Lagos State Governor Babajide Sanwo-Olu has outlined an ambition to build a $1 trillion economy by 2052 through sustained investment in transport, technology, human capital and a more competitive business environment. Speaking at a Nigerian-British Chamber of Commerce meeting in Lekki, he said the Lagos State Development Plan 2052 contains 447 initiatives across 21 sectors.
The governor identified modern infrastructure, a productive economy, responsive governance and a people-centered city as the plan’s central priorities. He pointed to rail projects, the Lekki Deep Sea Port, digital connectivity and support for small businesses as building blocks for growth. Lagos’s annual budget, he said, had increased from about N700 billion in 2019 to N4.2 trillion in 2026.
Sanwo-Olu also ordered officials to clear outstanding applications for Governor’s Consent on land transactions, warning that administrative delays were limiting residents’ ability to use property assets productively. He said officials with delegated signing authority should be able to process substantially more applications each month.
The governor disclosed discussions about a second phase of the Lekki port, interest in the proposed Badagry Deep Sea Port and plans to open the Opebi link bridge. He also said an executive order would require businesses to provide health insurance for employees by the end of the year. Nigerian-British Chamber president Abimbola Olashore urged stronger public-private cooperation to improve investment conditions.
