Lagos State Governor emphasizes African cities as drivers of investment and economic growth

He made these remarks while delivering a keynote address in Washington, DC, after receiving the 2026 Global Transformation and Good Governance Prize by the Millennium Excellence Award, USA. The award ceremony was part of the 2026 Africa Business Investment Summit. Speaking on "Lagos and the Future of African Investment," Governor Sanwo-Olu highlighted that African cities must lead the continent's economic transformation, especially with growing urban populations.

He cited Lagos as an example of how urban governance, infrastructure development, and private-sector partnerships can attract investment and foster economic growth. Lagos, despite its small landmass, has a population larger than the Netherlands and contributes over a quarter of Nigeria’s economic output, with an economy valued at approximately $259 billion by purchasing power. The Governor noted that Lagos's internally generated revenue is projected above N3 trillion this year.

He also mentioned Lagos's leading startup ecosystem in sub-Saharan Africa, valued at $8.6 billion, with three active unicorns. Major infrastructure projects highlighted include the $1.5 billion Lekki Deep Sea Port, the 650,000-barrel-per-day Lekki Refinery, and the Blue Line rail, which has transported over eight million passengers. New