SANWO-OLU, HAMZAT, POLICYMAKERS LEAD DRIVE FOR INVESTMENTS IN LAGOS

SANWO-OLU, HAMZAT, POLICYMAKERS LEAD DRIVE FOR INVESTMENTS IN LAGOS

•As LASG Courts Global Capital with Fresh Opportunities in Infrastructure, Tourism at Invest Lagos 3.0

 

The Lagos State Government on Tuesday reinforced its ambition to become Africa's leading destination for investment, innovation and enterprise, unveiling new opportunities across infrastructure, tourism, creative economy and financial services.

Speaking at the second day of the Invest Lagos 3.0 Summit held at Eko Hotels and Suites in Victoria Island, Governor Babajide Sanwo-Olu, his deputy, Dr. Obafemi Hamzat, top government officials and policymakers outlined concrete plans, ongoing projects and investment-ready opportunities designed to attract local and international capital.

In his address during the closing ceremony, Governor Sanwo-Olu said the success of the summit would ultimately be measured not by the quality of conversations held but by the investments, partnerships and projects that emerge from them.

The Governor said strategic agreements signed during the summit represent practical commitments capable of facilitating investments, creating jobs and driving economic growth.

"The answer to whether Lagos is Africa's business gateway is no longer theoretical. It is reflected in the partnerships forged, commitments secured and confidence demonstrated by investors over the past two days," he said.

Governor Sanwo-Olu noted that Lagos continues to strengthen its position as a gateway connecting Nigeria to Africa and Africa to global markets through strategic investments in transportation, logistics, energy and digital infrastructure.

He highlighted major projects, including the Lagos Rail Mass Transit system, the Lekki Deep Sea Port, road expansion programmes and ongoing investments in energy infrastructure as critical foundations for long-term economic competitiveness.

Governor Sanwo-Olu also pointed to the state's strategic role within the African Continental Free Trade Area (AfCFTA), describing Lagos as uniquely positioned to benefit from a market of more than 1.4 billion people across the continent.

The Governor further reaffirmed plans to establish the Lagos International Financial Centre (LIFC), describing it as a major step toward positioning Lagos as a global hub for finance, trade and investment.

Speaking earlier, Lagos State Deputy Governor, Dr. Obafemi Hamzat, identified policy continuity, institutional stability and long-term planning as key factors driving investor confidence in Lagos.

He said Lagos State's development model is built around creating a sustainable environment where people can comfortably live, work, invest and raise families.

Dr. Hamzat explained that Lagos remains attractive to investors because of the consistency of its governance systems and policies, which provide certainty beyond political transitions.

"No city can fund all its infrastructure needs alone. We require local and international investors, but attracting that investment depends on maintaining stable processes and predictable policies," he said.

Dr. Hamzat also stressed the importance of collaboration among state governments, noting that economic growth in Lagos is closely tied to the development of other states and the overall progress of Nigeria.

Also speaking during a sector-focused session, Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, unveiled a broad portfolio of investment opportunities across tourism, hospitality, entertainment, culture and the creative economy.

She described the sectors as powerful economic drivers capable of generating employment, attracting foreign direct investment and stimulating urban regeneration.

Benson-Awoyinka said Lagos is strategically positioned to unlock the immense potential of its coastline through destination resorts, eco-tourism projects, hospitality developments, marina facilities and waterfront tourism infrastructure.

She highlighted the successes of Africa's first E1 Electric Boat Race hosted in Lagos and ongoing waterfront developments as evidence of the commercial viability of the state's coastal economy.

The commissioner also disclosed that Lagos State Government is revitalising key heritage assets, including the Black Heritage Museum, the John Randle Centre for Yoruba Culture and History and the historic Point of No Return in Badagry, to create globally competitive tourism destinations.

She added that Lagos is investing in tourism transportation systems, hospitality infrastructure, workforce development and creative industry projects, including the proposed Lagos Film City, aimed at strengthening the state's position as Africa's cultural and entertainment capital.

Speaking during closing remarks, the Deputy Chief of Staff to the Governor, Mr. Sam Egube, said the summit was conceived as a platform to bring together leaders, investors, development partners and innovators from across the world to explore opportunities and build lasting partnerships.

Egube noted that Lagos' emergence as a hub for investment, technology and innovation is the result of deliberate planning and sustained efforts by successive administrations.

He said the State's commitment to transparency, policy consistency and investor confidence has helped to create an environment where businesses can thrive and investments can deliver long-term value.

Egube said the conversations held during the summit must now translate into concrete outcomes, stronger partnerships and sustainable economic growth.

Stakeholders expressed optimism that the engagements, agreements and investment opportunities showcased during the two-day Invest Lagos 3.0 summit would accelerate Lagos' journey toward becoming Africa's preferred destination for business, tourism, innovation and enterprise.

 

SIGNED

GBOYEGA AKOSILE

SPECIAL ADVISER - MEDIA AND PUBLICITY

JUNE 9, 2026