New Framework Targets Long-Term Revenue from Lagos Coastal Assets
The Lagos State Government has introduced a new framework for waterfront development as part of a broader strategy to boost revenue from the state’s coastal and island assets.
The Commissioner for Waterfront Infrastructure Development, Dayo Alebiosu, disclosed this while reviewing the ministry’s activities for 2025 and outlining projections for 2026.
According to him, the new policy represents a departure from the previous model of one-off payments for reclaimed land, replacing it with a profit-sharing arrangement that enables the state to derive sustained value from its coastal assets over the long term.
Alebiosu explained that under the former system, developers paid lump sums for large tracts of reclaimed land payments that often failed to reflect the assets’ true future value.















