Sanwo-Olu positions Lagos as global business hub at NBCC forum

Lagos State Governor, Babajide Sanwo-Olu, has urged local and international investors to view Lagos as a strategic platform for production, innovation, regional trade and international investment, rather than merely a large consumer market.

He made the call at the Nigerian-British Chamber of Commerce (NBCC) 2026 Meet the Governor Series 2.0, themed, “The Future of Lagos: Business, Investment & Global Competitiveness.”

Sanwo-Olu said the state remained committed to creating an enabling business environment that would attract capital, stimulate production, create jobs and strengthen its position in the global economy.

“See it as a platform for production, innovation, regional trade and international investment, and see the Lagos State Government as a partner committed to your success,” he told investors.

Discussions at the forum centred on Lagos State’s business environment, investment opportunities and global competitiveness, particularly within the context of Nigeria-United Kingdom relations.

The governor described Lagos as a national economic asset whose importance demands sustained investment, stronger institutions and policies that support long-term business growth.

He said investors needed an environment where government policies were predictable, institutions honoured their obligations and businesses could generate reasonable returns on their investments.

According to him, reducing business risks is essential to attracting capital, creating employment and expanding economic opportunities across the state.

Sanwo-Olu identified technology, manufacturing, financial services, trade, logistics and real estate as sectors offering significant investment prospects in Lagos.

However, waste management emerged as a major concern during the engagement, as participants raised questions about deteriorating environmental conditions in some parts of the state.

Acknowledging the shortcomings, the governor said, “I’ll be the first to accept that we dropped the ball.”

He disclosed that the state government had ordered 160 compactor trucks and signed agreements for two material recovery facilities as part of efforts to improve waste collection and processing.

According to him, Lagos generates between 12,000 and 14,000 metric tonnes of waste daily, making efficient waste management critical to public health, environmental sustainability and the state’s attractiveness to investors.

Sanwo-Olu added that the government was pursuing digitisation, improved mapping and other measures to address operational challenges and clear the backlog in waste collection.

On support for small businesses, he said the Lagos State Employment Trust Fund had provided assistance to close to 42,000 businesses, underscoring the government’s efforts to promote entrepreneurship and economic participation.

The governor said Lagos’s long-term ambition was to build a productive, connected and globally competitive economy, stressing the need for continuity in development planning beyond his administration.

He argued that government remained a continuum and that successive administrations should build on existing plans while addressing shortcomings.

“However, continuity should not mean protecting policies from scrutiny. It should mean retaining effective programmes, correcting weaknesses and measuring results against clear targets,” he said.

Earlier, the NBCC President and Chairman of Council, Prince Abimbola Olashore, described the Meet the Governor Series 2.0 as a platform for direct engagement between business leaders and government officials.

He said the initiative enabled investors to understand the economic direction of key states and identify practical opportunities for private-sector participation.

Olashore noted that the Lagos edition was particularly significant because of the state’s central role in Nigeria’s commercial and investment landscape.

“Lagos is a major centre for financial services, trade, technology, manufacturing, real estate, logistics and professional services. Its concentration of businesses, entrepreneurial talent, financial institutions and access to local and international markets gives the State a distinctive position within Nigeria’s economy and the wider African business environment,” he said.

He, however, stressed that sustaining the state’s economic advantage and strengthening its global competitiveness would require continuous investment, innovation, effective infrastructure and an enabling business environment.

“However, sustaining this position and strengthening Lagos’ global competitiveness requires continuous investment, innovation, effective infrastructure and an enabling environment in which businesses can operate, expand and compete,” Olashore added.

Also speaking, the Chairman of the NBCC Programmes Committee, Tajudeen Ahmed, said the forum’s theme was timely, given Lagos’s position as Nigeria’s commercial nerve centre and one of Africa’s most dynamic megacities.

He noted that the state’s business ecosystem spanned finance, trade, technology, logistics, real estate, manufacturing and the creative industries, providing a strong foundation for further economic expansion.

“The opportunity before us is to look ahead: to build on these strengths by creating an environment that attracts investment, supports businesses, strengthens infrastructure and innovation, and keeps Lagos a leading destination for business on the global stage,” Ahmed said.

He added that positioning a state of Lagos’s scale for the future required more than government policies, emphasising the importance of public-private partnerships, visionary leadership, infrastructure development and innovation.

“It requires strong partnerships between the public and private sectors, visionary leadership, infrastructure, investment, innovation and an enabling business environment,” he said.