By Ayomide Otitoju
Babajide Sanwo-Olu has called on the 56 member states of the Commonwealth of Nations to deepen investment in Africa, particularly Lagos, by deploying capital, technology, and expertise to drive growth and partnerships.
Speaking at the opening of the Commonwealth Trade and Investment Summit held at Mansion House in London, the governor said the Commonwealth’s greatest strength lies in its people, noting that Africa represents the most dynamic expression of that advantage.
Sanwo-Olu, who delivered the keynote address during the session themed “The Commonwealth’s Advantage,” said Lagos is positioning itself as a ready partner for global investors, offering not only market opportunities but long-term collaboration.
He highlighted Africa’s demographic strength, noting that by 2050, one in four people globally will be African, and stressed that the continent must be central to the Commonwealth’s trade and investment strategy.
According to him, amid global economic uncertainty and shifting geopolitical dynamics, the Commonwealth provides a trusted platform for business engagement anchored on shared values such as rule of law, democratic governance, and open markets.
The governor also reaffirmed support for frameworks such as the African Continental Free Trade Area (AfCFTA), which he said has the potential to create the world’s largest single market, while emphasising Lagos State’s investments in critical infrastructure, including ports, airports, rail systems, and digital technology, to attract global capital.
He said Lagos, Nigeria’s economic hub, contributes a significant share of the country’s GDP and is undergoing transformation under the THEMES+ development agenda, which focuses on transportation, health, education, economic growth, governance, security, and social inclusion.
Sanwo-Olu noted that ongoing projects, including the Blue and Red rail lines, expansion of healthcare facilities, and digitalisation of government systems, are part of efforts to build a 21st-century megacity.
He added that the state is actively leveraging public-private partnerships to fund infrastructure and drive inclusive development, rather than relying solely on public financing.
The governor also announced that Lagos will host the third edition of its flagship investment summit, “Invest in Lagos 3.0,” scheduled for June 8 and 9 at Eko Hotels and Suites in Victoria Island. The event will be organised in partnership with the Commonwealth Enterprise and Investment Council to attract global investors and expand international participation.
He described the summit as a transaction-driven platform designed to showcase bankable investment opportunities across key sectors of the state’s economy.
Also speaking at the event, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, outlined the state’s strategy for mobilising capital and strengthening partnerships with the global investment community.
