Lagos raises land transaction fees: what the 2026 Blue Book means for your deal

The Lagos State Lands Bureau has released a revised Fair Market Value schedule — the document the market calls the Blue Book — recalibrating property values across the State to reflect current market realities. It took effect on 1 May 2026.

The revision does not create a new tax. It changes the value on which existing charges are calculated, so Governor's consent, stamp duties, registration, the capital contribution levy, charting and miscellaneous fees all rise together. Commentators in the property market have estimated the overall increase at roughly 300 per cent, though the effect on any particular transaction depends on where the land sits and how the Bureau now values it.

Three practical consequences follow. First, any budget or offer letter prepared before May 2026 that carried a perfection allowance is now understated, and the shortfall lands on whichever party the contract left carrying it. Second, transactions that were left unperfected for years are now materially more expensive to regularise than they were, which changes the arithmetic of delay. Third, apportionment of perfection costs is no longer a boilerplate clause; it deserves to be negotiated on its own terms.

Our advice to buyers and developers is to obtain a current assessment before signing, not after. We re-run the consent and registration figures against the new schedule, put them in writing, and say clearly which side the contract makes responsible.

If you hold Lagos property with unperfected title, this is the year to deal with it. The cost of doing nothing has just gone up.