Lagos State Governor Babajide Sanwo-Olu has described Lagos as the most attractive entry point for investors seeking access to Africa’s growing trade and economic opportunities, saying the state offers the best route to the continent’s vast market potential.
Speaking on Monday at the opening ceremony of the Invest Lagos 3.0 summit in Lagos, Sanwo-Olu said the state was positioning itself as Africa’s business gateway and a strategic hub for global investors looking to tap into opportunities across the continent.
“We’re announcing to the world that if you want to reach Africa and benefit from its boundless trade and economic potential, then Lagos, especially, offers the most viable and appealing route,” the governor said.
Sanwo-Olu said Lagos was leveraging its position within the African Continental Free Trade Area (AfCFTA) to attract investment and strengthen its role as a commercial gateway to the continent.
“If you want to unlock the potential of the African continental free trade area, the world’s largest free trade area by a number of participating countries, and over 1.4 billion people, and it combines GDP of over 3 trillion, then Lagos presents that,” he said.
The governor said Lagos remained a leading economic centre on the continent, citing its population size, economic output and revenue growth.
“We are the most attractive duo in that free trade area, and it’s the largest and most popular sub-national economy, with over 25 million people getting a GDP that is edging closer to 300 billion,” he said.
Sanwo-Olu said the state government had continued to invest in infrastructure and economic development to improve Lagos’ competitiveness and attractiveness to investors.
“We’ve completed and we’ve had several high impacts, infrastructure in waterways, transportation, in rural infrastructure,” he said.
He highlighted major projects including the Blue Line and Red Line rail systems, as well as ongoing efforts to develop the Green Line in partnership with the federal government.
“We’ve handed over two rail projects, the blue line, the red line. We’re pushing with the federal government, the third rail which is the green line,” he said.
The governor also pointed to investments in technology, logistics and industrial development, saying Lagos was preparing for a future driven by innovation and human capital.
“Just two weeks ago, we commissioned one of the largest type of skilled data center here in Lagos,” he said.
Sanwo-Olu said the state’s vision extended beyond physical infrastructure to developing a workforce capable of meeting global demand.
“Imagine by 2050 when you see a Lagos that is a human-centric capital of the world where Microsoft can come and take over 500,000 young dynamic engineers,” he said.
The governor said Lagos was also advancing plans for the Lagos International Financial Centre (LIFC), which he described as a major step towards establishing the state as a global financial hub.
“The LIFC will be a purpose-built financial district to complete a regulatory architecture, infrastructure quality, and institutional credibility to serve as a nexus of capital inflow between Africa and the world,” he said.
The two-day Invest Lagos 3.0 summit, organised by the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment in partnership with the Commonwealth Enterprise and Investment Council, is focused on positioning Lagos as Africa’s premier destination for investment, trade, innovation, infrastructure development and economic partnerships. The event features discussions on technology and innovation, investment opportunities, urban development, global partnerships, talent, creativity, culture, energy and sustainability.
Faridah Abdulkadiri
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