Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, and the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Monday reaffirmed that Lagos remains a secure and attractive destination for investors. They spoke at the opening of the third edition of the Invest Lagos Summit 3.0, where government officials, investors, development partners, and business leaders gathered to explore opportunities across strategic sectors of the economy.
Shettima Highlights Lagos as Africa's Gateway to Global Wealth
In his address, Vice President Shettima said Lagos State is increasingly emerging as Africa's gateway to global wealth as the continent intensifies efforts to attract a larger share of international investment and trade. He noted that Lagos continues to stand out as a prime destination for business expansion, innovation, and long-term economic growth across Africa. Describing Lagos as the gateway to Africa's economic future and a strategic hub for global investors, Shettima stated that Nigeria possesses the demographic strength, entrepreneurial talent, and economic potential to rank among the world's largest economies by 2050, provided the country continues to invest in innovation, leadership, and infrastructure. He observed that Lagos has maintained its position as Africa's commercial nerve center through deliberate policies, strong institutions, and a business-friendly environment that continues to attract multinational corporations and foreign investments. The vice president also reaffirmed the federal government's commitment to collaborating with states and the private sector to improve infrastructure, expand trade opportunities, and strengthen the ease of doing business across the country.
Sanwo-Olu Showcases Lagos' Investment Potential
In his speech, Governor Sanwo-Olu pointed out that Lagos is Africa's foremost investment gateway, offering unparalleled opportunities for trade, innovation, infrastructure development, and economic expansion across the continent. The governor said Lagos, with over 25 million residents and a rapidly expanding economy, remains strategically positioned to leverage opportunities presented by the African Continental Free Trade Area and global markets. According to him, sustained investments in transport, technology, agriculture, and human capital development have strengthened Lagos's competitiveness, while major infrastructure projects continue to improve connectivity, productivity, and investment attractiveness. He highlighted achievements including the Blue and Red Rail Lines, ongoing work on the Green Line, digital infrastructure expansion, and efforts to establish Lagos as Africa's leading financial hub. “Our ambition is to build a human-centered 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 added that Lagos is attracting increasing support from development finance institutions, multilateral organizations, and private investors. He emphasized that strategic partnerships remain critical to achieving long-term economic transformation goals. Sanwo-Olu stated that success will be measured by investments secured, jobs created, and lives improved, stressing that the summit is designed to generate tangible outcomes beyond discussions and declarations.
Oyedele Discusses Economic Reforms
Also speaking at the event, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, shed more light on ongoing economic reforms aimed at improving Nigeria's investment climate. Oyedele said recent fiscal and tax policy initiatives are enhancing investor confidence and opening up new opportunities for sub-national economic growth.
Commissioner Reaffirms Investor-Friendly Environment
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. Ambrose-Medebem said the summit has evolved into one of Africa's foremost sub-national investment platforms, connecting investors with opportunities spanning infrastructure, healthcare, technology, manufacturing, agriculture, and logistics sectors. She reaffirmed the state's commitment to maintaining an investor-friendly environment through policy reforms, public-private partnerships, and strategic infrastructure investments designed to promote sustainable economic growth and prosperity. “Lagos is open for business, partnerships, and investments. Opportunities, talents, leadership, and market are here to support transformative ventures and shared prosperity,” Ambrose-Medebem said.
Governors Attend Summit
Governors at the summit included Dr. Alex Otti of Abia, Senator Hope Uzodinma of Imo, Dr. Agbu Kefas of Taraba, and Mr. Abdullahi Sule of Nasarawa state.
