Lagos State Governor, Babajide Sanwo-Olu, has declared that the successful conclusion of the Invest Lagos Summit 3.0 has provided concrete evidence that Lagos remains Africa’s foremost business gateway, attracting global investors, development partners and strategic institutions.
Speaking at the closing ceremony of the two-day summit held at Eko Hotel and Suites, Victoria Island, Lagos, on Tuesday, the governor said the event moved beyond discussions about the state’s investment potential to securing tangible commitments that demonstrate growing international confidence in Lagos’ economy.
“At the beginning of this Summit, we posed a simple but profound question to ourselves and to the world: ‘Is Lagos the Business Gateway to Africa?’ As we conclude Invest Lagos Summit 3.0, the answer is no longer theoretical. The answer is yes,” Sanwo-Olu said.
According to the governor, the confidence expressed by investors, partnerships established, Memoranda of Understanding (MoUs) signed and investment commitments secured during the summit underscore Lagos’ strategic role in shaping Africa’s economic future.
He stressed that the agreements reached during the summit were designed to produce measurable economic outcomes, including investments, infrastructure projects, job creation and shared prosperity.
“These are not ceremonial documents. They are instruments of execution. They represent investments to be facilitated, projects to be delivered, jobs to be created and prosperity to be shared,” he said.
Sanwo-Olu disclosed that the state government would implement a post-summit investment conversion framework to monitor and track all commitments made during the event to ensure implementation.
“Success is not measured by the quality of discussions alone. Success is measured by implementation. We govern transparently. We deliver intentionally. And we remain accountable for results,” he added.
The governor highlighted the Governors’ Investment Showcase as one of the summit’s major attractions, noting that governors from Lagos, Abia, Imo, Nasarawa and Plateau states presented investment opportunities based on their comparative advantages while projecting Nigeria as a competitive destination for global capital.
“What we witnessed from the governors was a practical demonstration of a Nigeria that is open for business, committed to reform and determined to compete successfully for global capital,” he said.
Sanwo-Olu also identified infrastructure as a key driver of economic competitiveness, citing ongoing projects such as the Blue Rail Line, Red Rail Line, Lekki International Airport, road networks, port modernisation initiatives and energy investments.
“These are not aspirations. These are projects under implementation. They are funded. They are progressing. And they are transforming the investment landscape of our State,” he said.
The governor noted that the African Continental Free Trade Area (AfCFTA) has further strengthened Lagos’ strategic position as a gateway connecting investors to Nigeria and the broader African market of more than 1.4 billion people with a combined Gross Domestic Product exceeding $3 trillion.
“We are not merely a city. We are a gateway connecting investors to Nigeria, connecting Nigeria to Africa and connecting Africa to global markets,” he said.
Sanwo-Olu acknowledged the contributions of international partners, including the European Union, Agence Française de Développement (AFD), United Nations Development Programme (UNDP), Afreximbank, British International Investment and the Commonwealth Enterprise and Investment Council, for supporting the state’s investment drive.
He described Lagos’ creative economy as one of its strongest competitive advantages, pointing to the global success of Afrobeats, Nollywood, fashion and digital content creation as major contributors to economic growth, employment and export earnings.
“Culture is no longer simply an expression of identity. It is an engine of growth. It is an investment opportunity,” the governor said.
On energy development, Sanwo-Olu said Lagos was creating new opportunities for private sector investment through electricity market reforms, renewable energy initiatives and innovative regulatory frameworks.
“Energy security is economic security, and Lagos is taking deliberate steps to strengthen both,” he said.
The governor further stated that Lagos has built investor confidence through consistent policy implementation, infrastructure delivery and reforms since 2019, making it one of Africa’s most attractive investment destinations.
According to him, investors are increasingly drawn to jurisdictions where governments demonstrate consistency, predictability and the capacity to execute projects successfully.
“That is the Lagos proposition. To our investors and partners gathered here today, let me assure you: the government receiving your investment is one with a proven track record of delivery,” he said.
Sanwo-Olu said Lagos was also strengthening institutions through initiatives such as the Lagos International Financial Centre, investment facilitation frameworks, digital governance reforms and post-summit conversion mechanisms.
He urged future administrations to sustain the relationships, partnerships and opportunities generated by the summit, describing them as valuable assets belonging to the state.
The governor thanked the summit organisers, co-chairs, speakers, delegates, development partners, security agencies, media organisations and investors for contributing to the success of the event.
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He disclosed that visiting investors would tour strategic economic assets, including the Dangote Petroleum Refinery, Lekki Free Zone, ports, industrial clusters and manufacturing facilities to gain first-hand insight into Lagos’ economic transformation.
“What they will see is not a city waiting for transformation. They will see a city already undergoing transformation. A city building at scale. A city investing with purpose. A city preparing for the future,” he said.
Sanwo-Olu concluded by affirming that Lagos is not merely participating in Africa’s growth story but actively shaping it.
“Africa’s Business Gateway is open. And the world is welcomed,” he said.
