Sanwo-Olu: Lagos Poised as Africa's Geoeconomic Hub

Lagos State is strategically positioned as Africa’s premier geoeconomic hub, harnessing trade, infrastructure, finance, technology, and talent to drive prosperity across Nigeria, West Africa, and globally, according to Governor Babajide Sanwo-Olu.

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If Lagos were a country, it would rank as Africa’s eighth-largest economy.

Speaking at the “Geo-Economic Optimization Summit Lagos 2026,” Sanwo-Olu explained that geoeconomics, the strategic use of economic tools for influence, defines the modern global order. He noted Lagos contributes one-third of Nigeria’s Gross Domestic Product, with an output exceeding $259.75 billion on a purchasing-power-parity basis, making it Africa’s second-largest metropolitan economy after Cairo. “If Lagos were a country, it would rank as Africa’s eighth-largest economy,” he stated, emphasizing that over 90 percent of its output stems from a diversified base including finance, technology, trade, logistics, creative industries, and the blue economy.

The governor outlined Lagos’s geoeconomic influence through regional bodies like the Odu’a Group and DAWN Commission, underscoring its role as Nigeria’s commercial and financial nerve center. He asserted, “when Lagos works, Nigeria works better.” Sanwo-Olu, also Chairman of the South-West Governors Forum, called for enhanced regional economic integration, urging leaders to “think regionally, act strategically, and cooperate generously, for no single state captures the whole prize alone.”

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when Lagos works, Nigeria works better.

Sanwo-Olu highlighted significant investments in mass transit, including the operational Blue and Red rail lines and federal support for the Green Line, alongside upgrades to the Lagos-Badagry Expressway. He also mentioned state electricity law reforms and federal initiatives like the 700km Coastal Highway and the Sokoto-Badagry Superhighway, aimed at addressing power constraints and improving connectivity. These developments underscore Lagos's ambition to function as a sub-national economy carrying national weight.

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think regionally, act strategically, and cooperate generously, for no single state captures the whole prize alone.