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Commissioner Reveals over $3 Billion investments was fostered to Lagos in 3 Years

The Lagos State Government has declared that it has secured around $3 billion in investments over the past three and a half years. This announcement was made by Tunbosun Alake, the Commissioner for Innovation, Science, and Technology, at the 2024 US-Africa Business Summit held in Dallas, Texas.

The summit, organized by the Corporate Council on Africa, gathers political and business leaders from Africa, the United States, and beyond for strategic discussions and networking.

During his presentation, Alake highlighted the emergence of numerous start-ups and scale-ups throughout the region, emphasizing that Lagos now has the largest start-up network in Africa. He noted that these investments have led to the creation of a robust ecosystem of high-value start-ups and scale-ups, now valued at a combined $5 billion, and have generated thousands of jobs for the youth.

He further shared that the Lagos State Government has implemented several initiatives through public-private partnerships, including a significant project to install 3,000 kilometers of fiber optic cables.

Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade, and Investment, also spoke at the summit, reiterating the state’s dedication to creating a favorable climate for investments and business expansion, particularly under the administration of Governor Babajide Sanwo-Olu.



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