Invest Lagos 3.0: Shettima, Sanwo-Olu market Lagos as Africa’s gateway to global investment

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‎Vice President Kashim Shettima and Lagos State Governor Babajide Sanwo-Olu has projected Lagos as Africa’s foremost investment destination, describing the state as the continent’s gateway to global wealth, trade and economic opportunities.
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‎They spoke at the opening ceremony of Invest Lagos 3.0 held at Eko Hotels and Suites, Victoria Island, where policymakers, investors, development finance institutions and business leaders gathered to explore investment opportunities across key sectors of the economy.
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‎Speaking on the theme: “Lagos: The Business Gateway to Africa, Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership,” Shettima said Lagos was increasingly emerging as Africa’s gateway to global wealth and a strategic hub for international investors seeking access to the continent’s expanding markets.
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‎According to him, Nigeria possesses the demographic strength, entrepreneurial talent and economic potential to rank among the world’s largest economies by 2050, provided the country continues to invest in innovation, infrastructure and effective leadership.
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‎He noted that Lagos had sustained 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.
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‎The Vice President also reaffirmed the Federal Government’s commitment to collaborating with states and the private sector to improve infrastructure, expand trade opportunities and strengthen the ease of doing business across the country.
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‎In his keynote address, Governor Sanwo-Olu said Lagos had evolved significantly since the inaugural edition of the summit in 2024 and was strategically positioned to leverage opportunities presented by the African Continental Free Trade Area (AfCFTA).
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‎He noted that with a population exceeding 23 million and a Gross Domestic Product (GDP) estimated at about $259 billion measured by purchasing power parity, Lagos remains the largest sub-national economy within the AfCFTA bloc.
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‎”We are announcing to the world that if you want to reach Africa and benefit from its boundless market and economic potential, Lagos offers the most viable and appealing route,” the governor said.
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‎Sanwo-Olu highlighted Lagos’ economic credentials, noting that the state handles about 70 per cent of Nigeria’s sea freight activities, hosts the country’s leading financial institutions and boasts one of Africa’s most vibrant startup ecosystems.
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‎The governor outlined major infrastructure projects undertaken by his administration, including the Blue and Red Rail Lines, the operationalisation of the Lekki Deep Sea Port, the ongoing construction of the Fourth Mainland Bridge and plans for the Lekki-Epe International Airport.
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‎He added that investments in agriculture, technology and logistics were transforming Lagos into a regional hub for food security and digital innovation.
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‎Sanwo-Olu pointed to the emergence of globally recognised technology firms such as Flutterwave, Moniepoint, Andela and Interswitch as evidence of Lagos’ growing influence in Africa’s digital economy.
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‎He also disclosed that the Lagos International Financial Centre (LIFC) project was progressing steadily and would serve as a major financial gateway connecting Africa to global capital markets.
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‎The governor further revealed that Lagos had secured hosting rights for the Creative Africa Nexus (CANEX) 2026 and the Intra-African Trade Fair (IATF) 2027, describing both developments as evidence of growing international confidence in the state.
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‎According to him, the summit’s deal rooms were deliberately designed to facilitate investment decisions and mobilise financing for critical projects.
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‎”The singular goal is to spotlight and mobilise financing for the most consequential investment decisions across the public and private sectors that Nigeria has ever seen,” he said.
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‎Sanwo-Olu added that the success of the summit would be measured not by attendance figures or speeches, but by investments capable of creating jobs and transforming lives.
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‎Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said ongoing fiscal and tax reforms were improving Nigeria’s investment climate, boosting investor confidence and creating new opportunities for economic growth across states.
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‎Also speaking, Commonwealth Secretary-General Shirley Botchwey called for stronger regional cooperation through improved power supply, efficient logistics systems and enhanced security across Africa.
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‎She urged African leaders to harness innovation and human capital as drivers of job creation and sustainable development.
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‎Delivering the welcome address, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the summit as a strong vote of confidence in Lagos and its economic potential.
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‎She said delegates, investors, business leaders and development partners from Nigeria, Africa, the Commonwealth and other parts of the world had gathered to explore opportunities in Africa’s largest commercial city.
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‎According to her, Lagos remains Nigeria’s economic powerhouse and one of the world’s fastest-growing megacities, accounting for a significant share of national GDP while attracting the highest volume of domestic and foreign investments.
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‎”Lagos is open for business, open for partnerships and open for investments. The opportunities are here, the market is here, the talent is here and the leadership is here,” she said.
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‎Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), Lord Marland, described Nigeria as a country with immense entrepreneurial potential and a critical player in Africa’s economic future.
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‎He commended ongoing economic reforms and expressed optimism about Nigeria’s investment climate, noting that Lagos was well positioned to attract greater investment flows from across the Commonwealth and beyond.
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‎A major highlight of the summit was the Governors’ Investment Showcase, where governors from Lagos, Abia, Imo, Nasarawa and Plateau states presented investment opportunities in key sectors of their economies.
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‎The two-day summit was convened by the Lagos State Government in partnership with the Commonwealth Enterprise and Investment Council (CWEIC) to deepen investment partnerships and position Lagos as the preferred gateway to Africa’s next phase of economic growth.