•As Omotola warns against profit-driven devt
By Ishola Balogun
The Shoreline Developers Association of Lagos (SDAL) was formally inaugurated yesterday, with its President, Lai Omotola, urging stakeholders to look “beyond profits to sustainability” in the face of rapid shoreline property growth and environmental threats.
Speaking at the Ebootcamp in Wasimi, Omotola highlighted the surge in shoreline property values, which have risen by 751% in the past five years, alongside a 300% increase in planning permit and title registration fees. He warned that unchecked development risks damaging Lagos’ natural endowment.
“There is a rush by businessmen to join the fray without concerns for environment and nature,” Omotola said. “Our vision is to see the beauty of nature complimented by development towards improving lifestyle and living conditions.” Omotola stressed that shoreline development must go beyond sandfilling, pointing to untapped opportunities in fisheries, wind farms, coastal railways, renewable energy, port logistics, and eco-tourism.
