• Charges Commonwealth states to bring capital, technology, expertise to Lagos
Segun James
Governor Babajide Sanwo-Olu of Lagos State on Monday charged the Commonwealth’s 56-member states to invest in Africa, particularly Lagos.
Sanwo-Olu said Commonwealth member states should bring their capital, technology, and other expertise, promising that they will find not just market and opportunity, but also partnership and relationship.
He said the Commonwealth’s greatest advantage was not simply its shared language, shared laws or shared history but also its people. He said nowhere was that advantage more vivid, dynamic or consequential than in Africa.
Addressing the opening ceremony of the Commonwealth Trade and Investment Summit held at Mansion House, London, on Monday, Sanwo-Olu said Lagos was ready for partnerships and relationships with global investors.
The theme of the opening session was, “The Commonwealth’s Advantage.”
The event was attended by Chairman of the Commonwealth Enterprise and Investment Council, Lord Marland; Secretary-General of the Commonwealth, Shirley Botchwey; Deputy Prime Minister of Malta, Dr Ian Borg; Lady Mayor of the City of London Corporation, Dame Susan Langley; Heads of Government; Ministers; High Commissioners; Captains of Industry; Global Investors; and Business Leaders, among others.
Sanwo-Olu, who was the keynote speaker, stated, “Africa is home to the world’s youngest population. By 2050, one in four people on this earth will be African. The Commonwealth already counts 56-member states with a combined population of 2.7 billion.
“A significant and growing share of that number lives on our continent. If the Commonwealth is to remain relevant — not merely as a sentimental compact, but as a genuine engine of global trade and investment — then Africa must be central to its strategy. And within Africa, Lagos must be part of that conversation.
“We live in an age of fracturing – of retreating globalisation, of tariff walls rising like storm barricades, of geopolitical uncertainty that rattles supply chains and spooks investors. In such a moment, the Commonwealth offers something rare and valuable: a network built not on fear, but on trust.”
Sanwo-Olu explained, “Fifty-six nations that share foundational commitments — to the rule of law, to democratic governance, and to open markets — constitute a remarkable platform for doing business with confidence.
“The Commonwealth’s advantage will only be fully unlocked when we treat emerging markets not as recipients of investment but as partners in shaping the terms of it.
“That is why we welcome frameworks like blended finance and support AfCFTA — the African Continental Free Trade Area — which has the potential to create the world’s largest single market by GDP coverage.
“And that is why Lagos is investing in its port, its airport, its rail corridors, and its technology infrastructure — because we understand that to attract global capital, you must first build the foundations that make capital feel at home.”
Speaking on Lagos State and his administration’s commitment to delivering the dividends of democracy to over 20 million residents through the THEMES+ developmental agenda, Sanwo-Olu said, “Lagos is Nigeria’s economic capital. It generates roughly a third of Nigeria’s GDP, and, were it a standalone economy, it would rank among the top five in sub-Saharan Africa.
“In 2023, we were re-elected on a mandate to deepen what we had started – to transform Lagos into a twenty-first-century megacity that works for its people.
“We are delivering on that mandate. Amongst many other things, our Blue Line and Red Line rail projects are now operational — the first metro rail system in West Africa. We are about to commission one of the continent’s largest children’s hospitals, and we are digitising our revenue and land administration systems.”
He stated, “We have invested heavily in road infrastructure, in water, in security, and in social inclusion. And we are doing this not simply by waiting for government budgets but by actively courting, structuring, and sustaining public-private partnerships with investors from across the Commonwealth and beyond.
“Our T.H.E.M.E.S.+ Agenda — covering Transportation, Health, Education, the Economy, the Making of a 21st Century State, Entertainment and Tourism, Security, and critically, the ‘+’ of social inclusion, gender equity, and youth empowerment — is not a campaign document. It is a governance architecture. And I say to every investor in this room: that architecture is open for business.”
Sanwo-Olu disclosed that the state will host Invest in Lagos 3.0, its flagship investment promotion summit, on June 8 and 9 at Eko Hotels and Suites, Victoria Island. He said the edition will be convened in strategic partnership with the Commonwealth Enterprise and Investment Council.
According to Sanwo-Olu, “Invest in Lagos is not a conference. It is a transaction platform and the premier occasion through which Lagos State formally engages the global investment community—presenting the state’s economic potential, its enabling policy environment, and the specific, bankable opportunities available to domestic and foreign investors across every major sector of our economy.
“Invest in Lagos 3.0 represents a decisive step forward in scale and ambition. Our partnership with CWEIC means that for the first time, the summit will be actively positioned to attract international delegates and investors from across the Commonwealth – expanding its reach, deepening its impact, and firmly situating Lagos within the broader architecture of Commonwealth trade and investment.”
Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, while speaking during a plenary session, tagged, “Mobilising Capital for Growth in Emerging Markets,” delved in practical terms into what Lagos was doing and what the state needed from the comity of nations.
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