At the heart of urban development and economic growth challenges lies a crucial issue: optimizing the processes for obtaining building permits in Lagos. The issue takes on a new dimension with the enlightening remarks of the former Minister of Works and Housing, Mr. Babatunde Fashola, expressed at the Lagos Physical Planning Summit 2024.
Fashola highlights a striking observation: the current delays, which can stretch up to two years for obtaining planning approval, constitute a real brake for investors and a major obstacle to economic growth. This administrative slowness deters economic actors and compromises the attractiveness of investment in the region.
The message is clear: to encourage investment and foster sustained economic growth, it is imperative to simplify and accelerate the approval processes for development and construction. Investors need quick and efficient responses, so that they can complete their projects within a reasonable time frame.
The former minister also stressed the importance of setting fair and reasonable building approval processing fees. The focus should be on delivering quality service, rather than generating short-term revenue. He stressed that the fees should not be seen as a source of revenue, but rather as a contribution to the administrative costs incurred by government in providing this essential service.
He stressed that the real revenue for government comes from the construction of buildings and the economic activities that flow from them, such as property taxes, local government taxes and VAT. He stressed the importance of using technology to streamline the approval process and reduce bureaucracy, thereby ensuring greater efficiency and attractiveness to investors.
Babatunde Fashola’s words resonate as a call to action for the Lagos authorities to rethink their practices, simplify procedures and adopt a more efficient and investor-friendly approach. Creating an enabling environment for business, by reducing administrative barriers and fostering innovation in urban planning, is crucial.
In conclusion, reforming the building approval processes in Lagos is a major challenge for the region’s economic development. By promoting the simplification, streamlining and efficiency of administrative procedures, local authorities will be able to stimulate investment, boost the economy and create an environment conducive to prosperity and sustainable growth.It is time to act to build a modern, attractive and prosperous Lagos for all its residents and investors.