Lagos State Deputy Governor, Dr. Obafemi Kadri Hamzat, has reaffirmed the state’s commitment to building Africa’s most competitive sub-national economy through strategic investments, innovation and business-friendly policies designed to attract local and international investors.
Eko Hot News reports that Hamzat made the remarks during an interview facilitated by the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) at his Ikoyi residence. He said the Lagos State Government remains focused on creating an economy that can compete with leading global cities.
The Deputy Governor noted that Lagos continues to strengthen its position as Nigeria’s commercial and financial hub while serving as the gateway to Africa’s expanding consumer market. He attributed the state’s growth to consistent economic reforms, institutional improvements and investor-friendly policies.
According to Hamzat, the administration of Governor Babajide Sanwo-Olu is deliberately investing in critical sectors such as innovation, industrialisation, agriculture, healthcare, education and infrastructure to sustain economic growth and improve the quality of life for residents.
He stressed that the government’s vision is to transform Lagos into a model city capable of competing with any global business destination. He added that the administration remains committed to maintaining a safe, secure and business-ready environment that encourages enterprise and investment.
Hamzat described Lagos as the first choice for international investors seeking opportunities in Nigeria. He explained that the state accounts for the largest share of commercial and financial transactions in the country while making significant contributions to Nigeria’s economic output.
He said Lagos has continued to implement policies that strengthen productivity across key sectors, creating a favourable environment for businesses of all sizes to flourish.
Speaking on agriculture, the Deputy Governor said the state is expanding investment in agribusiness through improved infrastructure, logistics and investment support. He revealed that Lagos is developing one of Nigeria’s largest food hubs to enhance food production, distribution and food security.
Hamzat explained that the initiative forms part of broader efforts to modernise the agricultural value chain while creating employment opportunities and boosting economic diversification across the state.
The Deputy Governor also highlighted the state’s commitment to technology and innovation. He disclosed that Lagos is advancing the Lagos Innovation Bill while strengthening the Lagos State Science, Research and Innovation framework to encourage creativity and entrepreneurship.
According to him, government support includes research funding, grants, mentorship programmes and strategic collaboration with the private sector to help young innovators transform ideas into successful businesses.
He said Lagos has created an ecosystem where innovation can thrive through legal protections for intellectual property and stronger partnerships between government, investors and technology-driven enterprises.
Hamzat noted that investments in healthcare technology have improved collaboration between primary healthcare centres and general hospitals across the state. He said the integrated approach is enhancing healthcare delivery and expanding access to quality medical services for residents.
Commenting on Nigeria’s economic outlook, the Deputy Governor expressed confidence that ongoing macroeconomic reforms are restoring investor confidence and improving the country’s investment climate.
He observed that greater policy clarity and economic stability at both the federal and state levels are encouraging investors to explore new opportunities in Nigeria.
According to Hamzat, Lagos is building on these reforms by implementing policies that promote industrialisation, innovation and sustainable enterprise development.
The Deputy Governor also highlighted landmark projects driving Lagos’ industrial growth, including the state’s Industrial Policy, the Lagos Rice Mill, investor-focused Deal Book and strategic infrastructure initiatives designed to simplify business operations.
He explained that these projects are strengthening the state’s competitiveness while attracting increased domestic and foreign investment.
Hamzat expressed optimism about Nigeria’s economic future, noting that sound financial management and ongoing reforms are laying the foundation for long-term prosperity.
He said Lagos will continue to align its development agenda with policies that create jobs, stimulate investment and improve living standards for residents.
The Deputy Governor also praised the longstanding relationship between Nigeria and the United States, describing bilateral cooperation as an important driver of trade, innovation and economic development.
He noted that stronger international partnerships will further enhance investment opportunities while supporting sustainable economic growth across Lagos and Nigeria.
Speaking on the state’s long-term vision, Hamzat said Lagos remains committed to building an inclusive economy driven by innovation, technology and sustainable development.
He explained that the government will continue implementing policies that empower entrepreneurs, improve infrastructure and strengthen investor confidence.
The Deputy Governor reaffirmed that Lagos welcomes investors from across the world, assuring them of an enabling business environment supported by transparent governance and strategic economic planning.
He added that attracting quality investments would not only strengthen Lagos’ economy but also contribute significantly to Nigeria’s economic growth and Africa’s development.
The Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose-Medebem, also reaffirmed the ministry’s commitment to promoting Lagos as a leading investment destination through strategic engagements with international stakeholders.
A global media organisation collaborating with USA Today, forms part of efforts to showcase Lagos’ economic opportunities to a wider international audience and attract more global investments.
As Lagos continues implementing investor-focused reforms, the state government says it remains committed to creating an economy that encourages innovation, supports enterprise development and delivers sustainable prosperity for residents while reinforcing its position as Africa’s premier investment hub.
