The Lagos State Government has intensified efforts to position the state as Africa’s premier destination for investment, innovation and business growth, unveiling fresh opportunities in infrastructure, tourism, the creative economy and financial services at the Invest Lagos 3.0 Summit.
Speaking at the closing session of the two-day summit held at Eko Hotels and Suites, Victoria Island, Governor Babajide Sanwo-Olu, Deputy Governor Dr. Obafemi Hamzat and other key policymakers outlined strategic projects and investment opportunities aimed at attracting both local and international investors.
Governor Sanwo-Olu said the true success of the summit would be measured by the partnerships, investments and projects that emerge from discussions held during the event. According to him, agreements reached at the summit represent tangible commitments capable of stimulating economic growth, creating jobs and strengthening Lagos’ position as a leading investment destination.
He noted that Lagos has moved beyond merely claiming to be Africa’s business gateway, pointing to the confidence shown by investors and the partnerships secured during the summit as evidence of the state’s growing appeal.
The governor highlighted several transformative projects, including the Lagos Rail Mass Transit system, the Lekki Deep Sea Port, extensive road infrastructure development and investments in the energy sector. He said these projects are laying the foundation for long-term economic competitiveness and sustainable growth.
Sanwo-Olu also underscored Lagos’ strategic importance within the African Continental Free Trade Area (AfCFTA), noting that the state is well-positioned to leverage access to a continental market of over 1.4 billion people.
He further reiterated plans to establish the Lagos International Financial Centre (LIFC), which he described as a major initiative designed to transform Lagos into a global hub for finance, trade and investment.
Earlier, Deputy Governor Hamzat emphasized that policy consistency, institutional stability and long-term planning remain critical factors driving investor confidence in Lagos. He explained that the state’s development strategy focuses on creating an environment where residents can live, work, invest and raise families comfortably.
According to Hamzat, Lagos continues to attract investment because of its stable governance structure and predictable policies, which provide assurance to investors regardless of political changes.
He stressed that governments cannot single-handedly finance all infrastructure needs and therefore require strong partnerships with both local and international investors. Maintaining transparent processes and policy continuity, he said, remains essential for sustaining investor confidence.
The deputy governor also called for stronger collaboration among states, noting that Lagos’ economic success is closely linked to the growth and development of other parts of Nigeria.
During a sector-focused session, the Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, showcased numerous investment opportunities across tourism, hospitality, entertainment, culture and the creative industries.
She described these sectors as significant contributors to economic growth, job creation and foreign direct investment. According to her, Lagos is uniquely positioned to maximize the economic value of its coastline through destination resorts, eco-tourism projects, marinas, waterfront infrastructure and hospitality developments.
Benson-Awoyinka cited the successful hosting of Africa’s first E1 Electric Boat Race and ongoing waterfront projects as proof of the commercial potential of Lagos’ coastal economy.
She also revealed plans to revitalize major heritage and cultural assets, including the Black Heritage Museum, the John Randle Centre for Yoruba Culture and History, and the historic Point of No Return in Badagry, with the aim of transforming them into world-class tourism attractions.
In addition, the commissioner disclosed that the state is investing in tourism transportation systems, hospitality infrastructure, workforce development and major creative industry projects such as the proposed Lagos Film City, which is expected to further strengthen Lagos’ reputation as Africa’s entertainment and cultural capital.
Speaking during the closing ceremony, Deputy Chief of Staff to the Governor, Sam Egube, described Invest Lagos 3.0 as a strategic platform created to connect investors, policymakers, development partners and innovators from around the world.
Egube said Lagos’ emergence as a centre for technology, innovation and investment is the result of deliberate planning and sustained policy implementation by successive administrations. He added that the state’s commitment to transparency, consistency and investor-friendly policies has created a conducive environment for businesses to thrive.
He urged stakeholders to translate discussions from the summit into concrete investments, stronger partnerships and sustainable economic outcomes.
Participants at the summit expressed confidence that the agreements reached and opportunities showcased during the event would further accelerate Lagos’ ambition of becoming Africa’s preferred destination for business, tourism, innovation and enterprise.
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