Agreements, MOUs secured at Lagos Summit 3.0 not Ceremonial Documents - Sanwo-Olu
Governor Babajide Sanwo-Olu of Lagos State says the successful conclusion of Invest Lagos Summit 3.0 has provided practical proof that Lagos is Africa’s business gateway, attracting global investors, development partners and strategic institutions.
Sanwo-Olu stated this on Tuesday at the closing ceremony of the two-day Invest Lagos Summit 3.0 held at Eko Hotel and Suites, Victoria Island, Lagos.
The governor said the summit moved beyond theoretical discussions about Lagos’ investment potential, noting that commitments secured during the event reflected growing international confidence in the state’s economy.
“At the beginning of this Summit, we posed a simple but profound question to ourselves and to the world: ‘Is Lagos the Business Gateway to Africa?’
“As we conclude Invest Lagos Summit 3.0, the answer is no longer theoretical. The answer is yes,” he said.
According to him, the confidence expressed by investors, signed Memoranda of Understanding (MoUs), partnerships established and investment commitments secured during the summit demonstrate Lagos’ strategic importance in Africa’s economic future.
Sanwo-Olu said the agreements signed between Lagos State and its investment partners are designed to deliver tangible economic outcomes rather than remain ceremonial documents.
“These are not ceremonial documents. They are instruments of execution.
“They represent investments to be facilitated, projects to be delivered, jobs to be created and prosperity to be shared,” he said.
The governor said the state would deploy a post-summit investment conversion framework to monitor, track and support all commitments made during the summit.
“Success is not measured by the quality of discussions alone. Success is measured by implementation.
“We govern transparently. We deliver intentionally. And we remain accountable for results,” he said.
Sanwo-Olu said one of the summit’s highlights was the Governors’ Investment Showcase, which demonstrated growing sub-national competitiveness in line with President Bola Tinubu’s Renewed Hope Agenda.
He said governors from Lagos, Abia, Imo, Nasarawa and Plateau States presented compelling investment opportunities rooted in their comparative advantages while promoting a broader narrative of a business-friendly Nigeria.
“What we witnessed from the governors was a practical demonstration of a Nigeria that is open for business, committed to reform and determined to compete successfully for global capital,” he said.
The governor said discussions on infrastructure underscored its importance as the foundation of economic competitiveness.
He noted that projects such as the Blue Rail Line, Red Rail Line, Lekki International Airport, road networks, port modernisation initiatives and energy investments are already transforming the state’s economic landscape.
“These are not aspirations. These are projects under implementation.
“They are funded. They are progressing. And they are transforming the investment landscape of our State,” he said.
Sanwo-Olu said the African Continental Free Trade Area (AfCFTA) had further strengthened Lagos’ position as a strategic gateway linking investors to Nigeria and Africa’s broader market.
“With the African Continental Free Trade Area creating a market of over 1.4 billion people and a combined GDP exceeding three trillion dollars, Lagos occupies a uniquely strategic position.
“We are not merely a city. We are a gateway connecting investors to Nigeria, connecting Nigeria to Africa and connecting Africa to global markets,” he said.
The governor acknowledged international partners, including the European Union, Agence Française de Développement, UNDP, Afreximbank, British International Investment and the Commonwealth Enterprise and Investment Council, for supporting Lagos’ investment ambitions.
He described Lagos’ creative economy as one of its strongest competitive advantages, citing the global success of Afrobeats, Nollywood, fashion and digital content creation.
“Our music, film, fashion, technology ecosystem and creative industries have become powerful economic assets that project Nigeria’s influence globally while generating jobs, investment opportunities and export earnings.
“Culture is no longer simply an expression of identity. It is an engine of growth. It is an investment opportunity,” he said.
On energy, Sanwo-Olu said Lagos was creating opportunities for private sector participation through electricity market reforms, renewable energy investments and regulatory innovations.
“Energy security is economic security, and Lagos is taking deliberate steps to strengthen both,” he said.
The governor noted that Lagos had built credibility through consistency in policy implementation and infrastructure delivery since 2019.
“We promised transformational transportation infrastructure and delivered rail.
“We promised improved ease of doing business and implemented reforms. We promised digital transformation and invested in innovation,” he said.
According to him, investors are attracted to destinations where governments demonstrate consistency, predictability and execution capacity.
“That is the Lagos proposition. To our investors and partners gathered here today, let me assure you: the government receiving your investment is one with a proven track record of delivery,” he said.
Sanwo-Olu said Lagos was strengthening institutions through initiatives such as the Lagos International Financial Centre, investment facilitation frameworks, digital governance reforms and post-summit conversion mechanisms.
He urged future leaders of the state to sustain relationships and opportunities created through the summit.
“The relationships established here belong to Lagos. The opportunities identified belong to Lagos. The partnerships forged belong to Lagos.
“And the responsibility to nurture, deepen and convert them belongs to all who will have the privilege of serving this great state,” he said.
The governor thanked the summit’s co-chairs, organisers, speakers, delegates, development partners, security agencies, media organisations and investors for contributing to its success.
He said visiting investors would tour strategic economic assets, including the Dangote Petroleum Refinery, Lekki Free Zone, ports, industrial clusters and manufacturing facilities.
“What they will see is not a city waiting for transformation. They will see a city already undergoing transformation. A city building at scale. A city investing with purpose. A city preparing for the future,” he said.
Sanwo-Olu said Lagos was not merely participating in Africa’s growth story but actively shaping it.
“Africa’s Business Gateway is open. And the world is welcomed,” the governor said.
Credit NAN: Texts excluding Headline
