Vice President Kashim Shettima on Monday described Lagos State as an emerging gateway to global wealth and investment, saying the state is strategically positioned to drive Africa’s next phase of economic growth.

Speaking at the opening of the third edition of Invest Lagos 2026 in Victoria Island, Shettima said Lagos has continued to distinguish itself as a leading destination for business expansion, innovation and long-term investment on the continent.

He described Lagos as a gateway to Africa’s economic future and a critical hub for global investors seeking opportunities in emerging markets.

According to the vice president, Nigeria possesses the demographic advantage, entrepreneurial capacity and economic potential to rank among the world’s largest economies by 2050 if it sustains investment in innovation, infrastructure and effective leadership.

Shettima attributed Lagos’ status as Africa’s commercial nerve centre to deliberate economic policies, strong institutions and a business-friendly environment that continues to attract multinational corporations and foreign direct investment.

He also reaffirmed the Federal Government’s commitment to working with state governments and the private sector to improve infrastructure, expand trade opportunities and enhance the ease of doing business across the country.

In his remarks, Lagos State Governor Babajide Sanwo-Olu said the state has consistently implemented policies aimed at attracting investment, supporting innovation and creating an enabling environment for businesses.

He said the Lagos State Government remains focused on building a resilient economy capable of attracting both local and foreign investment while generating jobs and opportunities for residents.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said ongoing economic reforms are improving Nigeria’s investment climate and strengthening investor confidence.

Oyedele noted that recent fiscal and tax policy measures are creating new opportunities for economic growth at the sub-national level and making states more attractive to investors.

Also speaking, Commonwealth Secretary-General Shirley Botchwey called for stronger regional cooperation to unlock Africa’s economic potential.

She identified reliable power supply, efficient logistics networks and improved security as critical requirements for sustainable growth across the continent.

Botchwey urged African leaders to leverage innovation and the continent’s growing talent pool to drive job creation and long-term economic development.

The conference, themed “Lagos: Business Gateway to Africa, Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership,” brought together policymakers, investors, business leaders and development partners to discuss strategies for expanding economic opportunities across Nigeria and Africa.

A major highlight of the event was the Governors’ Investment Showcase, where governors from Lagos, Abia, Imo, Nasarawa and Plateau states presented investment opportunities across key sectors of their economies to prospective investors.

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