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Lagos committed to Nigeria’s $1trn economy ambition — Sanwo-Olu

Ademola Damilola by Ademola Damilola
September 3, 2025
in Business, In the News
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Lagos committed to Nigeria’s $1trn economy ambition — Sanwo-Olu
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…Gov, Minister, Tech leaders attend GITEX Nigeria 2025 opening in Lagos

Lagos State Governor, Mr. Babajide Sanwo-Olu, has reaffirmed his administration’s commitment to driving innovation, technology, and inclusive growth as catalysts for achieving Nigeria’s $1 trillion economy target by 2030.

Speaking at the official opening of the GITEX Nigeria Tech Expo and Future Economy Conference 2025, held at the Eko Hotel and Suites, Victoria Island, Lagos, Governor Sanwo-Olu described Lagos as the “economic heartbeat of Nigeria” and a beacon of innovation across Africa.

The week-long event, organised by the Lagos State Government in collaboration with KAOUN International, the Federal Ministry of Communications, Innovation and Digital Economy, and the National Information Technology Development Agency (NITDA), brings together global technology leaders including IBM, Meta, AWS, Cisco, and MTN, alongside Nigerian startups and policymakers.

“Today, as we explore the GITEX Nigeria Tech Expo and Future Economy Conference, we are doing more than just showcasing technology,” said Sanwo-Olu. “We are building partnerships, sparking innovation, and laying the groundwork for Nigeria’s goal of becoming a $1 trillion economy by 2030.”

The Governor noted that Lagos is home to 23 of Nigeria’s fastest-growing companies, according to the Financial Times, positioning the city as a thriving innovation hub supported by enabling policies, private sector dynamism, and a resilient startup culture.

“Lagos is not just a city; it is a movement,” he added. “Events like GITEX amplify our collective efforts by creating new opportunities for talent development, expanding digital infrastructure, and forming strategic partnerships.”

Sanwo-Olu also commended the Federal Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, for his leadership in promoting inclusive digital solutions and advancing artificial intelligence infrastructure in Nigeria.

In his remarks, Dr. Tijani highlighted the rapid urbanisation of Lagos, noting that the city absorbs approximately 2,000 new residents daily — a trend that underscores the urgent need for scalable digital infrastructure.

“Lagos is already under intense urban pressure,” the Minister said. “This reality makes the case for stronger digital systems even more compelling. Our goal is to create a resilient and globally competitive digital economy.”

Dr. Tijani also announced the launch of a government-backed research initiative set to begin on October 1. The programme will fund 75 new research projects in Nigeria’s digital sector, with a focus on deepening participation among local and diaspora-based researchers and entrepreneurs.

The Minister emphasised that collaboration across startups, corporates, and government institutions will be key to building a robust innovation ecosystem capable of weathering future challenges.

GITEX Nigeria 2025 is a regional edition of the globally renowned GITEX Global Expo held annually in Dubai. This year’s Lagos edition is focused on advancing Africa’s digital transformation agenda, showcasing frontier technologies in artificial intelligence, smart cities, fintech, cybersecurity, and cloud computing.

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