Lagos State Governor Babajide Sanwo-Olu says his administration is committed to the Lagos State Development Plan 2052 to promote sustainable growth and attract investment, adding that the state aims to grow its economy to nearly $1 trillion by 2052.
Sanwo-Olu said the Lagos 2052 Development Plan – a long-term blueprint comprising 447 initiatives across 21 strategic sectors, aims to position the state as Africa’s model megacity and a globally competitive economic and financial hub- focuses on four major pillars: a thriving economy, a human-centred city, modern infrastructure, and effective governance.
The governor said this at the Lagos Executive Business Breakfast Meeting, organised by the Nigerian-British Chamber of Commerce (NBCC), held in Lagos on Wednesday, October 28, 2026.
Sanwo-Olu, who called for sustained investment in infrastructure, technology, human capital and business-friendly policies, said improved port efficiency, technological innovation and increased investment in Lagos had significantly boosted manufacturing, created job opportunities, and strengthened economic activity nationwide.
Sanwo-Olu said his administration had, since May 29, 2019, created opportunities and positively impacted the lives of millions of Lagosians through the delivery of good governance and the dividends of democracy.
He said he would like to be remembered as a governor who touched the lives of Lagos residents based on their individual needs in different areas such as transportation, health, education, economic empowerment, security, and infrastructure.
Speaking about his administration’s achievements, Sanwo-Olu pointed to the development of the Blue and Red rail lines, improvements in electricity regulation, expanded digital connectivity, and investment in healthcare and education as critical to the state’s long-term competitiveness.
The governor also identified the Lekki Deep Sea Port, industrial developments, and the State’s growing technology and creative sectors as important drivers of economic growth and regional trade.
He disclosed that the government was strengthening support for small and medium-sized enterprises through financing and grants, while promoting innovation and developing a skilled workforce to meet the needs of emerging industries.
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Sanwo-Olu stated that Lagos State’s budget had grown from about N700 billion in 2019 to N4.2 trillion in 2026, reflecting expanding investment needs and the importance of improving revenue generation to sustain development.
Sanwo-Olu reiterated his administration’s commitment to building an economy capable of attracting global investment, creating jobs and improving residents’ quality of life.
Sanwo-Olu urged members of the Nigerian-British Chamber of Commerce to see the state as more than a large consumer market, but as a platform for production, innovation, regional trade and international investment.
The President and Chairman of the NBCC, Abimbola Olashore, called for a stronger collaboration between government, businesses, and investors to improve the business environment, attract investment and strengthen Lagos’ global competitiveness.
Olashore reaffirmed the Chamber’s commitment to promoting Nigeria-United Kingdom trade and investment relations.
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