Lagos State Governor Babajide Sanwo-Olu has described Nigeria’s commercial capital as an investors’ haven, citing its vast population, economic potential, strategic infrastructure, and progressive policies.
Speaking to a global audience at Harvard Business School during Professor Hakeem Belo-Osagie’s course titled “Understanding Africa: Business, Entrepreneurship, Political Economy and the Complexities of a Continent”, Sanwo-Olu delivered a presentation themed “Building the Future: Lagos State Infrastructure-led Transformation.”
“Lagos is a place where people arrive with nothing and become somebody. With a GDP of $259 billion, a population of 25 million, and four seaports, we are a business and commercial powerhouse,” he told the audience of students from around the world.
Bold Vision and Tangible Strides
Sanwo-Olu highlighted the state’s transformation agenda across critical sectors, including transportation, housing, health, innovation, and industrialization.
The Blue Line Rail, Africa’s first intra-city rail system, has transported over 2 million passengers, with the Red Line now operational.
A new airport is planned along the Lekki-Epe corridor. Construction is also set to begin on the Green Line, connecting the axis to Lagos Island.
Over 1,000 roads have been constructed or rehabilitated, and more than 3,000 housing units delivered to address urban housing needs.
In healthcare, the governor announced the development of a General Hospital, Mental Health and Rehabilitation Centre, and the new Massey Street Children’s Hospital, set to become the largest paediatric facility in Sub-Saharan Africa.
A Hub for Innovation and Education
Sanwo-Olu said Lagos is building a robust tech talent pipeline, aligned with a 30-year Development Plan aimed at positioning the state as a human-centric digital economy. With over 60% of its 25 million residents being youth, Lagos is ripe for digital innovation.
“If Microsoft or Amazon is hiring 10,000 developers, Lagos should be their first stop,” he said, pointing to the state’s investment in education and the creation of two new universities, with a third — a dedicated University of Medical Sciences — in the pipeline.
Tourism, Entertainment, and Creative Economy
He spoke passionately about Lagos’ vibrant arts, fashion, and film industry, adding that a Lagos-based film has just been selected for the Cannes Film Festival.
“We’re developing a tourism calendar that includes fashion shows, theatre, and cultural events to attract global audiences,” he said.
Energy Reform and Investment Opportunities
During a lively Q&A session, the Governor addressed questions on Nigeria’s power sector, affirming that recent reforms have empowered states to handle generation, distribution, and transmission.
“Lagos can now issue licences and concession power zones. The system has been unbundled — this is a golden opportunity for investors,” he assured.
In closing, Sanwo-Olu invited international investors to look beyond saturated markets and consider Lagos:
“Some countries have built all the infrastructure they need. We are still building — Lagos is the place to invest.”
His presentation was met with applause, beginning with a captivating five-minute video showcasing Lagos’ skyline, culture, and economic potential.