Vice President Kashim Shettima has described Lagos as the gateway to Africa’s economic future, saying the state remains a leading destination for investment, innovation and global business opportunities on the continent.
Speaking on Monday at the opening of the third edition of Invest Lagos 3.0 in Victoria Island, the Vice President said Nigeria possesses the population, talent and economic potential to emerge as one of the world’s largest economies by 2050 if leadership, capital and innovation are effectively harnessed.
The conference, themed “Lagos: Business Gateway to Africa, Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership,” brought together government officials, investors, business leaders and development partners to explore investment opportunities and strategies for accelerating economic growth.
Shettima noted that Lagos has continued to benefit from visionary leadership and strategic policies that have strengthened its position as Africa’s commercial and financial hub, attracting multinational corporations and global investors.
According to him, the Federal Government remains committed to working with state governments and the private sector to improve infrastructure, deepen trade integration and create a more conducive environment for businesses to thrive.
He stressed that Africa’s future lies in its ability to harness its growing population, talent and entrepreneurial energy, adding that Lagos has demonstrated how strategic leadership and investment-friendly policies can drive sustainable growth and prosperity.
In his remarks, Lagos State Governor, Babajide Sanwo-Olu, said his administration had deliberately implemented policies and programmes aimed at supporting startups, attracting investments and creating an enabling environment for businesses to flourish.
The governor said Lagos remains open to partnerships with other states, development institutions and private investors to further unlock economic opportunities and strengthen the state’s position as Africa’s preferred investment destination.
Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, said Nigeria’s ongoing economic reforms and improved tax framework were attracting increasing global attention and creating greater opportunities for sub-national governments to drive development.
Oyedele described Lagos as the most consequential city in Africa, noting that five of the continent’s nine unicorn companies are Nigerian and headquartered in Lagos.
In a special address, Commonwealth Secretary-General, Shirley Botchwey, called for a more connected Africa driven by reliable power supply, efficient logistics systems and enhanced security.
She urged governments and private sector stakeholders to transform innovation into jobs, wealth creation and sustainable economic growth, while reaffirming the Commonwealth’s support for member countries pursuing inclusive development.
The conference also featured a Governors’ Investment Showcase, where governors from Lagos State, Abia State, Imo State, Nasarawa State and Plateau State highlighted investment opportunities and competitive advantages in their respective states.
Organisers said the success of Invest Lagos 3.0 would ultimately be measured by the volume of investment deals and partnerships secured in the months following the conference.