Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has reaffirmed his administration’s commitment to strengthening regional trade, improving infrastructure and expanding economic opportunities through the African Continental Free Trade Area (AfCFTA).
Speaking at the 32nd Nigerian Economic Summit in Abuja, the Governor emphasised the importance of developing regional growth corridors to accelerate economic integration, attract investments and position Nigeria as a major player in Africa’s expanding market.
Sanwo-Olu noted that Lagos remains a strategic economic hub where innovation, entrepreneurship and investment opportunities converge to drive sustainable development.
According to him, investments in critical infrastructure, including roads, rail networks, efficient ports, reliable electricity, broadband connectivity and logistics facilities, are essential for improving trade efficiency and reducing transportation costs.
The Governor stressed the need for stronger collaboration among government institutions, financial organisations and private investors to support small and medium-sized enterprises.
He explained that improved access to finance, simplified digital services and targeted business support would enable Nigerian enterprises to increase productivity, meet international standards and compete effectively across African markets.
Sanwo-Olu further advocated streamlined customs procedures, efficient border operations and harmonised trade standards to eliminate unnecessary barriers affecting cross-border commerce.
He highlighted the importance of strengthening the ECOWAS Trade Liberalisation Scheme alongside AfCFTA implementation to expand market access for Nigerian products and encourage regional economic cooperation.
The Governor maintained that efficient transportation corridors would significantly reduce delays, strengthen supply chains and lower business operating costs.
Reiterating his administration’s development priorities, Sanwo-Olu assured that Lagos would continue implementing policies designed to facilitate trade, attract investment and improve residents’ living standards.
He expressed optimism that stronger regional economic integration would enhance Nigeria’s competitiveness, generate employment opportunities and position Lagos at the forefront of Africa’s emerging economic transformation
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