Edo Plans to Sell Prime Lagos Property to Fund Benin City Infrastructure
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Edo State wants to turn a prime Victoria Island property into funding for a major Benin City project. But the proposed sale is already raising questions about whether valuable public land should be sold or retained for future returns.
Edo State plans to sell its liaison office in Victoria Island, Lagos, as part of a strategy to unlock capital from government-owned real estate. Proceeds from the proposed sale would help finance a new International Conference Centre in Benin City.
The proposal reflects a broader trend of governments monetising underutilised property to fund infrastructure without relying entirely on new borrowing. However, stakeholders have questioned whether disposing of a strategically located Victoria Island asset is the best long-term option, given the potential for future appreciation or redevelopment.
The transaction could therefore become a test of how effectively public authorities balance immediate infrastructure needs against the long-term value of government property.
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