Lagos govt targets $100m revenue E1Lagos GP race

By Olasunkanmi Akoni

LAGOS—THE Lagos State government, yesterday, disclosed that it intends to generate $100 million during the E1 Electric Powerboat Championship slated for next month. 

The three-day event, tagged ‘E1 Lagos GP Series,’ is expected to bring over 250 participants, particularly the youths worldwide.

Chairman of the Local Organising Committee, LOC, and Deputy Chief of Staff to Lagos State Governor, Mr Sam Egube, while speaking at a press parley, said the landmark event will serve as a global showcase for Lagos’ culture, energy, and economic potential.

Egube said: “The E1 Lagos GP is more than a sporting event. It is history in motion. For the first time, the world’s only all-electric powerboat championship comes to African waters, placing Lagos alongside Monaco, Venice, and Jeddah as a global host city. The event is a major milestone for the sport and for Lagos’ role in global sustainability conversations.

“The event will stimulate a significant amount of growth. The race alone will not add anything less than $100 million to investments in Lagos.”

“Tourism plays a vital role in driving economic activities, promoting trade, sports and facilitating cultural exchange.”

Also, speaking, the Chief Executive Officer of E1 Series, Mr Rodi Basso, said Lagos competed with other global cities to secure the hosting rights, which would open the state for more investment opportunities in global sport and entertainment.

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