Lagos State Governor, Babajide Sanwo-Olu, says the state is strengthening its position as Africa’s leading investment destination, projecting continued economic expansion toward a $300bn sub-national economy, as he outlined ongoing infrastructure, technology, and trade reforms at the Invest Lagos 3.0 forum.
Speaking at the international investment event attended by Vice President Kashim Shettima and global investors, Sanwo-Olu said Lagos was deliberately building a 21st-century economy anchored on infrastructure development, human capital, and private-sector-driven growth.
According to him, the state has recorded sustained economic progress, driven by reforms in transportation, digital infrastructure, and industrial expansion.
“We have walked, we’ve been driven by vision, by ambition, and we’ve set out to leave things better than we met them,” he said. “We have ensured that no part of the city landscape has been left untouched.”
He highlighted major infrastructure projects, including the completion of key rail lines.
“We have completed and added several high-impact infrastructure in waterways, transportation, and road infrastructure. We have handed over two rail projects, the Blue Line and the Red Line. We are ushering with the federal government the third rail, the Green Line,” he said.
Sanwo-Olu also pointed to Lagos’ growing role in global trade and investment flows, noting its participation in major continental and international initiatives.
“If you want to reach Africa and benefit from its boundless economic potential, then Lagos certainly offers the most viable and appealing route,” he said.
He added that the state is positioning itself as the hub of the African Continental Free Trade Area (AfCFTA), stressing its population size, economic output, and connectivity.
“We are the most attractive jewel in that free trade area and the largest and most popular sub-national economy, with over 25 million people and a GDP inching closer to $300bn,” he said.
The governor also underscored Lagos’ growing technology ecosystem, citing investments in data infrastructure and the emergence of unicorn companies.
“We’ve nurtured technology unicorns… We’re redrawing the architecture of Africa’s commerce and its capacity,” he said.
He further explained that Lagos is developing a dedicated financial hub, the Lagos International Financial Centre, to deepen capital inflows and global competitiveness.
“The LIFC will be a purpose-built financial district to serve as a nexus of capital inflow between Africa and the world,” he said.
Sanwo-Olu also noted recent international recognition and partnerships, including investment inflows from development finance institutions.
“We’re seeing investment coming from the British International Investment, African Finance Corporation, Afreximbank, and other multilateral institutions,” he said.
He commended the Federal Government, President Bola Tinubu, and international partners for supporting Lagos’ economic ambitions, adding that collaboration across subnational governments was critical to national growth.
“The federal government, our development partners, civil society, and the media—there is room for bold cooperation,” he said.
He concluded that success would not be measured by speeches or commitments but by actual delivery of investments and jobs.
“We will judge success not by powerful speeches or headlines, but by concrete investment that will create jobs and transform lives,” he said.
The Invest Lagos 3.0 forum brought together government officials, investors, and development partners to explore opportunities in infrastructure, energy, healthcare, logistics, and digital economy sectors.
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