Lagos State Governor Babajide Sanwo-Olu has called on Commonwealth member nations to increase investment flows into Africa, especially Lagos, as he pitched the state as a leading destination for global capital.
The statement was issued on Monday by the governor’s Special Adviser on Media and Publicity, Gbenga Akosile.
Speaking as keynote speaker at the Commonwealth Trade and Investment Summit held at Mansion House, London, Sanwo-Olu addressed delegates from the 56-member bloc, stressing that Lagos offers both immediate opportunities and long-term investment value.
“The Commonwealth’s greatest advantage is not simply its shared language, shared laws or shared history but its people,” he said, adding that “nowhere is that advantage more vivid, dynamic or consequential than in Africa.”
He argued that Africa must take a more central role in global investment discussions, insisting the continent should no longer remain at the margins.
“If the Commonwealth is to remain relevant, not merely as a sentimental compact, but as a genuine engine of global trade and investment, then Africa must be central to its strategy. And within Africa, Lagos must be part of that conversation,” he said.
Highlighting demographic trends, he noted that “Africa is home to the world’s youngest population. By 2050, one in four people on this earth will be African.”
He also referenced the scale of the Commonwealth, describing its “56 member states with a combined population of 2.7 billion” as a strong foundation for trade built on shared values.
According to him, “We live in an age of fracturing, of retreating globalisation, of tariff walls rising like storm barricades,” adding that “in such a moment, the Commonwealth offers something rare and valuable: a network built not on fear, but on trust.”
Sanwo-Olu further explained that Lagos is actively strengthening infrastructure to attract investors.
“That is why Lagos is investing in its port, its airport, its rail corridors, and its technology infrastructure, because we understand that to attract global capital, you must first build the foundations that make capital feel at home,” he said.
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He described Lagos as Nigeria’s economic powerhouse, stating: “Lagos is Nigeria’s economic capital. It generates roughly a third of Nigeria’s GDP, and, were it a standalone economy, it would rank among the top five in sub-Saharan Africa.”
He added that the state’s development blueprint, the THEMES+ agenda, is driving progress across transportation, healthcare, education, security, social inclusion, and youth empowerment.
“Our T.H.E.M.E.S.+ Agenda is not a campaign document. It is a governance architecture. And I say to every investor in this room: that architecture is open for business,” Sanwo-Olu said.
He also announced that Lagos will host the “Invest in Lagos 3.0” summit on June 8 and 9 at Eko Hotels and Suites in partnership with the Commonwealth Enterprise and Investment Council.
“Invest in Lagos is not a conference. It is a transaction platform,” he said, describing it as a key gateway for investors to explore opportunities in the state.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, also spoke at the event, outlining the state’s strategy for attracting capital and strengthening global partnerships.