‘Lagos is Africa’s future, most significant economy in Africa,’ Sanwo-Olu reveals
By By Adeola Ogunrinde
The Governor of Lagos State, Babajide Sanwo-Olu, has described Lagos as a living testament to Africa’s possibilities, noting that the state has grown into one of the most economically important urban centres on the continent.
He made the remark at the closing ceremony of Africa Week 2026 organised by King’s College London at the African Leadership Centre in the United Kingdom.
The governor said although Lagos occupies a small portion of Nigeria’s landmass, it has developed into a major commercial hub and one of Africa’s largest city economies, with a Gross Domestic Product estimated at about $259 billion on a purchasing power parity basis.
Speaking on the theme, “Exercising Agency beyond the Nation-State: Debating Change and Transformation in the Global City, Lagos,” Sanwo said discussions about power, development and influence have often focused mainly on national governments.
He said Lagos has demonstrated how policy and enterprise can work together to drive development, noting that the city has become the centre of Nigeria’s startup ecosystem and one of the fastest-growing technology hubs in the world.
According to him, Lagos currently hosts more than 2,000 startups and has produced five unicorn companies across fintech and digital commerce sectors.
Sanwo-Olu also disclosed that his administration has focused on improving transportation through the development of a multimodal transport system, including rail lines, road infrastructure, bus reforms and water transport to ease movement within the state.
He added that the Lagos State government is also supporting the creative industry, noting that sectors such as film, music, fashion and digital content have become major contributors to economic growth while promoting African culture globally.
