The project covers 3,744 hectares of undocumented land valued at an estimated ₦3 trillion, a significant jump from earlier projections. Potential for Increased Land Value Formalisation could significantly raise the market value of previously undocumented land. Regulatory Oversight Landowners will be subject to closer monitoring by agencies such as the Lagos State Informal Space Management Authority. Wider Economic ImpactThe Lagos State Valuation Office says the initiative will strengthen investment growth and improve long-term revenue prospects. For landowners, Lagos’ new policy is a double-edged sword: it offers stronger ownership rights and potential value appreciation, but also brings stricter regulation, higher compliance costs, and possible taxation.