Lagos nets $5.95bn foreign capital inflows in 2024 —Sanwo-Olu reveals
yarkarkara
By Olasunkanmi Akoni
Lagos State Governor, Babajide Sanwo-Olu, has disclosed that the state in 2024 alone, attracted $5.95 billion in foreign capital inflows—over two-thirds of Nigeria’s total, while drawing $2.56 billion in Q1 2025, despite global headwinds.
Sanwo-Olu, who stressed that the State remained a dominant investment destination in Africa, expressed the readiness to partner the State of Georgia, United States of America, USA, in the area of infrastructure, healthcare, education, technology, and creative industries.
The Governor spoke on Thursday, while delivering a speech at the US–Nigeria Policy and Trade Forum, held alongside FNITCC-AFRICON 2025 at the Georgia State Capitol in Atlanta, United States.
The event, according to a statement by Sanwo-Olu’s Special Adviser on Media and Publicity, Gboyega Akosile, was attended by lawmakers of the State of Georgia, members of the Georgia African Legislative Caucus, business leaders, members of the Nigerian diaspora, and friends of Lagos and Nigeria.
Sanwo-Olu assured investors that Lagos is open for business and investment, as well as forging partnerships that will outlive the current administration and shape generations to come.
Sharing some of the compelling facts about Lagos, the Governor affirmed Lagos as an economic powerhouse with a large population and market scale that can boast of infrastructure transformation, innovation and youth.
“In 2024 alone, Lagos attracted $5.95 billion in foreign capital inflows—over two-thirds of Nigeria’s total. Even in Q1 2025, Lagos remained a dominant investment destination, drawing $2.56 billion, despite global headwinds.
”By 2030, Lagos is projected to be the ninth-largest city economy in the world, with a population exceeding 30 million, offering one of the continent’s deepest consumer markets.
”From the Lagos Rail Mass Transit (Blue and Red Lines) to the upcoming 68 km Green Line metro project, and from the Lekki Deep Seaport to the new Lagos International Financial Centre, we are deliberately positioning Lagos as a global city ready for business.
“Lagos is the beating heart of Africa’s tech ecosystem, home to more than 2,500 startups, including unicorns like Flutterwave and Andela. Every day, Lagosians demonstrate that Africa’s future will be digitally powered,” the governor stated.
The post Lagos nets $5.95bn foreign capital inflows in 2024 —Sanwo-Olu reveals appeared first on Vanguard News.
