In a high-stakes bid to position Nigeria’s economic hub as the premier destination for global capital, the Governor of Lagos State, Mr. Babajide Sanwo-Olu, has called on the 56 member states of the Commonwealth to pivot their investment strategies toward Africa.
Speaking on Monday as the Keynote Speaker at the Commonwealth Trade and Investment Summit held at Mansion House, London, the Governor emphasized that the Commonwealth Advantage is most potent when harnessed within the continent’s burgeoning markets. Addressing a prestigious audience of global investors, heads of government, and business leaders, Sanwo-Olu framed Lagos as the essential gateway for those seeking stable and high-growth partnerships.
Africa: The Engine of the Commonwealth
Governor Sanwo-Olu highlighted a shifting global demographic, noting that by 2050, one in four people on Earth will be African. He argued that for the Commonwealth to remain a relevant economic engine rather than a “sentimental compact,” it must integrate African markets into its core trade strategy.
“The Commonwealth’s advantage will only be fully unlocked when we treat emerging markets not as recipients of investment but as partners in shaping the terms of it,” Sanwo-Olu stated. “Lagos is investing in its port, its airport, its rail corridors, and its technology infrastructure—because we understand that to attract global capital, you must first build the foundations that make capital feel at home.”
Transforming the Megacity Through T.H.E.M.E.S.+
Detailing the progress made under his administration’s T.H.E.M.E.S.+ developmental agenda, the Governor pointed to the successful launch of the Blue and Red Line rail projects—the first metro system of its kind in West Africa. He reassured the international community that Lagos is no longer just a “stand-alone economy” that ranks among the top five in sub-Saharan Africa, but a 21st-century megacity digitizing its land administration and revenue systems to ensure ease of doing business.
The Governor emphasized that his administration is actively “courting, structuring, and sustaining public-private partnerships” to drive projects in healthcare, education, and social inclusion. He noted that the state is currently preparing to commission one of the continent’s largest children’s hospitals, signaling a robust commitment to social infrastructure alongside industrial growth.
A Strategic Invitation: Invest in Lagos 3.0
In a major announcement, Governor Sanwo-Olu invited the global business community to the upcoming “Invest in Lagos 3.0” summit. Scheduled for June 8 and 9 at the Eko Hotels and Suites, Victoria Island, the event is organized in strategic partnership with the Commonwealth Enterprise and Investment Council (CWEIC).
“Invest in Lagos is not a conference; it is a transaction platform,” the Governor clarified. He explained that the third edition of the summit aims to present specific, bankable opportunities across all major sectors, firmly situating Lagos within the broader architecture of international trade.
Mobilizing Capital for Emerging Markets
The Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, further echoed the Governor’s sentiments during a plenary session focused on capital mobilization. She detailed the practical steps Lagos is taking to provide an enabling policy environment, stressing that the state is ready to meet the specific requirements of the global investment community.
The summit was attended by prominent figures including the Secretary-General of the Commonwealth, Shirley Botchwey; the Chairman of CWEIC, Lord Marland; and the Lady Mayor of the City of London, Dame Susan Langley, all of whom acknowledged the strategic importance of the Nigerian market in the current era of “retreating globalization.”
Share this
