Shettima, Sanwo-Olu, Oyedele pitch Lagos as top investment hub

By Olasunkanmi Akoni

Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, and Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele have described Lagos as a prime destination for investors, highlighting its economic potential and business environment.

They spoke at the opening of the third edition of the Invest Lagos Summit (3.0) held on Monday in Lagos, where government officials, investors, development partners and business leaders gathered to explore opportunities across key sectors of the economy.

Shettima said Lagos is increasingly positioning itself as Africa’s gateway to global capital and trade, noting that the continent is working to attract a larger share of international investment.

He described Lagos as a major hub for business expansion, innovation and long-term economic growth, adding that Nigeria has the demographic strength and entrepreneurial capacity to become one of the world’s largest economies by 2050 if reforms are sustained.

The Vice President also reaffirmed the Federal Government’s commitment to working with states and the private sector to improve infrastructure, expand trade and enhance the ease of doing business.

Governor Sanwo-Olu said Lagos remains Africa’s leading investment gateway, with strong opportunities in trade, infrastructure, technology and economic expansion.

He noted that with a population of over 25 million people, Lagos is well positioned to benefit from the African Continental Free Trade Area (AfCFTA) and global markets.

According to him, ongoing investments in transport, digital infrastructure, agriculture and human capital are strengthening the state’s competitiveness, while major projects such as the Blue Line, Red Line and the proposed Green Line rail projects are improving connectivity and productivity.

Sanwo-Olu added that Lagos is receiving growing support from development finance institutions and private investors, stressing that partnerships remain key to long-term economic transformation.

He said the success of the summit would be measured by investments attracted, jobs created and improved livelihoods.

Oyedele, in his remarks, highlighted ongoing fiscal and tax reforms aimed at improving Nigeria’s investment climate and boosting investor confidence.

Earlier, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described Lagos as Africa’s most dynamic commercial hub and Nigeria’s economic powerhouse.

She said the summit has become a major sub-national investment platform connecting investors with opportunities in infrastructure, healthcare, technology, manufacturing, agriculture and logistics.

She reaffirmed the state’s commitment to sustaining an investor-friendly environment through reforms, partnerships and infrastructure development.

“Lagos is open for business, partnerships and investments,” she said.

Governors present at the summit included Abia State Governor Alex Otti, Imo State Governor Hope Uzodinma, Taraba State Governor Agbu Kefas, and Nasarawa State Governor Abdullahi Sule.

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