Lagos State Governor, Babajide Olusola Sanwo-Olu, has revealed that strategic capital market investments are driving revenue growth and infrastructure development across the state.
The state governor, represented by the Honourable Commissioner for Finance, Mr. Abayomi Oluyomi, disclosed this at the Nairametrics Capital Market Choice Awards on Friday, May 23, at the Civic Centre in Lagos.
The governor highlighted how bold initiatives and public-private partnerships are transforming Lagos into a leading economic hub.
“Our journey has been defined by bold choices and strategic initiatives, including our active role in the capital market through our various gold initiatives,” Sanwo-Olu said.
He explained that Lagos has harnessed the capital market’s power to fund major infrastructure projects and make smart investments, benefiting the state and beyond.
“By tapping into the market’s ability to modernise, we have been able to drive transformative infrastructure projects in Lagos, and we have also enhanced revenue generation and made smart investments that benefit all nations,” he added.
Public-private partnerships key to Lagos’ progress
Sanwo-Olu emphasized that public-private partnerships are key to Lagos’ economic strategy, combining government and private sector strengths to build an inclusive community and position Lagos as a future financial hub.
“Public-private partnership is a central part of our approach, allowing us to combine the strengths of both sectors to cultivate a thriving, inclusive community.
Through this partnership, we are transforming Lagos into the financial hub of our future, a shining example of opportunity,” he said.
The governor also emphasized his commitment to creating a transparent, accessible capital market and increasing financial literacy to empower all citizens to participate effectively.
“Looking forward, we are dedicated to nurturing a capital market environment that is built on transparency, accessibility and opportunity.
“We are ramping up our efforts to enhance financial literacy, making sure that every citizen has the knowledge and tools they need to engage effectively in our markets,” he added.
Sanwo-Olu thanked investors and partners for their support and called for continued collaboration to drive economic growth and build a capital market that supports businesses and promotes shared prosperity for Lagos and Nigeria.
Award for transforming Lagos into financial hub
Governor Sanwo-Olu received an honorary award for his visionary leadership in transforming Lagos into Nigeria’s and West Africa’s undisputed financial and commercial capital.
His administration’s strategic investments in infrastructure, innovation, and urban development have fostered an enabling environment for capital markets, financial services, and fintech innovation to thrive.
Over the last five years, Lagos has attracted major investments in technology, transport, housing, and finance, making the state the preferred destination for capital inflows and new business ventures.
What you should know
Lagos State Government disclosed that it is advancing its financial sector by establishing the Lagos International Financial Centre (LIFC) to create an enabling environment that supports seamless trading and attracts foreign investment.
Sanwo-Olu noted that by tackling existing market challenges and strengthening collaboration between government and the private sector, the LIFC is expected to boost capital market growth, increase Lagos’ competitiveness in the global financial landscape, and drive innovation within the financial sector.
The Lagos International Financial Centre was created in partnership with EnterpriseNGR and other key stakeholders.
