VICTORIA ISLAND: Lagos State Governor, Babajide Sanwo-Olu, has reaffirmed the state’s position as Africa’s leading investment destination, as the Commonwealth Enterprise and Investment Council (CWEIC) pledged support for Lagos’ drive to attract more local and foreign investments.
Speaking at the opening of the third edition of the Invest Lagos Summit 3.0 on Monday, Sanwo-Olu described Lagos as Africa’s foremost gateway for investment, trade, innovation and economic growth.
The summit brought together government officials, development partners, investors and business leaders to explore opportunities across critical sectors of the economy.
According to the governor, Lagos, with a population of more than 25 million people and a rapidly growing economy, is strategically positioned to take advantage of opportunities presented by the African Continental Free Trade Area (AfCFTA) and global markets.
He noted that sustained investments in transportation, technology, agriculture and human capital development have continued to boost the state’s competitiveness, while major infrastructure projects are enhancing connectivity and improving the ease of doing business.
Sanwo-Olu highlighted some of the state’s landmark projects, including the Blue and Red Rail Lines, ongoing construction of the Green Line, expansion of digital infrastructure and efforts 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,” the governor said.
He added that Lagos was receiving increasing support from development finance institutions, multilateral agencies and private investors, stressing that strategic partnerships remained essential to achieving long-term economic transformation.
According to him, the success of the summit would not be measured by discussions alone but by the volume of investments attracted, jobs created and the impact on the lives of residents.
In his remarks, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, described Lagos as the economic heartbeat of Nigeria and a city capable of providing solutions to emerging global challenges.
He said growing disruptions in global trade, energy security, food supply and climate resilience require innovative leadership, adding that Nigeria possesses the resources and entrepreneurial strength needed 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,” Marland said.
Earlier, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described Lagos as Africa’s most vibrant commercial centre and Nigeria’s economic powerhouse.
She said the Invest Lagos Summit had grown 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 sustaining an investor-friendly business environment through policy reforms, strategic infrastructure development and public-private partnerships.
Lagos is open for business, partnerships and investments. The opportunities, talent, leadership and market are available to support transformative ventures and shared prosperity,” she said.
The summit attracted governors, diplomats, financiers, development institutions, corporate executives and investors from within and outside Nigeria.
Among the governors present were Alex Otti of Abia State, Hope Uzodinma of Imo State, Agbu Kefas of Taraba State and Abdullahi Sule of Nasarawa State, who participated in panel discussions where they shared ideas, challenges and success stories aimed at accelerating economic development.
