Sanwo-Olu seeks stronger trade links at Abuja economic summit
Lagos State Governor Babajide Sanwo-Olu has called for improved infrastructure, stronger regional trade links and better support for businesses to drive economic growth and position Nigeria to benefit from opportunities under the African Continental Free Trade Area (AfCFTA).
Sanwo-Olu made the call at the 32nd Nigerian Economic Summit in Abuja, where he shared his views on regional growth corridors and their implications for Lagos and Nigeria’s economic future.
The governor said Lagos’ experience showed that investment in critical infrastructure, support for entrepreneurs and improved market connections could create jobs and expand opportunities for businesses.
He identified better road and rail networks, more efficient ports, reliable electricity and broadband services, and improved logistics hubs as essential to moving goods faster from producers to consumers.
Sanwo-Olu also stressed the need to improve access to finance, simplify digital services and provide targeted support for small and medium-sized enterprises. He said collaboration among governments, banks and private investors would enable local businesses to increase production, meet international standards and compete across African markets.
The governor further called for simpler customs procedures, more efficient one-stop border posts and harmonised standards across national borders to reduce trade barriers and facilitate cross-border transactions.
He said effective implementation of the Economic Community of West African States (ECOWAS) Trade Liberalisation Scheme and AfCFTA would expand market access for Nigerian products. According to him, efficient transport corridors would also reduce delays and lower the cost of doing business.
Sanwo-Olu said Lagos was focused on making trade easier, strengthening business competitiveness and ensuring that economic growth improved residents’ living conditions. He added that sustained investment, effective policies and stronger public-private partnerships would help build a more productive Nigerian economy and position Lagos to benefit from Africa’s expanding economic opportunities.
