Lagos State Governor, Babajide Olusola Sanwo-Olu, has launched the third edition of the Lagos Economic Development Update (LEDU 2026).
Eko Hot News reports that the launch took place at the Marriott Hotel in Ikeja, bringing together policymakers, economists and stakeholders.
The Governor, represented by Deputy Governor Kadri Obafemi Hamzat, described LEDU as a key guide for the state’s economic direction.
He noted that the initiative has evolved into a strategic tool shaping policy decisions and long-term planning.
Sanwo-Olu emphasised the state’s commitment to building a resilient and inclusive economy.
He stated that Lagos will continue to focus on economic diversification to reduce dependence on limited sectors.
The Governor highlighted the importance of supporting private sector growth as a driver of economic expansion.
He noted that enterprise development remains central to sustainable progress.
Sanwo-Olu also reaffirmed the administration’s focus on data-driven governance.
He explained that policies are designed based on reliable data to ensure effectiveness and impact.
The government, he said, will continue to balance urban growth with environmental sustainability.
He added that social inclusion remains a priority to ensure equal opportunities for all residents.
The Governor highlighted achievements recorded under the initiative.
These include improved revenue generation, infrastructure development and investments in human capital.
He noted that these outcomes are a result of deliberate planning and strategic execution.
Speaking on the theme, “Consolidating Resilience, Advancing Competitiveness, Delivering Shared Prosperity,” Sanwo-Olu stressed the importance of sustained progress.
He explained that strengthening resilience involves building strong institutions and sound fiscal policies.
He added that advancing competitiveness requires innovation and a supportive business environment.
According to him, shared prosperity ensures that economic growth benefits all segments of society.
Sanwo-Olu acknowledged global economic challenges affecting growth.
He mentioned inflation, exchange rate fluctuations and post-pandemic recovery pressures.
Despite these challenges, he said Lagos has remained stable through disciplined governance.
He credited the achievements to the implementation of the THEMES Plus Agenda.
The Governor called on stakeholders to strengthen collaboration and align with the state’s vision.
He urged participants to translate economic gains into tangible improvements in living standards.
In his goodwill message, Chairman of the House Committee on Economic Planning and Budget, Olumoh Saad Lukman, highlighted the importance of data in governance.
He noted that infrastructure projects in Lagos are based on identified needs and evidence.
According to him, ongoing transport developments reflect careful planning and strategic decisions.
The Commissioner for Economic Planning and Budget, Ope George, also addressed participants.
He stated that Lagos has maintained steady growth through disciplined fiscal management and policy implementation.
George noted that the state continues to strengthen its position as a leading economic hub.
Chairman of the South West Development Commission, Olubunmi Adetunmbi, praised Lagos for its governance model.
He described the state as a benchmark for economic management at the subnational level.
Adetunmbi noted that Lagos continues to drive national growth through its expanding economy.
In his keynote address, CEO of the Nigerian Economic Summit Group, Tayo Aduloju, highlighted Lagos’ resilience.
He stated that the state remains attractive to investors and continues to grow steadily.
Aduloju emphasised the need for inclusive growth that benefits a wider segment of the population.
He called for stronger social support systems and investment in workforce development.
The launch of LEDU 2026 reinforced Lagos State’s commitment to sustainable economic progress.
It also highlighted the importance of collaboration, innovation and strategic planning in driving growth.
