The Federal Government and five state governors on Monday intensified efforts to attract local and foreign investments, unveiling opportunities worth over N4 trillion across critical sectors at the ongoing Invest in Lagos 3.0 Summit in Victoria Island, Lagos.

The summit, themed “Lagos: The Business Gateway to Africa,” brought together more than 600 high-level delegates, including global investors, sovereign wealth funds, development finance institutions, multilateral organisations, structured finance specialists, trade networks across the Commonwealth, innovators and senior government officials.

Representatives of the Presidency, alongside Governors Babajide Sanwo-Olu of Lagos State, Alex Otti of Abia State, Hope Uzodinma of Imo State, Caleb Mutfwang of Plateau State and Abdullahi Sule of Nasarawa State, showcased investment opportunities within their respective jurisdictions, assuring investors of favourable business environments and strong returns on investment.

Speaking at the summit, Minister of Finance and Coordinating Minister of the Economy, Dr. Taiwo Oyedele, reiterated the Federal Government’s commitment to creating an enabling environment for businesses through far-reaching fiscal reforms.

According to him, the recently enacted tax reform laws are designed to eliminate multiple taxation, improve compliance and provide incentives for businesses, particularly Small and Medium Enterprises (SMEs).

Oyedele explained that the reforms would significantly reduce the burden of doing business while boosting investor confidence.

In his presentation, Lagos State Governor Babajide Sanwo-Olu called for increased private sector participation in infrastructure development, particularly in transportation, water supply, technology and agriculture.
He stressed that Lagos still has enormous untapped opportunities capable of generating substantial returns for investors while addressing the state’s infrastructure deficit.

“We have opportunities in water infrastructure. Although we are already benefiting from some credit facilities, there remains significant room for investment in the sector,” Sanwo-Olu said.

The governor identified transportation as one of the most critical sectors requiring investment, noting that solving mobility challenges would unlock Lagos’ enormous economic potential.

“If we solve transportation issues in Lagos, what we are doing is unlocking economic potential. Travel time will be significantly reduced, people will move more efficiently, productivity will improve and businesses will benefit,” he said.

According to him, efficient rail and water transportation systems would boost economic activities, reduce costs and enhance the ease of doing business.
“It keeps money in people’s pockets and enables them to transact more effectively. Investors can confidently track returns because the numbers and the population are there,” he stated.

Sanwo-Olu also highlighted the state’s growing technology ecosystem, revealing ongoing investments in fibre connectivity and data infrastructure aimed at attracting global technology firms.

“Today, we are not just building data centres; we are also expanding fibre connectivity across the city. The future is technology,” he said.

He noted that while Lagos has already begun developing hyperscale data centre infrastructure, significant opportunities still exist for investors interested in technology and digital infrastructure.

On agriculture, the governor described Lagos’ estimated population of over 24 million people as a major market advantage for investors in food production, processing and logistics.

“With between 24 and 25 million residents, Lagos offers a ready market. We need more processing plants and more agro-processing investments,” he said.

He disclosed that the state is developing a central logistics park and other supporting infrastructure to strengthen food supply chains and enhance food security.

Abia State Governor Alex Otti, on his part, said his administration is transforming Aba and other major commercial hubs to enhance productivity and attract investment.

He noted that ongoing reforms in the power sector have enabled several communities to enjoy uninterrupted electricity supply, creating a more conducive environment for businesses.

Otti also revealed that the state’s airport infrastructure is undergoing significant upgrades to facilitate easier movement of investors and business travellers.

Similarly, Imo State Governor Hope Uzodinma said his administration is addressing longstanding infrastructure deficits as part of efforts to reposition the state as a preferred destination for investment.

According to him, the government is laying the foundation for industrialisation and sustainable internally generated revenue growth by improving infrastructure and creating a business-friendly environment.

Nasarawa State Governor Abdullahi Sule highlighted the state’s vast agricultural potential and strategic proximity to the Federal Capital Territory, Abuja, as major investment attractions.

He explained that the state is deepening reforms in the agricultural sector while leveraging increasing urban expansion from Abuja to attract businesses and residents seeking alternative growth locations.

The governors collectively assured investors of policy consistency, tax incentives, infrastructure support and investor-friendly regulations designed to guarantee profitable returns.