**News Flash: Lagos State to Tokenize Real Estate with Blockchain**

Lagos State, Nigeria, is set to revolutionize its real estate market by tokenizing property assets using blockchain technology. This innovative move aims to enhance transparency, efficiency, and ease of property transactions.

**Key Points:**

- **Tokenization Explained:** Real estate tokenization converts property assets into digital tokens on a blockchain, allowing for easier buying, selling, and trading.

- **Revenue Boost:** The initiative, part of the Eko Revenue Plus Summit, aims to increase Lagos State’s internally generated revenue by attracting more investors.

- **Budget and Collaboration:** With a budget of 500 million naira ($314,465), the project will be led by the Ministry of Science and Technology, in collaboration with various agencies.

- **Security and Trust:** Blockchain will help address issues like land title fraud and lack of transparency, ensuring tamper-proof records.

The project will unfold over 16 months, focusing on developing the necessary tech infrastructure, regulatory framework, and public awareness to support this groundbreaking initiative.