Lagos State has intensified efforts to cement its status as Africa’s leading investment hub, attracting top government officials, global investors and business leaders to the third edition of the Invest Lagos Summit.
The summit, themed “Lagos: Business Gateway to Africa,” brought together delegates from Africa, Europe, Asia and the Commonwealth to explore investment opportunities, strengthen partnerships and drive economic growth through private-sector participation.
Among dignitaries at the event were Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, Minister of Aviation and Aerospace Development Festus Keyamo, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, state governors, development finance institutions and international investors.
Declaring the summit open, Vice President Shettima described Lagos as the economic heartbeat of Africa and one of the continent’s most influential commercial centres. He noted that the state has produced and nurtured some of Africa’s most successful entrepreneurs, highlighting its role as a catalyst for wealth creation and industrial development.
According to the Vice President, Lagos has evolved from a city once burdened by major urban challenges into a thriving hub for commerce, technology and innovation. He credited successive administrations for sustaining policies that have transformed the state into a model of economic growth and governance.
Shettima also defended the Federal Government’s economic reforms, including the removal of fuel subsidies and foreign exchange restructuring. While acknowledging the challenges associated with the reforms, he said they were necessary to restore investor confidence, strengthen fiscal stability and create a foundation for long-term economic growth.
“We have taken difficult decisions because we understand that the economy of our dream cannot be built on illusions. It must be built on productivity, discipline and competitiveness,” he said, assuring investors of Nigeria’s commitment to a transparent and business-friendly environment.
In his keynote address, Governor Sanwo-Olu presented Lagos as a rapidly transforming city preparing for a future powered by technology, innovation and global competitiveness.
He noted that Invest Lagos, launched in 2024, has grown into a globally recognised platform connecting investors to opportunities across critical sectors of the economy.
The governor highlighted Lagos’ population of over 25 million residents and its position as Africa’s largest sub-national economy, stressing that the state remains strategically placed to benefit from opportunities under the African Continental Free Trade Area (AfCFTA).
Sanwo-Olu pointed to major infrastructure projects delivered under his administration, including the Blue and Red Rail Lines, expanded road networks, improved waterways transportation and collaboration with the Federal Government on the proposed Green Rail Line.
He also cited the Lekki Deep Sea Port as a landmark project strengthening Lagos’ role as a major logistics and maritime hub.
The governor further highlighted investments in agriculture through the Lagos Food Logistics Park, described as the largest food logistics hub in sub-Saharan Africa, as well as the growth of the state’s technology ecosystem.
According to him, Lagos is home to leading African technology firms such as Flutterwave, Moniepoint, Andela and Interswitch, while also hosting major data centres and submarine cable landing stations that support digital innovation.
Sanwo-Olu disclosed that the state is developing the Lagos International Financial Centre to position Lagos as a major gateway connecting African markets with global capital.
He stressed that the true success of the summit would be measured by investments that translate into jobs, infrastructure development and improved living standards.
Minister of Aviation and Aerospace Development Festus Keyamo revealed that the Federal Government had approved $500 million for the development of Lagos Airport, noting that about 67 per cent of inbound international air traffic into Nigeria passes through Lagos.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described Lagos as Africa’s most dynamic commercial centre and Nigeria’s economic powerhouse.
She said the state continues to attract significant foreign and domestic investments while maintaining leadership in technology, finance, entertainment, entrepreneurship and innovation.
According to her, Invest Lagos has evolved over the past three years into one of Africa’s most influential sub-national investment platforms, providing investors with direct access to opportunities across multiple sectors.
The summit also received strong international endorsement from the Commonwealth Enterprise and Investment Council (CWEIC). Its Chairman, Lord Marland, disclosed that nearly 300 international investors and business executives attended the event, far exceeding the initial target of 150 delegates.
He said investors are increasingly turning their attention to Nigeria because of its economic potential, entrepreneurial culture and improving business environment.
Representatives of major continental institutions also reaffirmed confidence in Lagos. African Export-Import Bank (Afreximbank) representative Dr. Genmo Zanamwe disclosed that the bank has committed over $83 billion to projects in Nigeria, with a significant share supporting strategic investments in Lagos and other key economic centres.
Secretary-General of the AfCFTA Secretariat, Wamkele Mene, described Lagos as one of Africa’s most strategically positioned cities and a critical gateway to the continental market of more than 1.4 billion people.
He noted that intra-African trade reached approximately $230 billion in 2026 and said Lagos remains well positioned to benefit from the growing integration of African economies.
The summit attracted governors, diplomats, captains of industry, development finance institutions and international investors, who participated in sector-focused discussions covering infrastructure, energy, healthcare, manufacturing, technology, agriculture, logistics, real estate and industrial development.
Participants expressed optimism that stronger partnerships and increased investments would accelerate economic growth, create jobs and reinforce Lagos’ reputation as Africa’s premier investment destination.