Vice President Kashim Shettima has stated that Nigeria's goal of achieving a $1 trillion economy will be driven by private enterprise, strategic investments, and coordinated reforms across all levels of government. He identified Lagos State as a clear example of how subnational leadership can catalyze national transformation.
Speaking at the opening of the Invest Lagos 3.0 Summit at Eko Hotels and Suites in Victoria Island, Lagos, Shettima emphasized that the country's economic future depends on creating an environment where businesses can thrive, innovation can flourish, and investors can deploy capital with confidence.
Shettima praised President Bola Tinubu for taking difficult decisions for the nation's progress, stating that leadership requires making harsh choices. He noted that those who wish to be nice should consider selling ice cream instead of leading.
Alongside Governor Babajide Sanwo-Olu of Lagos and Finance Minister Taiwo Oyedele, Shettima highlighted investment opportunities in Lagos, affirming that the state remains a secure haven for investors.
The Federal Government also unveiled plans to extend the existing Lagos rail network to the domestic and international terminals of Murtala Muhammed Airport (MMA) in Lagos. Aviation Minister Festus Keyamo announced that discussions are underway to commence the rail project, which would connect the rail line terminating at Ikeja Bus Stop to the General Aviation Terminal and continue through MMA2 to the international wing.
Keyamo noted that despite the array of airports in the country, 67 percent of total passenger traffic arrives or departs from Lagos. The rail extension aims to strengthen Lagos' position as Africa's leading aviation hub.
Governor Sanwo-Olu credited Tinubu with laying the foundation for the modern Lagos economy and outlined his administration's achievements in agriculture, healthcare, human capital development, transportation, energy, technology, trade, and commerce.
Finance Minister Oyedele said the Tinubu administration's reforms are beginning to yield results, with Lagos emerging as an example of subnational economic resilience.
Lagos Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, underscored the state's readiness for business and investments.
Commonwealth Secretary-General Shirley Botchwey described Lagos as a city that justifies its reputation as Africa's business gateway, noting its pace in technology, culture, and enterprise.
Chairman of the Commonwealth Enterprise and Investment Council, Lord Marland, called for pragmatic leadership amid global challenges, praising Nigeria's determination.
Dr. Gainmore Zanamwe, representing Afreximbank President Dr. George Elombi, reaffirmed the bank's commitment to supporting viable investments in Lagos and Nigeria.
AfCFTA Secretary-General Wamkele Mene emphasized that Africa's future growth depends on collaboration, infrastructure investments, and support for entrepreneurship, with Lagos strategically positioned to help realize these aspirations.
The summit also featured a fireside conversation with governors from Plateau, Nasarawa, Imo, Abia, and Lagos on the role of subnational governments in driving investment-led growth.
