Sanwo-Olu Courts Commonwealth Investors, Says Lagos Ready for Global Capital

Lagos State Governor Babajide Sanwo-Olu has called on Commonwealth nations to channel investments into Africa, particularly Lagos, describing the state as a prime destination for global capital.

The governor made the appeal as keynote speaker at the Commonwealth Trade and Investment Summit held at Mansion House, London, on Monday, according to a statement signed by his Special Adviser on Media and Publicity, Gbenga Akosile.

Addressing delegates from the 56-member bloc, Sanwo-Olu argued that Africa must move from the margins to the centre of global investment conversations for the Commonwealth to remain relevant as an engine of trade and investment.

“The Commonwealth’s greatest advantage is not simply its shared language, shared laws or shared history but its people,” he said. “Nowhere is that advantage more vivid, dynamic or consequential than in Africa.”

He highlighted demographic trends, noting that Africa is home to the world’s youngest population, adding that by 2050, one in four people on earth will be African.

The governor also pointed to ongoing infrastructure and policy reforms in Lagos, including investments in the port, airport, rail corridors, and technology infrastructure, as foundations to attract global capital.

Describing Lagos as Nigeria’s economic capital, Sanwo-Olu said the state generates roughly a third of Nigeria’s GDP and would rank among the top five economies in sub-Saharan Africa if it were a standalone nation.

He reaffirmed that his administration’s THEMES+ agenda remains open for business, driving development across transportation, health, education, security, social inclusion, and youth empowerment.

The governor further announced that Lagos will host the “Invest in Lagos 3.0” summit on June 8 and 9 at Eko Hotels and Suites, in partnership with the Commonwealth Enterprise and Investment Council, describing it as a transaction platform for global investors.

Also speaking, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, outlined Lagos’ strategy for mobilising capital and deepening engagement with international partners.