By our Reporter
Governor Babajide Sanwo-Olu of Lagos State, has declared that Lagos is strategically positioned as Africa’s leading geoeconomic hub, leveraging its strengths in trade, infrastructure, finance, technology, and human capital to drive prosperity across Nigeria, West Africa, and the global economy.
Speaking at the maiden edition of the Geo-Economic Optimization Summit Lagos 2026, organised by the Citadel School of Government in Oregun, Lagos, on Saturday, Governor Sanwo-Olu said the emerging global order increasingly rewards economic influence driven by strategic assets such as ports, data centres, logistics networks, and supply chains.
Delivering a keynote address titled “From South-West Nigeria to the Globe: Lagos State as a Geoeconomic Hub,” the governor highlighted Lagos’ economic significance, noting that the state contributes approximately one-third of Nigeria’s Gross Domestic Product and ranks as Africa’s second-largest metropolitan economy after Cairo, with an output exceeding $259.75 billion on a purchasing-power-parity basis.
According to him, if Lagos were a sovereign nation, it would rank as Africa’s eighth-largest economy, driven by a diversified economic base spanning finance, technology, trade, logistics, creative industries, and the blue economy.
“Lagos is a sub-national economy that carries the weight of a nation. As Nigeria’s commercial and financial nerve centre and its busiest gateway for trade and investment, Lagos carries a responsibility that reaches far beyond its borders. When Lagos works, Nigeria works the better for it,” Sanwo-Olu said.
The governor stressed the need for stronger regional cooperation and economic integration among Nigerian states, particularly within the South-West, describing collaboration as essential for sustainable growth and shared prosperity.
“As leaders, we must think regionally, act strategically and cooperate generously, because no single state captures the whole prize alone,” he stated.
Sanwo-Olu reaffirmed Lagos’ commitment to fostering regional development through platforms such as the Odu’a Group, the Development Agenda for Western Nigeria (DAWN) Commission, and the South West Development Commission.
He also highlighted ongoing investments in critical infrastructure, including the operational Blue and Red Rail Lines, the proposed Green Line rail project, upgrades to the Lagos-Badagry Expressway, electricity sector reforms, and federal-backed projects such as the 700-kilometre Coastal Highway and the over 1,000-kilometre Sokoto-Badagry Superhighway.
The governor reiterated his administration’s push for a constitutional “special status” for Lagos, citing its strategic national importance, historical role as Nigeria’s former federal capital, and the enormous pressures associated with hosting an estimated one-tenth of the country’s population.
“We believe Lagos deserves that recognition, and we will continue to seek a constitutional provision to guarantee it,” he said.
Sanwo-Olu also assured local and foreign investors that Lagos remains open for business and ready to partner with governments, institutions, and private-sector stakeholders across Nigeria and beyond.
In his remarks, the Founder and Board Chairman of the Citadel School of Government, Pastor Tunde Bakare, described Lagos as a model for economic transformation and a blueprint for other regions seeking sustainable development.
Bakare said Lagos demonstrates how strategic vision, institutional continuity, and sustained investment can transform a sub-national entity into a globally relevant economic powerhouse.
“Lagos is Nigeria’s most economically viable state and a model of progressive continuity in development planning and execution throughout the Fourth Republic,” he said.
He added that the Lagos experience offers valuable lessons for the emergence of multiple economic hubs across Nigeria’s geopolitical zones, each leveraging its comparative advantages to connect with regional and global markets.
Also speaking, Executive Director of the University of Lagos Business School, Prof. Sunday Adebisi, described Lagos as the geoeconomic engine of West Africa, stressing the need to build stronger institutions, knowledge systems, and governance frameworks capable of managing a rapidly growing global city.
According to him, the future of Lagos lies in deliberately assembling an ecosystem of talent, infrastructure, innovation, and governance that can support its ambitions as a continental trade gateway, maritime logistics hub, and global technology centre.
Earlier, the Executive Director of the Citadel School of Government, Mr. Omoaholo Omoakhalen, said the summit was conceived to stimulate conversations on harnessing the economic potential of Nigeria’s regions, states, and communities to build a more prosperous, peaceful, and globally competitive nation.
