The cost of obtaining Governor’s Consent in Lagos is one of the first questions property buyers and sellers ask when planning a land transaction. The answer is not simply a fixed percentage of the purchase price. In Lagos, the applicable charges are generally assessed by reference to the Fair Market Value (FMV) of the property and can include Governor’s Consent, Capital Gains Tax, stamp duty, registration and other applicable charges. This distinction has become particularly important following the introduction of the Lagos State 2026 Fair Market Value framework, which has significantly increased the official values used in assessing land transaction charges in many parts of the State. A buyer who budgets only on the purchase price can therefore be surprised by the amount required to complete title perfection. What Is the Governor’s Consent Fee? Governor’s Consent is the consent required under section 22 of the Land Use Act for certain dealings with a statutory right of occupancy, including assignment, mortgage, transfer of possession and sublease. In Lagos, the consent fee is one component of the wider cost of perfecting the relevant land transaction. The Lagos State Ministry of Lands’ published service schedule lists the Consent Fee on Land Services at 1.5% of the Fair Market Value of the property. It separately lists Capital Gains Tax at 0.5%, stamp duty at 0.5% and registration fees at 0.5%. Therefore, a buyer should distinguish between the Governor’s Consent fee itself and the total cost of perfecting the transaction. How Much Is Governor’s Consent in Lagos in 2026? For a typical land transfer to which the published Lagos State Lands Bureau rates apply, the consent fee is 1.5% of the assessed Fair Market Value. However, the total government charges associated with the transaction can be higher because other charges are separately applicable. The published Lagos State Ministry of Lands schedule provides the following rates for land services: Charge Published rate Governor’s Consent 1.5% of Fair Market Value Capital Gains Tax 0.5% of Fair Market Value Stamp Duty 0.5% of Fair Market Value Registration Fee 0.5% of Fair Market Value Combined percentage-based charges 3% of Fair Market Value These figures should not be interpreted as meaning that every property transaction will always produce exactly the same final bill. Other charges or transaction-specific requirements can apply. The official assessment for the particular transaction should therefore be treated as the final figure. Is Governor’s Consent Calculated on the Purchase Price? Not necessarily. This is one of the most important points for property buyers to understand. The Lagos State Lands Bureau’s published schedule expresses the principal land-service charges as percentages of the property’s Fair Market Value, rather than simply the amount stated in the buyer’s agreement. Consequently, the amount paid for the property and the value adopted for government assessment can produce different figures. For example, if a buyer purchases a property for ₦100 million but the relevant government assessment places its Fair Market Value at ₦150 million, applying a 1.5% consent fee to the assessed value would produce a consent fee of ₦2.25 million rather than ₦1.5 million. The actual assessment, however, must be obtained from the relevant government process for the particular property. What Is the 2026 Fair Market Value Framework? The Lagos State Government revised its Fair Market Value framework for land transactions in 2026. The revised framework, commonly referred to as the 2026 Blue Book, took effect from 1 May 2026. Contemporary reporting on the implementation states that the revised values increased the government-assessed values of property in many parts of Lagos, which in turn increased the naira amount payable for transaction-related charges. The important point is that an increase in the amount payable does not necessarily mean that the percentage rate itself has increased. Where the applicable percentage remains the same but the government’s assessed value of the property increases substantially, the resulting naira amount also increases. Why Did Governor’s Consent Become More Expensive in Lagos? The principal reason for the higher amounts in many transactions is the revision of the official property values used for assessment. For several years, government valuation benchmarks did not always reflect the substantial increase in market values across Lagos. The 2026 revision sought to update those values to reflect prevailing market conditions. As a result, a property that attracts a 1.5% consent fee can generate a much larger monetary charge if the Fair Market Value assigned to it has increased significantly. This distinction is important because saying simply that “Governor’s Consent has increased from X% to Y%” can be misleading. The applicable percentage and the assessed value are separate questions. How Much Would Governor’s Consent Cost on a ₦100 Million Property? Assuming, purely for illustration, that the government’s assessed Fair Market Value is ₦100 million, a 1.5% consent fee would be: ₦1,500,000 The other 0.5% charges listed in the Lagos State Ministry of Lands schedule would each amount to: Capital Gains Tax — ₦500,000 Stamp Duty — ₦500,000 Registration Fee — ₦500,000 That gives: Total of the four percentage-based charges: ₦3,000,000 This is an illustration only. The actual government assessment can differ from the purchase price. What If the Fair Market Value Is ₦500 Million? If the assessed Fair Market Value is ₦500 million: Governor’s Consent at 1.5% = ₦7.5 million Capital Gains Tax at 0.5% = ₦2.5 million Stamp Duty at 0.5% = ₦2.5 million Registration at 0.5% = ₦2.5 million The combined amount of those four percentage-based charges would be: ₦15 million Again, this is an illustration based on the published rates and an assumed Fair Market Value of ₦500 million. It is not a quotation of the amount payable for a particular property. What If the Property Is Worth ₦1 Billion? Using the same published rates and assuming a Fair Market Value of ₦1 billion: Governor’s Consent = ₦15 million Capital Gains Tax = ₦5 million Stamp Duty = ₦5 million Registration = ₦5 million The four percentage-based charges would therefore total: ₦30 million This demonstrates why buyers of high-value Lagos properties should