Lagos Targets 21st-century Industrial Hub Status, Woos Investors

Lagos State Governor Babajide Sanwo-Olu says his administration is working to make the state a 21st-century industrial hub in Africa.

Mr Sanwo-Olu also said that his administration was committed to making Lagos a city with which sub-national industrialisation in Africa must be measured.

The governor gave the assurance on the second day of the Invest Lagos Summit 3.0 on Tuesday.

The event had the theme: “Lagos the Business Gateway to Africa”.

The governor was represented by his Deputy, Dr Obafemi Hamzat.

He urged investors to take advantage of opportunities in Lagos and make the city a business gateway to Africa.

Mr Sanwo-Olu called on investors, development finance institutions, multilateral organisations, infrastructure developers, and industry leaders to partner with Lagos in delivering world-class infrastructure, industrial growth, and sustainable urban development.

The governor highlighted Lagos State’s vision to become Africa’s premier industrial and investment destination through strategic planning, infrastructure expansion, and private-sector collaboration.

He said that building a globally competitive city would require a strong collaboration between the government and the private sector.

According to him, the state’s role is to provide long-term planning, policy stability, and investment-friendly structures that attract sustainable financing.

He said, “Our ambition is clear: Lagos intends to be the 21st-Century industrial hub of Africa and the city against which subnational industrialisation on the continent will be measured.

“Lagos is open. Build with us. Finance with us. Partner with us. Scale with us.”

The governor said that the state government was implementing a long-term development agenda anchored in its Development Plan 2022–2052, its THEMES Plus Agenda, and its Industrial Policy 2025–2030.

He said that all the plans were designed to position the state for sustainable economic growth and global competitiveness.

Mr Sanwo-Olu added that Lagos, with a population exceeding 25 million people and a contribution of approximately 30 per cent of Nigeria’s gross domestic product, remained uniquely positioned to drive Africa’s next phase of economic growth.

The governor said that Lagos was positioning itself to maximise opportunities presented by the African Continental Free Trade Area (AfCFTA).

He described the AfCFTA as the most significant economic reform initiative on the continent in recent history.

“A city that builds a productive base, maintains high standards, and operates efficiently at scale will emerge as a leader under the AfCFTA. Lagos is determined to be that city,” he said.

Earlier, the state Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the summit as a major platform for translating government policies into bankable opportunities.

According to her, the platform can attract investment and drive sustainable economic growth.

The commissioner said the high level of participation in the summit and positive feedback from stakeholders demonstrated growing confidence in Lagos as Africa’s gateway for business and investment.

“Among the key projects being promoted are the Lagos Medical Innovation and Industrial Zone, investment opportunities within the Lekki Economic Zone, and a proposed $20 billion vehicle manufacturing plant,” she said.

She assured investors that the state would sustain engagement through its investment promotion platform and structured public-private partnership framework.

The commissioner emphasised that the success of the summit would ultimately be measured by the quality and volume of investments, partnerships and deals secured in the months ahead.

(NAN)