Governor Sanwo-Olu Champions Lagos as a Top Investment Destination at Harvard

Lagos, with a GDP of $259 billion, a population of 25 million, four seaports, and investor-friendly policies, continues to be a hotspot for investment, Governor Baba jide Sanwo-Olu declared during his presentation at Harvard Business School on Wednesday.

"Lagos is a place where anyone can come and succeed. We are a thriving business and commercial hub," the Governor emphasized.Sanwo-Olu was speaking at Professor Hakeem Belo-Osagie’s course, “Understanding Africa: Business, Entrepreneurship, Political Economy, and the Complexities of a Continent.” Professor Belo-Osagie, a leading Nigerian investment banker and businessman, hosted the session.

The Governor used the opportunity to showcase Lagos' bold vision and tangible progress across transportation, housing, innovation, and industrial development.

The audience, made up of students from various parts of the world, reacted enthusiastically when Sanwo-Olu discussed the Blue Line, Africa’s first intra-city metro line, which has already served over two million passengers, averaging 42,000 daily commuters. He also highlighted the operational Red Line and the upcoming Green Line, which will connect Lagos Island to the Lekki-Epe corridor.

Sanwo-Olu also addressed the strides in education, including the establishment of two new universities, with a third, focused on medical sciences, on the horizon to meet the sector's growing demands.

With Lagos’ dynamic population, 60% of which is made up of young, tech-savvy individuals, the Governor emphasized the state's role as a leading tech hub in Nigeria.

He stressed the ambition to create a skilled workforce capable of meeting the demands of global tech giants like Microsoft and Amazon. "This is part of our 30-year Development Plan to build a human-centric economy," he said.

The Governor also highlighted Lagos' thriving tourism, arts, and culture sectors, referencing international events like fashion shows, film productions, and a movie produced in Lagos that was nominated for the Cannes Film Festival.

Other achievements discussed included significant developments in road infrastructure, with over 1,000 roads built or rehabilitated, as well as the construction of over 3,000 housing units. He also pointed out plans to increase the number of CNG buses for improved transportation and clean energy.

In the health sector, Sanwo-Olu noted ongoing projects, including a new General Hospital, a mental health facility, and a new Massey Street Children’s Hospital, which will be the largest of its kind in Sub-Saharan Africa.

The Governor concluded his presentation with a five-minute video showcasing Lagos’ skyline and investment potential, followed by a Q&A session. In response to student inquiries about energy needs, he highlighted the state's recent unbundling of the power sector, which now provides opportunities for investors in generation, distribution, and transmission.

“We can offer licenses and concession areas for you,” Sanwo-Olu said, encouraging investors to look to Lagos, where infrastructure development is still ongoing.

To the students' applause, Sanwo-Olu closed by advising them to invest in Lagos, noting that while some markets are saturated, Lagos remains in the phase of robust growth and development.