Invest Lagos 3.0: Lagos is Africa’s investment gateway – Gov. Sanwo-Olu
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, saying the state is the continent’s greatest business and investment hub.
Speaking at the opening ceremony of the Invest Lagos 3.0 Summit held at Eko Hotels and Suites, Victoria Island, the governor said Lagos is strategically positioned to benefit from the African Continental Free Trade Area (AfCFTA), describing the state as the “business gateway to Africa.”
The two-day summit, themed “Lagos: The Business Gateway to Africa,” was organised in partnership with the Commonwealth Enterprise and Investment Council (CWEIC) and attracted investors, development finance institutions, government officials and business leaders from across the world.
Sanwo-Olu however highlighted Lagos 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 debt-to-GDP ratio of 4.11 per cent.
According to him, Lagos accounts for about 70 per cent of Nigeria’s sea activities and remains home to the country’s most active startup ecosystem and major financial institutions citing several infrastructure projects undertaken by his administration, including the operational Blue and Red Rail Lines, the Lekki Deep Sea Port, ongoing construction of the Fourth Mainland Bridge, and plans for the Lekki-Epe International Airport.
He further pointed to investments in agriculture, digital infrastructure and industrial development as key drivers of the state’s economic growth noting that private sector investments have continued to thrive in Lagos, referencing the Dangote Refinery and Dangote Fertiliser Plant as major projects contributing to Nigeria’s industrial transformation.
He also disclosed that Lagos have plans for the Lagos International Financial Centre (LIFC), a proposed financial district aimed at positioning the state as a major centre for capital revenue between Africa and global markets.
The governor said the summit would focus on securing tangible investments through dedicated approach designed to connect project sponsors, financiers, development partners and government representatives across critical sectors including 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 investments that create jobs and transform lives,” he said.
Sanwo-Olu also acknowledged the support of development finance institutions, including the British International Investment (BII), Africa Finance Corporation (AFC) and Afreximbank, describing their role as critical in mobilising capital for large-scale projects.
He expressed confidence that the summit would strengthen Lagos position as a leading destination for investment in Africa while deepening partnerships between government, the private sector and international stakeholders.