Sanwo-Olu: Nigeria Can Grow Faster By Leveraging Lagos

Lagos State Governor Babajide Sanwo-Olu has called for a strategic national focus on Lagos as a critical engine for Nigeria’s growth, stating that the country can accelerate its journey to economic prosperity and global relevance by fully leveraging the State’s economic and innovation potential. .. Read ..Full.. Article.. .

Delivering the inaugural Distinguished Lecture Series of the Nigerian Institute of International Affairs (NIIA) in Victoria Island on Tuesday, the governor presented a compelling vision for Nigeria’s emergence as a global power, anchored on its most valuable asset — the youth — and the pivotal role of Lagos.

Sanwo-Olu, speaking on the theme “Lagos and Nigeria 2030: Projections of a World Power,” emphasised that the state functions as a national laboratory for innovation and policy experimentation, and must be treated as such if Nigeria is to reach its developmental ambitions.

He reiterated the call for a special status for Lagos, not as a request for favouritism, but as a key strategy towards national growth and development.

“There is no contesting the fact that Lagos is the beating heart of Nigeria; the reason why the nation became a regional and continental leader today. Nigeria’s capacity to convert every remaining ounce of raw potential that we possess, into the hard currency of world power and global influence will depend, to a large extent, on Lagos,” Sanwo-Olu said.

“Among the many fascinating concepts that Lagos embodies, within the context of Nigeria, is that of a national policy and innovation laboratory, where national experiments have been and will continue to be piloted and fine-tuned for rollout to the entire country, not just in other States but even also at the federal level.

“Our advocacy for the conferment of a special status on Lagos is not because the rest of Nigeria doesn’t matter. No. Instead, what we are saying is that Nigeria can scale up its growth and development by approaching and treating Lagos as a pivotal leverage that can help unleash collective national potential.”

Sanwo-Olu highlighted the demographic advantage of Nigeria’s youthful population, citing estimates that place over 100 million Nigerians under the age of 20.

He described this group as a transformative force that, if properly trained and harnessed, could drive Nigeria’s emergence as a global economic powerhouse.

“We must now focus wholly on maximising our talents and potential to unlock our power to the fullest, especially in those fields and arenas in which we are still lagging behind. We must do this while also consolidating and conquering new ground in the spheres in which we have already demonstrated strength.

“Our most important assets, above our oil and gas and above our marine and forest wealth, are the people.

“Today, Nigeria has one of the largest populations of young people in the world, estimated to be 100 million people under the age of 20. This makes it impossible to envision the workforce of the 21st century without fully accounting for Nigeria. This is an extraordinary asset, but only if properly harnessed,” he said.

The governor pointed to the reforms initiated by President Bola Tinubu’s administration — including the removal of fuel subsidies, foreign exchange unification, and fiscal policy overhauls — as necessary steps toward achieving the national goal of a $1tn economy by 2030.

The Director-General of NIIA, Prof. Eghosa Osaghae, hailed Sanwo-Olu as the first sitting governor to deliver the prestigious lecture in the Institute’s 64-year history.

He affirmed that Lagos has now surpassed Johannesburg as Africa’s foremost economic capital.

“This State serves as a receptacle for enterprise, commerce, economic growth, culture, and..  Read . .More