Lagos State Governor Babajide Sanwo-Olu on Wednesday pitched Nigeria’s commercial capital as a prime investment destination during a guest lecture at Harvard Business School in the United States.
Speaking on the topic “Building the Future: Lagos State Infrastructure-led Transformation” as part of Professor Hakeem Belo-Osagie’s course “Understanding Africa: Business, Entrepreneurship, Political Economy and the Complexities of a Continent”, Governor Sanwo-Olu highlighted Lagos’ economic strength, infrastructure projects, and policy reforms aimed at driving growth and attracting global investment.
“With a GDP of $259bn, a population of 25 million, four seaports, and investor-friendly policies, Lagos is a business and commercial powerhouse,” Sanwo-Olu said. “Lagos is a place where people come in without anything and become somebody.”
He emphasised that Lagos is experiencing a transformation through infrastructure development, particularly in transportation, housing, education, technology, and healthcare.
Among the projects highlighted was the Lagos Blue Line—the first intra-city electric rail system in Africa—which has already transported over two million passengers, averaging 42,000 daily.
The Red Line, he noted, is also operational, while work is set to begin on the Green Line to connect Lagos Island with the Lekki-Epe corridor, where a new airport is also under development.
The governor also outlined strides in education, pointing to the establishment of two new universities and a third focused on medical sciences aimed at addressing the state’s healthcare workforce needs.
In the tech space, Sanwo-Olu described Lagos as one of Nigeria’s leading technology hubs, noting that the state is nurturing a large pool of tech talent as part of a 30-year Development Plan to create a human-centric economy.
“If Microsoft or Amazon is looking to hire 10,000 tech professionals, Lagos should be the first place to look,” he said.
Tourism, arts, and culture were also spotlighted as growth areas.
“There have been fashion shows, drama performances, and movies. In fact, a movie made in Lagos has just been nominated to be presented at the Cannes Film Festival,” he noted, adding that the state is working to formalise its tourism and entertainment calendar.
Sanwo-Olu listed achievements in road construction and housing delivery—over 1,000 roads have been built or rehabilitated, and more than 3,000 housing units provided—as well as developments in clean energy, including the introduction of more Compressed Natural Gas buses.
On health, he revealed ongoing construction of a new General Hospital, a mental health hospital and rehabilitation centre, and the new Massey Street Children’s Hospital, which is set to become the largest of its kind in Sub-Saharan Africa.
The presentation began with a five-minute video showcasing Lagos’ skyline and potential as an investment hub, drawing warm applause from the audience of global students.
During a Q&A session, the governor addressed questions on Nigeria’s energy sector, highlighting recent constitutional reforms allowing states to generate, distribute, and transmit power independently.
“We can now issue licences, concession areas—Lagos is open for energy investment,” Sanwo-Olu assured, flashing a confident smile.
Encouraging his audience to consider Lagos as their next investment frontier, the Governor concluded, “Some markets are saturated. They’ve built all the infrastructure they need; we are still building. Lagos is the place to invest.”
