By Imisioluwa Afunmiso
Lagos State Governor, Babajide Sanwo-Olu, on Monday declared that Lagos remains the most viable entry point for investors seeking access to Africa’s vast market opportunities, describing the state as the continent’s premier business and investment hub.
Speaking at the opening ceremony of the Invest Lagos 3.0 Summit held at the Eko Hotels and Suites, Victoria Island, the governor noted that Lagos is strategically positioned to leverage the African Continental Free Trade Area (AfCFTA) as the true business gateway to Africa.
The two-day summit, themed “Lagos: The Business Gateway to Africa,” was organized in partnership with the Commonwealth Enterprise and Investment Council (CWEIC), drawing investors, development finance institutions, government officials, and business leaders from around the globe.
Sanwo-Olu highlighted Lagos’ impressive economic credentials, noting that the state boasts a population of over 23 million people, a GDP estimated at $259 billion based on purchasing power parity, and a remarkably low debt-to-GDP ratio of 4.11 percent.
According to him, Lagos accounts for roughly 70 percent of Nigeria’s maritime activities and remains home to the country’s most vibrant startup ecosystem and major financial institutions.
He cited several signature infrastructure projects undertaken by his administration to support this growth, including the operational Blue and Red Rail Lines, the Lekki Deep Sea Port, the ongoing construction of the Fourth Mainland Bridge, and advanced plans for the Lekki-Epe International Airport.
He pointed to strategic investments in agriculture, digital infrastructure, and industrial development as the key drivers of the state’s economic trajectory.
The governor noted that private sector investments continue to thrive in the state, referencing the Dangote Refinery and Dangote Fertilizer Plant as monumental projects driving Nigeria’s industrial transformation.
He also disclosed plans for the Lagos International Financial Centre (LIFC), a proposed financial district aimed at positioning the state as a major hub for capital flight and revenue generation between Africa and global markets.
The governor emphasized that the summit would focus on securing tangible investments through a dedicated matchmaking approach designed to connect project sponsors, financiers, development partners, and government representatives across critical sectors such as infrastructure, aviation, energy, healthcare, digital technology, and urban development.
“We will judge success not by the speeches made here or the commitments announced, but by the actual investments that create jobs and transform lives,” Sanwo-Olu said.
He also acknowledged the vital support of development finance institutions, including British International Investment (BII), the Africa Finance Corporation (AFC), and Afreximbank, describing their role as critical in mobilizing large-scale capital.
He expressed confidence that the summit would solidify the position of Lagos as a leading investment destination in Africa while deepening partnerships between the government, the private sector, and international stakeholders.