban development.”

Engr Sotire described ongoing infrastructure projects, including the Lekki Deep Sea Port, Lagos-Calabar Coastal Road, Lekki-Epe and Lagos-Badagry Expressway expansions, and the Lagos Rail and Water Transport Systems, as catalysts opening new investment corridors across the state.

He further advocated green building designs, climate-resilient infrastructure, and smart city innovations, describing sustainability as the foundation of Lagos’s future planning strategy. He also underscored the role of the E-GIS initiative in promoting transparency and efficiency in land management.

From the national perspective, the Executive Director, Operations, Family Homes Funds, Dr Emeka Inegbum, shared insights on innovative financing models being deployed to address Nigeria’s housing deficit.

He explained that FHF, a Federal Government-owned institution under the Ministry of Finance, was focused on unlocking affordable housing through strategic funding mechanisms.

Inegbum highlighted four major interventions, which included the Affordable Housing Fund, the Rental Housing Fund, the Help-to-Own Programme, and the Land and Infrastructure Development Fund.

In her remarks, the Chief Executive Officer of Thinkmint Nigeria, Imelda Olaoye, commended the level of collaboration and policy clarity that emerged from the 2025 REDA discussions.

She said, “This year’s edition is a compelling platform that reinforces collaboration, innovation and integrity as the cornerstones of Nigeria’s real estate future. The gathering reaffirmed REDA’s role as Nigeria’s premier convergence for real estate and housing professionals, where ideas meet action, partnerships are strengthened, and the blueprint for sustainable development is charted.”