Shettima, Sanwo-Olu, and Oyedele Showcase Lagos as Premier Destination for Investors

Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, and Minister of Finance Taiwo Oyedele have collectively emphasized Lagos' status as a premier investment destination, underscoring its robust economic prospects and favorable business climate.

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This assertion was made at the Invest Lagos Summit (3.0), which commenced on Monday in Lagos, bringing together government officials, investors, development partners, and business leaders to explore opportunities across various sectors of the economy.

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Shettima noted that Lagos is increasingly establishing itself as Africa's gateway to global trade and capital, with the continent seeking to attract a larger share of international investment, and he described Lagos as a major hub for business expansion and long-term economic growth.

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He also emphasized that Nigeria possesses the demographic strength and entrepreneurial capacity to become one of the world's largest economies by 2050, provided that reforms are sustained, and reaffirmed the Federal Government's commitment to collaborating with states and the private sector to enhance infrastructure, trade, and the ease of doing business.

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Governor Sanwo-Olu stated that Lagos remains Africa's leading investment gateway, offering strong opportunities in trade, infrastructure, technology, and economic expansion, and he highlighted the state's strategic position to benefit from the African Continental Free Trade Area (AfCFTA) and global markets, given its population of over 25 million people.

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Sanwo-Olu also mentioned that ongoing investments in transport, digital infrastructure, agriculture, and human capital are bolstering the state's competitiveness, while major projects such as the Blue Line, Red Line, and the proposed Green Line rail projects are enhancing connectivity and productivity.

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He further emphasized that Lagos is receiving growing support from development finance institutions and private investors, stressing that partnerships are crucial to long-term economic transformation, and he measured the summit's success by the investments attracted, jobs created, and improved livelihoods.

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Oyedele, in his remarks, highlighted ongoing fiscal and tax reforms aimed at enhancing Nigeria's investment climate and boosting investor confidence, which are critical to the country's economic development.

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

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Ambrose-Medebem reaffirmed the state's commitment to sustaining an investor-friendly environment through reforms, partnerships, and infrastructure development, and she declared that "Lagos is open for business, partnerships, and investments".

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The summit was attended by several governors, including Abia State Governor Alex Otti, Imo State Governor Hope Uzodinma, Taraba State Governor Agbu Kefas, and Nasarawa State Governor Abdullahi Sule.