• VP, Sanwo-Olu, Oyedele confirms Lagos investors’ haven
• FG to extend rail network to Lagos airport

Vice President Kashim Shettima, yesterday, said Nigeria’s quest to build a $1 trillion economy will be driven by private enterprise, strategic investments and coordinated reforms across all tiers of government, while identifying Lagos State as the clearest example of how subnational leadership can catalyse national transformation.
 
He hailed President Bola Tinubu for taking “the bullet” for making painful decisions, while urging those who want to be nice to steer clear of leadership and settle for ice cream vending.
 
Along with Governor Babajide Sanwo-Olu of Lagos and the Minister of Finance/Coordinating Minister of the Economy, Taiwo Oyedele, the Vice President highlighted investment opportunities in Lagos and stated that the state remains a secure haven for investors.
 
Meanwhile, the Federal Government has unveiled plans to extend the existing Lagos rail network to the domestic and international terminals of the Murtala Muhammed Airport (MMA), Lagos.
 
Speaking at the opening of the ‘Invest Lagos 3.0 Summit’ at Eko Hotels and Suites, Victoria Island, Lagos, the Vice President said the country’s economic future “depends on creating an environment in which businesses can thrive, innovation can flourish and investors can deploy capital with confidence”

Addressing an audience of policymakers, investors, entrepreneurs, development partners and business leaders, Shettima described Lagos as Nigeria’s economic heartbeat and a model for the kind of governance required to achieve sustainable growth.
 
“President Tinubu planted the tree whose shade has sheltered a succession of leaders committed to futurist ideas, institutional continuity and disciplined governance,” he added.
 
Shettima said: “The President has taken the bullet for making painful decisions because we understand that the economy of our dream cannot be built on illusions, and leadership entails taking hard, harsh decisions.
  
“If you want to be a nice man, you can go and sell ice cream, but leadership requires you to make very harsh decisions.”
 
He also commended Sanwo-Olu for consolidating those gains and strengthening Lagos’ appeal as a preferred destination for investment and business expansion.
 
Referring to the summit’s theme, ‘Lagos: The Business Gateway to Africa’, Shettima said cities were increasingly shaping global production systems, supply chains, innovation ecosystems and investment flows.
 
Highlighting Nigeria’s long-term prospects, Shettima said the country’s demographic advantage and strategic position under the African Continental Free Trade Area (AfCFTA) provided a strong foundation for industrial expansion and regional competitiveness.
 
With Nigeria projected to become one of the world’s most populous nations by 2050 and AfCFTA opening access to a market of more than 1.4 billion people, he said the country “is well positioned to emerge as Africa’s leading hub” for production, logistics, innovation and investment.
 
He, however, stressed that the Federal Government could not achieve economic transformation alone, urging stronger collaboration among state governments, development institutions and the private sector.
 
Earlier, Sanwo-Olu had said the summit reaffirmed Lagos’ status as an investment-ready destination and a gateway through which investors could access opportunities across critical sectors of the Nigerian economy.
 
Crediting Tinubu with laying the foundation for the modern Lagos economy and praised his continued commitment to accelerating subnational development, Sanwo-Olu outlined his administration’s achievements in agriculture, healthcare, human capital development, transportation, energy, technology, trade and commerce, and assured investors of a conducive environment for businesses to thrive.
 
Also speaking, Oyedele said the Tinubu administration’s reforms were beginning to yield results, with Lagos emerging as a shining example of subnational economic resilience and competitiveness.
 
In her remarks, Lagos Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, said the summit underscored Lagos’ readiness for business, partnerships and investments, assuring stakeholders that the state would continue to provide a stable environment for investment.
 
Secretary-General of the Commonwealth, Shirley Botchwey, described Lagos as a city that justifies its reputation as Africa’s business gateway.
 
“While Lagos is setting the pace in technology, culture and enterprise, it is not merely a city of potential but a city of proof,” she said.
 
Chairman of the Commonwealth Enterprise and Investment Council, Lord Marland, called for pragmatic leadership amid growing global economic, environmental and health challenges, saying Nigeria’s leadership had shown determination in navigating difficult realities.
 
Dr Gainmore Zanamwe, who represented the President of Afreximbank, Dr George Elombi, reaffirmed the bank’s commitment to supporting viable investments in Lagos and Nigeria, citing confidence in the country’s capacity to power Africa’s next phase of trade and economic leadership.
 
Secretary-General of the AfCFTA Secretariat, Mr Wamkele Mene, said Africa’s future growth would depend largely on collaboration, infrastructure investments and support for entrepreneurship, adding that Lagos was strategically positioned to help realise the continent’s economic aspirations.
 
The opening session also featured a fireside conversation involving Governors Caleb Mutfwang (Plateau), Abdullahi Sule (Nasarawa), Hope Uzodimma (Imo), Alex Otti (Abia) and Sanwo-Olu on the role of subnational governments in driving investment-led growth.

THE Minister of Aviation and Aerospace Development, Festus Keyamo, in his remarks at the summit, said despite the array of airports in the country, 67 per cent of the total passenger traffic arrives or departs from Lagos.
 
According to him, discussions are already underway between the ministry and Lagos to commence the rail project to the airport.
 
Expressing that the move was aimed at strengthening Lagos’ position as Africa’s leading aviation hub, Keyamo posited that the proposed rail extension would connect the existing rail line that terminated at Ikeja Bus Stop to the General Aviation Terminal (GAT) and move further through the MMA2, a facility operated by Bi-Courtney Aviation Services Limited (BASL), before reaching the international wing of the airport.
 
He stated that the project, upon completion, would significantly improve accessibility to Nigeria’s busiest airport and support the government’s vision to transform Lagos into a major aviation and logistics hub for Africa.