JamzNG Latest News, Gist, Entertainment in Nigeria
Lagos State Governor Babajide Sanwo-Olu has stepped up efforts to attract local and foreign investment, describing Lagos as Africa’s main gateway for trade, innovation, infrastructure development and economic growth.
Speaking at the opening of the third edition of the Invest Lagos Summit 3.0 on Monday, Sanwo-Olu said the State remains strategically positioned to capitalize on the opportunities presented by the African Continental Free Trade Area (AfCFTA) and the global economy.
The summit brought together government officials, investors, development partners and business leaders to explore investment opportunities in key sectors of the economy.
According to the governor, Lagos’ population of over 25 million and its growing economy provide a solid foundation for investment and sustainable growth.
He noted that investments in transportation, technology, agriculture and human capital development have strengthened the state’s competitiveness, while major infrastructure projects continue to spur connectivity and productivity.
Sanwo-Olu highlighted landmark projects such as the Blue and Red Railway Lines, the ongoing construction of the Green Line, the expansion of digital infrastructure and efforts to position Lagos as Africa’s leading financial centre.
“Our ambition is to build a human-centered global city, where innovation thrives, businesses thrive and opportunities abound for young people seeking to contribute meaningfully to economic development,” he said.
The governor added that Lagos is increasingly attracting support from development finance institutions, multilateral agencies and private investors, stressing that strategic partnerships are essential to achieving long-term economic transformation.
He said the success of the summit will be measured by tangible results, including secured investments, jobs created and improvements in citizens’ lives.
Also speaking, the Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, expressed confidence in the economic potential of Lagos, describing the state as the economic heart of Nigeria and a city capable of providing solutions to global challenges.
Marland said issues such as trade disruptions, energy security, food supply and climate resilience require innovative leadership, adding that Nigeria has the resources and entrepreneurial capacity to play a leading role.
“This is the time for Lagos, Nigeria and the Commonwealth to demonstrate leadership and provide practical solutions that will shape future economic growth and prosperity,” he said.
Earlier, the State Commissioner for Trade, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, had described Lagos as Africa’s most dynamic business hub and Nigeria’s economic powerhouse.
He said Invest Lagos has evolved into one of Africa’s leading sub-national investment platforms, connecting investors with opportunities in infrastructure, healthcare, technology, manufacturing, agriculture and logistics.
Ambrose-Medebem reaffirmed the state government’s commitment to supporting an investor-friendly environment through policy reforms, public-private partnerships and strategic infrastructure investments.
“Lagos is open for business, partnerships and investment. The opportunities, talent, leadership and market needed to support transformation initiatives are here,” he said.
The summit attracted governors, diplomats, financiers, development institutions and business leaders from Nigeria and abroad, with participants exploring partnerships aimed at accelerating economic growth and development.
