Lagos Unveils Investment Opportunities, Targets Economic Growth

Lagos State Governor, Sanwo-Olu, has highlighted areas of opportunities for investment in the state, including transportation, tourism, health insurance, and waterways, as the state government remains committed to pushing forward its ambitious development plans.

Lagos State Governor, Sanwo-Olu, has highlighted areas of opportunities for investment in the state, including transportation, tourism, health insurance, and waterways, as the state government remains committed to pushing forward its ambitious development plans.

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According to Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, “Lagos, as the nation’s commercial nerve center, has been a beacon of economic activity driven by commitment to fostering conducive environment for business and investment.”

She noted that the Sanwo-Olu administration had grown Lagos GDP from 27 trillion to 41 trillion within five years, stressing that the State had made progress in creating a business-friendly environment.

The Commissioner highlighted the state’s efforts in diversifying its economy, saying “Lagos had made significant strides in diversifying its economy with strategic investments in various sectors, including allocating N550.7 billion to expand sustainable physical infrastructure in 2024 alone.”

She also emphasized the state’s commitment to promoting Ease of Doing Business, saying “Lagos continues to lead in promoting Ease of Doing Business, which has positioned the State as a global city and an emerging African Financial Centre.”

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Managing Director of Sterling Bank, Mr. Abubakar Suleiman, noted that Lagos remained the leading destination for investors due to the state’s strategic roadmap for its economic growth.

He said, “Lagos has continued to provide clarity in creating access to markets for investors, while also maintaining consistency in communicating its investment decisions.”