Vice President Kashim Shettima says Nigeria’s ambition of building a one-trillion-dollar economy is driven by enterprise, investment and coordinated reforms across all levels of government.
VP Shettima particularly identified Lagos State as the clearest demonstration of how sub-national leadership can accelerate national economic transformation.
Speaking on Monday when he declared open the Invest Lagos 3.0 Summit held in Lagos, he said; “the country’s economic future depends on creating conditions that allow capital, innovation and productive enterprise to thrive.”
Addressing an audience of policymakers, global investors, entrepreneurs, development institutions and business leaders, VP Shettima said; “Lagos has continued to distinguish itself as Nigeria’s foremost economic gateway and one of Africa’s most influential centres for commerce and investment.”
He described the state as more than a commercial capital, noting that the city remains a testing ground for ideas, governance and economic execution.
“Lagos is the livewire of our continent. Lagos is the furnace in which our ideas are tested against the discipline of execution. Lagos is the great doorway through which Nigeria continues to greet the future,” the Vice President said.
The Vice President further said Lagos State has repeatedly shown that economic progress is achievable when vision is matched with competent leadership, institutional continuity, and private sector confidence.
Growth Trajectory
He credited the former nation’s capital’s growth trajectory to leadership that has sustained long-term planning and governance reforms since Nigeria’s return to democratic rule.
The VP praised President Bola Tinubu for laying the foundation of the Lagos development model, describing it as a governance tradition that has created continuity and positioned the state as a continental economic force.
“President Bola Ahmed Tinubu planted the tree whose shade has sheltered a succession of leaders committed to futurist ideas, institutional continuity and disciplined governance,” he stated.
VP Shettima also commended Governor Babajide Sanwo-Olu for sustaining Lagos’ growth momentum and strengthening its attractiveness as a destination for investment and business expansion.
Referring to the summit’s theme, “Lagos: The Business Gateway to Africa,” the Vice President said the gathering reflects an emerging global reality where cities increasingly shape production systems, supply chains, innovation networks, and investment flows.
He noted that Lagos has continued to attract investors because of its access to markets, infrastructure, talent and financial opportunities.
The Vice President reaffirmed the Tinubu administration’s economic agenda, stating that recent macroeconomic reforms were deliberately designed to restore market confidence, improve fiscal sustainability and unlock large-scale private investment.
He acknowledged that some of the decisions undertaken by government have been difficult, maintaining, however, that sustainable prosperity requires structural discipline and economic realism.
Lagos State Governor, Babajide Sanwo-Olu said the forum was reinforcing Lagos’ status as an investment-ready destination that offers a veritable gateway and platform for investors to tap from the abundant resources across different sectors.
Acknowledging the contribution, vision and foundation for a new Lagos laid by President Tinubu some years ago, Governor Sanwo-Olu said; “the President’s continuous support for and commitment to rapid sub-national development remained unprecedented.”
He also outlined the achievements of his administration in agriculture, health, human capital development, transport, energy, technology, trade and commerce, assuring investors of the emerging shift to sub-national growth that is anchored by the Federal Government which according to him, Lagos represents.
Gains
Minister of Finance, Mr Taiwo Oyedele said one of the gains of the Tinubu administration’s audacious reforms was the re-emergence of Lagos as the shining light of sub-national development across critical sectors, including trade and commerce.
Mr Oyedele said the Nigerian Government, under the leadership of President Tinubu, has over the past two years taken far-reaching decisions to dismantle structural deficiencies in Nigeria’s economy.
He noted that the resilience of the economy was already manifesting across different sectors and in the sub-nationals.
