Lagos has recorded significant GDP growth over five years, Sanwo-Olu reveals

Lagos State Governor, Babajide Sanwo-Olu, has revealed that the state’s Gross Domestic Product (GDP) has seen significant growth over the past five years, attributing the achievement to his administration’s strategic economic policies.

Speaking on Wednesday during a courtesy visit from the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN), led by its President, Prof. Pius Olanrewaju, at Lagos House, Ikeja, the governor emphasized the state’s commitment to fostering a thriving business environment and ensuring economic prosperity for all residents.

“We have seen significant improvements in Lagos’ GDP over the last five years due to well-thought-out economic policies. Our goal remains to ensure that businesses can thrive, and residents can prosper in a safe environment,” Sanwo-Olu stated.

During the meeting, Sanwo-Olu also reiterated his administration’s dedication to enhancing corporate governance and maintaining Lagos as a major hub for economic activities in Nigeria.

In a separate engagement on the same day, Sanwo-Olu met with the leadership of the Chartered Institute of Secretaries and Administrators of Nigeria (ICSAN), led by its President, Mrs. Funmi Ekundayo. During their discussion, the governor pledged to collaborate with ICSAN to improve corporate governance structures within Lagos State.

“Lagos will continue to be a home for all Nigerians, and our government will create platforms and opportunities for everyone to grow,” Sanwo-Olu assured the ICSAN delegation.

Commending the governor’s leadership, Prof. Olanrewaju highlighted the positive impact of the Sanwo-Olu administration on the lives of millions of Lagosians, noting that the government’s policies have contributed to good governance and development.

Prof. Olanrewaju also addressed the “Japa syndrome” affecting the banking sector, revealing that CIBN has established a state-of-the-art academy to train new personnel and uphold high standards of professionalism.

The governor and Nigeria’s Minister of Finance, Wale Edun, were conferred with honorary Fellowships of the Chartered Institute of Bankers of Nigeria during the visit.

In her remarks, Mrs. Ekundayo praised the governor’s achievements, particularly those made under the THEMES+ Agenda. She urged the Lagos State Government to support corporate governance initiatives and help build capacity within the public and private sectors.

Ekundayo further stressed the need for a robust governance framework to boost productivity and accountability.