President Bola Tinubu on Monday projected Lagos as Africa’s leading destination for business, innovation and economic growth, describing the state as the gateway to the continent’s economic future and a strategic hub for global investments and trade.
The President made the remarks through Vice President Kashim Shettima at the opening of the third edition of the Invest Lagos Summit, tagged “Invest Lagos 3.0,” held at Eko Hotels and Suites, Victoria Island, Lagos.
The summit, themed “Lagos: Business Gateway to Africa, Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership,” was organised by the Lagos State Government in partnership with the Commonwealth Enterprise and Investment Council.
The event brought together government officials, policymakers, investors, business leaders and development partners, with the Federal Government and the governors of Lagos, Abia, Imo, Nasarawa and Plateau states showcasing investment opportunities across key sectors of the economy.
Tinubu said Lagos has maintained its position as Africa’s commercial nerve centre through deliberate policies, strong institutions and a business-friendly environment that continues to attract multinational corporations and foreign investments.
He noted that Nigeria possesses the demographic strength, entrepreneurial talent and economic potential to rank among the world’s largest economies by 2050 if it sustains investments in innovation, infrastructure and leadership.
The President also reaffirmed the Federal Government’s commitment to working with states and the private sector to improve infrastructure, expand trade opportunities and strengthen the ease of doing business.
In his address, Lagos State Governor Babajide Sanwo-Olu said his administration has consistently implemented policies aimed at attracting investments, supporting startups and creating an enabling environment for businesses to thrive.
He said Lagos remains committed to building a resilient economy capable of attracting both local and international investors while creating jobs and opportunities for residents.
Sanwo-Olu identified transportation, energy, technology, agriculture and agro-processing as critical sectors requiring increased private-sector investment. He stressed that improved mobility through rail and water transport would unlock significant economic potential, reduce travel time and enhance productivity.
The governor also highlighted Lagos’ growing technology ecosystem, noting that the state is expanding fibre connectivity and digital infrastructure to attract hyperscale data centre investments.
According to him, agriculture and agro-processing remain major investment frontiers due to Lagos’ large consumer market, adding that the state is developing a central logistics park and seeking additional investments to strengthen food processing and distribution.
During the Governors’ Investment Showcase, the governors of Abia, Imo, Nasarawa and Plateau states presented investment opportunities in their respective states and assured investors of conducive business environments, attractive returns and incentives.
Abia State Governor Alex Otti said his administration is redesigning critical business clusters, particularly in Aba, while improving power supply to support industrial growth.
Imo State Governor Hope Uzodinma said ongoing infrastructure development and economic reforms are positioning the state as an attractive destination for local and foreign investment.
Nasarawa State Governor Abdullahi Sule highlighted the state’s vast agricultural potential and strategic proximity to Abuja as key advantages for investors.
Plateau State Governor Caleb Mutfwang also urged investors to explore opportunities in agriculture, tourism and infrastructure development within the state.
Speaking at the summit, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele assured investors that ongoing fiscal and tax reforms are improving Nigeria’s investment climate and creating new opportunities for economic growth.
He said the Federal Government remains committed to providing the policy framework needed to achieve its vision of a trillion-dollar economy.
Other speakers at the event included Lagos State Commissioner for Commerce, Cooperatives, Trade, Investment and Industry, Folashade Ambrose-Medebem; Commonwealth Secretary-General Shirley Botchwey; and Chairman of the Commonwealth Enterprise and Investment Council, Lord Marland, all of whom called for stronger collaboration to drive investment, innovation and sustainable economic development across Africa.