Lagos State Governor, Mr. Babajide Sanwo-Olu, has once again underscored the state’s readiness to attract and sustain investments, affirming that Lagos remains open for business and committed to fostering an enabling environment where enterprises can thrive.
Represented by Deputy Governor Dr. Obafemi Hamzat, Sanwo-Olu delivered this assurance on Wednesday while hosting a delegation from the Georgia House of Assembly, led by Hon. Almaz Dagash, at the Lagos House, Ikeja.
“We have the market here; the vibrancy and capacity are enormous,” he said. “With a population of about 24 million and a GDP of approximately $259 billion, Lagos offers significant opportunities for investors.”
He further highlighted ongoing federal reforms aimed at stabilizing the economy, including currency management, subsidy removal, and comprehensive tax restructuring, noting that these measures—though initially challenging—are designed to liberalize and expand Nigeria’s economic base.
On the state level, Sanwo-Olu explained that Lagos is prioritizing digitalization and infrastructure upgrades to enhance ease of doing business.
Initiatives include automating government processes, expanding broadband connectivity to public schools and institutions, and providing online platforms for civic engagement.“Despite occupying only 0.4% of Nigeria’s land mass, Lagos accommodates 10% of the nation’s population, making it a highly attractive market,” he added.
“Its economy is now the sixth largest in Africa, with a population exceeding that of 12 African countries combined.”
Earlier, Dagash emphasized that the delegation’s visit aimed to strengthen collaboration, particularly in entrepreneurship development through training, mentorship, and funding support.
“It is critical for the continent to leverage the knowledge, resources, and expertise of the diaspora,” Dagash said.
“Nigeria, with its highly educated population and remarkable achievements globally, continues to present immense opportunities, not only for itself but for Africa as a whole.”
