Shettima ranks Lagos Africa’s gateway to global wealth

The Vice President Kashim Shettima has said Lagos State is increasingly emerging as Africa’s gateway to global wealth, as the continent intensifies efforts to attract a larger share of international investment and trade opportunities.

Shettima noted that Lagos continues to stand out as a prime destination for business expansion, innovation and long-term economic growth across Africa.

The Vice President said this at the opening of the third edition of Invest Lagos 2026 held in Victoria Island on Monday.

He described Lagos as the gateway to Africa’s economic future and a strategic hub for global investors.

Shettima pointed out that Nigeria possesses the demographic strength, entrepreneurial talent, and economic potential to rank among the world’s largest economies by 2050, provided the country continues to invest in innovation, leadership and infrastructure.

The Vice President noted that Lagos has maintained its position as Africa’s commercial nerve centre through deliberate policies, strong institutions and a business-friendly environment that continues to attract multinational corporations and foreign investments.

Shettima also reaffirmed the Federal Government’s commitment to collaborating with states and the private sector to improve infrastructure, expand trade opportunities and strengthen the ease of doing business across the country.

Also speaking at the event, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, highlighted the ongoing economic reforms aimed at improving Nigeria’s investment climate.

Oyedele said recent fiscal and tax policy initiatives enhanced investor confidence and opens up new opportunities for sub-national economic growth.

In his remarks, the Governor of Lagos State, Babajide Sanwo-Olu, said the state had consistently implemented policies designed to encourage investment, support startups and create an enabling environment for businesses to flourish.

He added that the State Government remains committed to building a resilient economy capable of attracting local and international investors while creating jobs and opportunities for residents.

The Secretary-General of the Commonwealth, Shirley Botchwey, called for stronger regional cooperation through improved power supply, efficient logistics systems and enhanced security across the continent.

She urged African leaders to harness innovation and talent drive job creation and sustainable economic development.

The event themed “Lagos: Business Gateway to Africa, Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership” brought together policymakers, investors, business leaders, and development partners to explore opportunities for economic expansion across Nigeria and Africa.

A major highlight of the conference was the Governors’ Investment Showcase, where governors from Lagos, Abia, Imo, Nasarawa, and Plateau States presented investment opportunities in key sectors of their respective economies.