This article was produced with the support of Invest in Lagos 3.0
Lagos State Governor, Babajide Sanwo-Olu, on Monday reaffirmed the state’s position as Africa’s foremost investment destination and strategic gateway to the continent’s vast market and economic potential.
Speaking at the opening session of Invest Lagos 3.0, themed ‘Lagos: Business Gateway to Africa’, Sanwo-Olu highlighted emerging opportunities across infrastructure, technology, finance, agriculture and trade, while urging global investors to leverage Lagos as the entry point to Africa’s $3 trillion AfCFTA market.
He stressed that the summit, organised in partnership with the Commonwealth Enterprise and Investment Council (CWEIC), has “come a long way, from its humble beginnings in 2024 with the inaugural edition.
He said his administration was “positioning Lagos on the continental and global stage and reaffirming our belief in its unique role as the primary gateway to a continent widely described as the world’s fastest-growing frontier and home to one of the youngest and most dynamic workforces in the world.”
Commenting further, Governor Sanwo-Olu said “If you want to unlock the opportunities presented by the African Continental Free Trade Area (AfCFTA) – the world’s largest free trade area by the number of participating countries, with over 1.4 billion people and a combined GDP exceeding $3 trillion – then Lagos is the natural gateway. We are the most attractive destination within that free trade area and the largest sub-national economy in Africa. With a population of over 25 million people and a Gross Domestic Product (GDP) approaching $300 billion, Lagos continues to record significant growth in internally generated revenue. Our economy has consistently expanded year after year, growing at approximately five percent, a rate that exceeds many global benchmarks.”
Reflecting on the progress made in Lagos under his sway, Sanwu-Olu said: “I have had the honour of governing this great city for the past seven years, supported by a brilliant, energetic, and dedicated team. Throughout these years, we have been driven by a clear vision: to leave Lagos better than we met it. Guided by our administration’s THEMES+ Agenda, we have ensured that no part of the state’s landscape has been left untouched by development.”
The Governor expressed optimism that Lagos has a bright future, telling his audience to, “close your eyes and imagine a city that serves as a global hub for human capital – a city where technology companies, engineers, creatives, innovators, and entrepreneurs converge; a city that supplies the talent powering the world’s digital economy. That is the Lagos we are building.”
He added also that “we have also established the Lagos State Digital Hub, which is already operational and moving into its second phase due to overwhelming demand and rapid utilisation of the first phase.”
He also highlighted investments in other areas like “the Lagos Food Systems initiative” which he said, “represents one of the largest agricultural investments in Southern Nigeria because we recognise food security as an essential component of national security.”
Highlighting the emergence of Lagos as a tech hub, the governor told his audience that “just weeks ago, we commissioned one of the largest hyperscale data centres in the region. We have nurtured technology unicorns and globally recognised innovators. We continue to build an ecosystem that enables businesses to scale and thrive. Our story is not merely one of growth; it is one of transformation. The world is paying serious attention to Lagos. In 2025, Lagos became the first African city to host the E1 World Championship. We will also host the Creative Africa Nexus (CANEX) event from November 3 to 5 this year. Furthermore, Lagos will host the Intra-African Trade Fair (IATF) in 2027, Africa’s premier trade and investment gathering.”
In her welcome address, the Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, Folashade Bada Ambrose-Medebem, described Lagos as a city that never stands still; Africa’s most dynamic commercial hub, Nigeria’s economic powerhouse, and one of the fastest-growing megacities on earth.
She said: “In Lagos, ideas become enterprises, enterprises become industries, and industries create prosperity. Under the leadership of Mr. Governor, Lagos continues to expand its horizons. We were ranked first in ease of doing business among Nigeria’s sub-national governments…Lagos continues to build a globally competitive economy.”
Speaking specifically to the summit, Folashade Bada Ambrose-Medebem told her listeners that “the next three days are designed for action. We will move from conversation to commitment, from intention to investment, and from ideas to implementation. You will discover investment-ready opportunities across infrastructure, energy, healthcare, manufacturing, technology, the creative economy, logistics, real estate, agriculture and food systems, and industrial development.”
She also called on the participants to look out for “our exhibition pavilion, strategic dialogues, and Deal Room 2.0, we are creating real pathways to partnerships that will shape the future of Lagos and power Africa’s economic renaissance.”
Concluding she said “if you take only one message away from this summit, let it be this: Lagos is open for business; Lagos is open for investment; And Lagos is a city that keeps its promises. The opportunities are here. The market is here. The talent is here. The leadership is here. When these strengths come together, we create prosperity that extends far beyond our borders.”