Governor Babajide Sanwo-Olu has reffirmed his administration’s commitment to building a robust, inclusive and globally-competitive economy.

Sanwo-Olu gave the assurance  at the inauguration of the third edition of the Lagos Economic Development Update 2026 in Lagos. The event was organised by Lagos Ministry of Economic Planning and Budget.

LEDU is a strategic platform that helps to shape economic thinking, strengthen policy direction and reinforce collective commitment to sustainable growth of Lagos State.

Mr Sanwo-Olu said that the event highlighted his administration’s focus on fortifying institutions, unlocking productivity, and creating enabling environment for businesses to thrive. He said that his administration would drive economic diversification, support private sector-led growth, and promote social inclusion.

The governor listed  achievements of the state to include strengthened fiscal framework, improved revenue generation, and investments in critical infrastructure, such as roads, ports, energy and urban planning.

He  noted that the state had expanded its economic base, supported innovation, entrepreneurship, digitisation, and investment in human capital development.

Mr Sanwo-Olu outlined key strategies to include deepening data-driven governance, pursuing sustainable urban development, and promoting social inclusion to ensure no one would be left behind. He called on stakeholders to engage actively, strengthen collaboration and align with the vision.

According to him, Lagos stands at a pivotal point in its economic journey.

Olumoh Lukman, chairman of the  Lagos State House of Assembly Committee on Economic Planning and Budget, said that the government prioritised the use of data from both primary and secondary sources to ensure efficient services to the people.

In his keynote address, CEO of the Nigerian Economic Summit Group, Tayo Aduloju, said that Lagos’ resilience and steady growth trajectory had continued to position it as a leading subnational economy in Africa.

Mr Aduloju added that the state had continued to attract investors, tourists and migrants, reinforcing its status as a dynamic economic hub comparable to global cities experiencing similar expansion pressures. He said that growth must positively impact the bottom 40 per cent of the population in line with global development benchmarks.

He urged disciplined execution of policies, expansion of social safety nets, and sustained investment in human capital development.

According to him, achieving shared prosperity will depend on the state’s ability to translate its economic growth into tangible improvements in the quality of life of  all the residents.

(NAN)