{"id":3116,"date":"2026-10-29T09:45:52","date_gmt":"2026-10-29T09:45:52","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/29\/lagos-targets-1tn-economy-by-2052-seeks-more-investment-businessday-ng-2\/"},"modified":"2026-10-29T09:45:52","modified_gmt":"2026-10-29T09:45:52","slug":"lagos-targets-1tn-economy-by-2052-seeks-more-investment-businessday-ng-2","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/29\/lagos-targets-1tn-economy-by-2052-seeks-more-investment-businessday-ng-2\/","title":{"rendered":"Lagos targets $1tn economy by 2052, seeks more investment \u2013 Businessday NG"},"content":{"rendered":"

Lagos State is targeting an economy worth nearly $1 trillion by 2052 as the government seeks to attract more investment, expand infrastructure and strengthen the state\u2019s position as a regional economic and financial hub.\n<\/p>\n

Babajide Sanwo-Olu, governor of Lagos State, said the government was committed to implementing the Lagos State Development Plan 2052, a long-term blueprint designed to promote sustainable growth and improve the state\u2019s global competitiveness.\n<\/p>\n

Sanwo-Olu spoke on Wednesday at the Lagos Executive Business Breakfast Meeting, organised by the Nigerian-British Chamber of Commerce (NBCC) in Lekki, Lagos, under the theme, \u201cThe Future of Lagos: Business, Investment and Global Competitiveness.\u201d\n<\/p>\n

The governor said the plan comprises 447 initiatives across 21 strategic sectors and is built around four pillars: a thriving economy, a human-centred city, modern infrastructure and effective governance.\n<\/p>\n

He called for sustained investment in infrastructure, technology and human capital, alongside business-friendly policies, to unlock Lagos\u2019 economic potential.<\/p>\n

According to him, improved port efficiency, technological innovation and increased investment have helped boost manufacturing, create jobs and strengthen economic activity across Nigeria.\n<\/p>\n

Sanwo-Olu said his administration, since assuming office on May 29, 2019, had created opportunities and positively affected the lives of millions of residents through governance and the delivery of public services.\n<\/p>\n

He said he hoped to be remembered as a governor who addressed the individual needs of Lagosians across sectors, including transportation, healthcare, education, economic empowerment, security and infrastructure.\n<\/p>\n

\u201cI would like to be remembered as a Governor who touched the lives of Lagos residents based on their individual needs,\u201d he said.\n<\/p>\n

Highlighting his administration\u2019s efforts to improve the state\u2019s competitiveness, Sanwo-Olu cited the development of the Blue and Red rail lines, improvements in electricity regulation, expanded digital connectivity and investments in healthcare and education.<\/p>\n

He also identified the Lekki Deep Sea Port, industrial developments and the expansion of Lagos\u2019 technology and creative sectors as important drivers of economic growth and regional trade.\n<\/p>\n

The governor said the state was strengthening support for small and medium-sized enterprises through financing and grants, while promoting innovation and developing a skilled workforce to meet the demands of emerging industries.\n<\/p>\n

He disclosed that Lagos State\u2019s budget had increased from about N700 billion in 2019 to N4.2 trillion in 2026, reflecting growing investment requirements and the need to improve revenue generation to sustain development.\n<\/p>\n

In his remarks, Abimbola Olashore, president and chairman of the NBCC, called for stronger collaboration among government, businesses and investors to improve the business environment, attract investment and strengthen Lagos\u2019 global competitiveness.\n<\/p>\n

Olashore reaffirmed the chamber\u2019s commitment to promoting trade and investment relations between Nigeria and the United Kingdom.<\/p>\n

\n\t\t\t\t\t\t\"\"\t\t\t\t\t\t<\/p>\n
\n\t\t\t\t\t\t\tTaofeek Oyedokun<\/a><\/strong><\/p>\n

Taofeek Oyedokun is a correspondent at BusinessDay with years of experience reporting on political economy, public policy, migration, environment\/climate change, and social justice. A graduate of Political Science from the University of Lagos, he has also earned multiple professional certificates in journalism and media-related training. Known for his clear, data-driven reporting, Oyedokun covers a wide range of national and international socioeconomic issues, bringing depth, balance, and public-interest focus to his work.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

Lagos State is targeting an economy worth nearly $1 trillion by 2052 as the government seeks to attract more investment, expand infrastructure and strengthen the state\u2019s position as a regional… <\/p>\n","protected":false},"author":1,"featured_media":3117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=3116"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/3117"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=3116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=3116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=3116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}