70% of Lagos New Businesses Founded by Youths — Sanwo-Olu

Lagos State Governor Babajide Sanwo-Olu has proudly declared that the state's youth are the primary engine of its economic dynamism, with young entrepreneurs accounting for a remarkable 70% of all new businesses. This statistic, revealed at the Abuja Dialogue, underscores Lagos's position as a hub for innovation and opportunity for its young population. The governor emphasized that these are not mere figures of potential, but tangible results demonstrating the power of investing in youth.

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The results speak for themselves. Lagos youths contribute an estimated ₦4.5 trillion annually to our GDP, and 70% of new businesses in Lagos are youth-founded ventures.

Sanwo-Olu further elaborated on the significant economic contribution of Lagos youths, estimating their annual input to the state's Gross Domestic Product (GDP) at a staggering ₦4.5 trillion. This substantial figure is a testament to the entrepreneurial spirit and innovative drive that characterize the younger generation in Lagos. The governor pointed to initiatives like the Lateef Jakande Leadership Academy as crucial in nurturing this talent, providing structured training, mentorship, and public sector exposure to cultivate future leaders.

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These are not figures of potential; they are figures of performance. They show that when you invest in young people, they deliver.

Beyond highlighting Lagos's achievements, Governor Sanwo-Olu issued a call to action for other states and the federal government. He advocated for the widespread adoption of robust youth development systems, drawing a parallel between the need for national infrastructure funds for physical projects and the necessity of a national framework for developing the human capital that will manage and sustain them. This vision emphasizes a collaborative approach to national transformation, with youth leadership as a strategic cornerstone.

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If we can establish a national infrastructure fund for roads and bridges, then surely we can establish a national framework for building the human infrastructure that will design, manage, and sustain those roads and bridges for generations to come.

The dialogue also featured insights from Senator Hassan Hadejia, Deputy Chief of Staff to the President, who stressed the importance of institutional responsiveness to youth development, moving beyond rhetoric to practical capacity-building. Ayisat Agbaje-Okunade, Executive Secretary of the Lateef Jakande Leadership Academy, reiterated the event's goal of fostering collaboration among stakeholders to empower young leaders for national progress. The collective message is clear: investing in youth is investing in Nigeria's future.

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Youth development must go beyond rhetoric; it must focus on equipping young people with the capacity to navigate leadership and national complexity.