Vice President Kashim Shettima has said Nigeria’s ambition of attaining a one-trillion-dollar economy will be driven by enterprise, investment, and coordinated reforms across federal and subnational levels of government.
Shettima stated this on Monday in Lagos while declaring open the Invest Lagos 3.0 Summit held at Eko Hotel and Suites, Victoria Island.
He described Lagos State as a key model for subnational development and a major driver of Nigeria’s broader economic transformation agenda.
According to him, sustainable economic growth depends on creating an environment that enables capital inflow, innovation, and productive enterprise.
The Vice President said Lagos continues to stand out as Nigeria’s foremost commercial hub and one of Africa’s leading centres for investment and economic activity.
He further described the state as a “testing ground” for governance and economic ideas, noting that its progress reflects the impact of leadership continuity, institutional reforms, and private sector confidence.
Shettima also commended President Bola Ahmed Tinubu for laying the foundation of Lagos’ development model, which he said has continued to influence governance outcomes in the state.
He equally praised Governor Babajide Sanwo-Olu for sustaining economic momentum and strengthening investor confidence in Lagos.
Speaking on the summit theme, “Lagos: The Business Gateway to Africa,” Shettima said global cities are increasingly shaping trade, innovation, and investment flows.
He noted that Lagos benefits from strong access to markets, infrastructure, human capital, and financial systems, making it attractive to investors.
The Vice President reaffirmed the Federal Government’s commitment to ongoing economic reforms aimed at stabilising the macroeconomic environment and unlocking private sector investment.
He acknowledged that the reforms have been difficult but maintained that they are necessary for long-term economic stability and growth.
Shettima also highlighted Nigeria’s demographic advantage and opportunities under the African Continental Free Trade Area (AfCFTA), saying the country is well positioned to emerge as a leading African hub for production, logistics, and trade.
Earlier, Governor Babajide Sanwo-Olu said the summit reinforced Lagos’ position as an investment destination and gateway to opportunities across multiple sectors of the economy.
He said the state remains open to partnerships that will deepen growth in agriculture, health, transport, energy, technology, and commerce.
Other speakers, including the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and representatives of Afreximbank and the AfCFTA Secretariat, emphasised the importance of reforms, infrastructure development, and regional collaboration in driving economic growth.
The summit also featured a fireside chat with governors from Plateau, Nasarawa, Imo, Lagos, and Abia States, focusing on subnational development and investment opportunities across Nigeria.
