Sanwo-Olu Puts 25m Lagosians at Centre of Global Governance Award

Kehinde Adeleye

Lagos State Governor, Babajide Sanwo Olu, has used his receipt of the 2026 Global Transformation and Good Governance Prize in Washington, D.C., to put the interests and economic potential of more than 25 million Lagosians at the centre of his international engagement.

Sanwo Olu, who received the award at the Warner Theatre in Washington, said he accepted the recognition on behalf of the people of Lagos, using the platform to showcase the state’s economic strength, infrastructure and growing opportunities to potential investors.

“I accepted the award on behalf of more than 25 million Lagosians and used the opportunity to make the case for Lagos as one of Africa’s most compelling investment destinations,” the governor said.

Rather than treating the recognition as a personal achievement, Sanwo Olu presented it as an opportunity to attract investments capable of creating more businesses, jobs and economic opportunities for residents of the state.

He said the future of African investment would increasingly be shaped by cities that are able to connect infrastructure with markets, provide an environment for businesses to grow and create opportunities for their residents.

“The future of African investment will be shaped by cities where infrastructure connects markets, businesses can grow and people can access opportunity. Lagos is already building in that direction,” he said.

The governor pointed to the size and economic influence of Lagos, noting that the state occupies less than 0.5 per cent of Nigeria’s landmass but generates more than a quarter of the country’s economic output.

He put the estimated size of the Lagos economy at about $259 billion, stressing that the state was working towards an economy less dependent on crude oil revenues by strengthening other sectors.

Sanwo Olu also highlighted the state’s N4.4 trillion 2026 budget, saying more than half of it was being committed to capital projects, while internally generated revenue was projected to exceed N3 trillion.

For the governor, the figures represent more than economic statistics, but the scale of the opportunities available to investors and the potential benefits such investments could bring to Lagos residents.

He also showcased Lagos’ technology and business ecosystem, describing the state as home to sub Saharan Africa’s leading startup ecosystem, valued at about $8.6 billion, with 3 active unicorns.

Sanwo Olu further drew attention to major infrastructure projects, including the $1.5 billion Lekki Deep Sea Port, which he said handles about 40 per cent of Nigeria’s cargo, and the 650,000 barrel per day Lekki Refinery.

He also highlighted improvements in public transportation, saying the Blue Line rail service had carried more than 8 million passengers, while the deployment of new 8 car trains was expected to increase the Red Line’s capacity to 500,000 passengers daily.

The governor cited the €410 million Omi Eko project, which will see Lagos deploy 75 electric ferries across 15 water routes, as another example of the state’s efforts to expand transportation infrastructure and improve mobility for residents.

Sanwo Olu said Lagos was positioning itself for the future as Africa’s population becomes increasingly urbanised, stressing that investors should pay close attention to cities where governance, infrastructure and execution are creating real opportunities.

“By 2050, Africa will add nearly one billion urban residents. If you want to invest in Africa, look closely at the cities where governance, infrastructure and execution are creating real opportunities,” he said.

The governor’s message in Washington therefore went beyond receiving an international award, as he used the occasion to present Lagos and its more than 25 million residents as beneficiaries of the state’s expanding economic and infrastructure opportunities.