• Governor says he wants to be remembered for improving residents’ lives based on their individual needs
Lagos State Governor, Babajide Sanwo-Olu, has reaffirmed the state’s position as Nigeria’s commercial hub, expressing his administration’s commitment to growing the economy to nearly $1 trillion by 2052.
Sanwo-Olu disclosed this on Wednesday at the Lagos Executive Business Breakfast Meeting organised by the Nigerian-British Chamber of Commerce (NBCC) in Lekki, Lagos, under the theme, “The Future of Lagos: Business, Investment and Global Competitiveness.”
He said the Lagos State Development Plan 2052 provides a long-term framework for sustainable economic growth, investment attraction and the transformation of Lagos into a globally competitive economic and financial centre.
According to him, the plan comprises 447 initiatives across 21 strategic sectors, built around four pillars: a thriving economy, a human-centred city, modern infrastructure and effective governance.
The governor called for sustained investment in infrastructure, technology, human capital and business-friendly policies, noting that improved port efficiency, technological innovation and increased investment had boosted manufacturing, created jobs and strengthened economic activities.
Sanwo-Olu said his administration, since assuming office on May 29, 2019, had created opportunities and improved the lives of millions of residents through the delivery of democratic dividends.
He added that he hoped to be remembered as a governor who positively impacted Lagosians according to their individual needs, particularly in transportation, healthcare, education, economic empowerment, security and infrastructure.
Highlighting his administration’s achievements, the governor cited the development of the Blue and Red rail lines, improvements in electricity regulation, expanded digital connectivity and investments in healthcare and education as key drivers of the state’s long-term competitiveness.
He also identified the Lekki Deep Sea Port, industrial developments and the growing technology and creative sectors as major contributors to economic growth and regional trade.
The governor said the state was strengthening support for small and medium-sized enterprises through financing and grants, while promoting innovation and developing a skilled workforce to meet the demands of emerging industries.
Sanwo-Olu further disclosed that Lagos State’s budget had increased from about ₦700 billion in 2019 to ₦4.2 trillion in 2026, reflecting rising investment needs and the importance of improving revenue generation to sustain development.
He reiterated his administration’s commitment to building an economy capable of attracting global investment, creating employment opportunities and improving residents’ quality of life.
The governor urged members of the NBCC to view Lagos not merely as a large consumer market but as a hub for production, innovation, regional trade and international investment.
In his remarks, the President and Chairman of the NBCC, Abimbola Olashore, called for stronger collaboration among government, businesses and investors to improve the business environment, attract investment and enhance Lagos’ global competitiveness.
Olashore also reaffirmed the chamber’s commitment to strengthening trade and investment relations between Nigeria and the United Kingdom.
