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By Lukman Olabiyi
Lagos State Governor, Babajide Sanwo-Olu, has intensified efforts to attract local and foreign investments into Lagos, declaring the state as Africa’s foremost investment gateway with vast opportunities for trade, innovation, infrastructure development and economic expansion.
Speaking at the opening of the third edition of the Invest Lagos Summit 3.0 on Monday, Sanwo-Olu said Lagos remained strategically positioned to leverage opportunities presented by the African Continental Free Trade Area (AfCFTA) and global markets.
The summit brought together government officials, investors, development partners, diplomats and business leaders to explore investment opportunities across key sectors of the economy.
According to the governor, Lagos, with a population of over 25 million people and a rapidly growing economy, has continued to strengthen its competitiveness through sustained investments in transportation, technology, agriculture and human capital development.
He highlighted major infrastructure projects, including the Blue and Red Rail Lines, ongoing construction of the Green Line Rail, expansion of digital infrastructure and initiatives aimed at positioning Lagos as Africa’s leading financial hub.
“Our ambition is to build a human-centred global city where innovation thrives, businesses flourish and opportunities abound for young people seeking to contribute meaningfully to economic development,” Sanwo-Olu said.
The governor noted that Lagos was attracting increasing support from development finance institutions, multilateral organisations and private investors, stressing that strategic partnerships would remain critical to achieving the state’s long-term economic transformation agenda.
He added that the success of the summit would be measured by the volume of investments secured, jobs created and the positive impact on residents, emphasizing that the gathering was designed to deliver tangible outcomes beyond discussions and declarations.
In his remarks, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, described Lagos as Nigeria’s economic heartbeat and a city well-positioned to provide solutions to emerging global challenges.
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Marland said disruptions in global trade, energy security, food systems and climate resilience demanded innovative leadership, noting that Nigeria possesses the resources and entrepreneurial capacity required to drive progress.
“This is the moment for Lagos, Nigeria and the Commonwealth to demonstrate leadership and provide practical solutions that will shape future economic growth and prosperity,” he said.
Earlier, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, described Lagos as Africa’s most dynamic commercial hub and Nigeria’s economic powerhouse.
She said the Invest Lagos Summit had 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’s commitment to maintaining an investor-friendly environment through policy reforms, public-private partnerships and strategic infrastructure investments.
“Lagos is open for business, partnerships and investments. The opportunities, talents, leadership and market are here to support transformative ventures and shared prosperity,” she said.
The summit also featured a high-level panel session involving governors from different states, including Governor Alex Otti of Abia State, Governor Hope Uzodinma of Imo State, Governor Agbu Kefas of Taraba State and Governor Abdullahi Sule of Nasarawa State.
The governors shared experiences, challenges and success stories from their respective states, while discussing strategies for attracting investments, promoting economic growth and improving the ease of doing business across Nigeria.
The event attracted diplomats, financiers, development institutions, corporate executives and investors from within and outside Nigeria, with stakeholders expressing optimism that partnerships forged at the summit would accelerate economic development and unlock new investment opportunities.
