Lagos emerging as Africa’s gateway to global wealth — VP Shettima
By Adeola Ogunrinde
The Vice President of Nigeria, Kashim Shettima, on Monday described Lagos as Africa’s emerging gateway to global wealth, saying the state is playing a pivotal role in the continent’s drive to attract greater international investment and trade opportunities.
Shettima made the remark at the opening of the third edition of the Invest Lagos 2026 Conference held in Victoria Island, where government officials, investors and business leaders gathered to discuss economic growth and investment prospects.
Describing Lagos as a strategic hub for global investors and the gateway to Africa’s economic future, the vice president said Nigeria possesses the demographic strength, entrepreneurial capacity and economic potential to become one of the world’s largest economies by 2050.
He stressed that achieving such a goal would require sustained investments in innovation, infrastructure development and effective leadership, noting that these factors remain critical to long-term economic transformation.
According to Shettima, Lagos has sustained 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 direct investment.
Also speaking at the event, the Minister of Finance, Taiwo Oyedele, highlighted ongoing economic reforms aimed at improving Nigeria’s investment climate. He said recent fiscal and tax policy measures were boosting investor confidence and creating new opportunities for growth across the states.
In his remarks, Lagos State Governor Babajide Sanwo-Olu said Lagos has consistently implemented policies designed to encourage investment, support startups and create an enabling environment for businesses to thrive. He reaffirmed the state government’s commitment to building a resilient economy capable of attracting both local and international investors.
A major highlight of the conference was the Governors’ Investment Showcase, where governors from Lagos State, Abia State, Imo State, Nasarawa State and Plateau State presented investment opportunities in key sectors of their respective economies, underscoring efforts by sub-national governments to attract capital and drive economic development.
