Lagos Seeks Private Capital For Rail, Energy, Agro-processing Projects – Sanwo-Olu

Governor of Lagos State, Babajide Sanwo-Olu, has called for increased private sector investment across key infrastructure sectors, including rail transport, energy, agriculture, and agro-processing.

Speaking on Lagos’ development priorities at the Invest Lagos 3.0 titled, ‘Lagos: The Business Gateway To Africa,” in Lagos, on Monday, governor Sanwo-Olu said the state is opening up major opportunities to bridge its infrastructure gap and unlock economic growth.

According to him, the state has significant untapped potential, particularly in transportation and utilities, noting that solving mobility challenges would have far-reaching economic benefits.

“We have opportunity in water, we are currently enjoying some credit facilities, but we still have a lot of opportunity. Just one thought of Lagos for water,” he said, highlighting the need for broader investment in water infrastructure.

On transportation, the governor stressed that Lagos’ long-term growth depends heavily on efficient mobility systems, particularly rail and waterways.

“If we solve transportation issues in Lagos, what we are doing is we are unlocking the economic potential. Travel time will be completely reduced. People can get to one point or the other easily, quicker, and faster,” Sanwo-Olu said.

He added that improved transport systems would directly enhance productivity and household incomes while improving the ease of doing business for investors.

“It keeps money in their pocket, but they are able to do and transact better. And the private sector can indeed track their investment, because the numbers are there, the population is there,” Sanwo-Olu said.

The governor also used the opportunity to court investors into Lagos’ expanding technology ecosystem, particularly in digital infrastructure and data services.

“Today, we’re building what we call not just data centres, we’re building fibre connectivity around the city. The future is technology,” he said, adding that Lagos is actively scaling up digital infrastructure to attract hyperscale data centre investments.

According to him, Lagos is already positioning itself as a technology hub, but requires more private capital to expand capacity.

“We’ve opened one, but there’s still huge opportunities in technology, in data, and infrastructure,” he noted.

Sanwo-Olu also emphasized agriculture and agro-processing as critical investment frontiers, citing Lagos’ large population and consumption demand as a major advantage for investors.

“With 24, 25 million people, you know that this is a ready market,” he said, adding that food security and supply chain logistics remain strategic priorities for the state.

He explained that Lagos is developing a central logistics park and seeking additional investment to strengthen agro-processing capacity and improve food distribution.

“We need a lot of processing plants. We need a lot of agro-processing opportunity that is there,” he said.

On energy, the governor stressed that Lagos is actively exploring renewable and traditional energy sources to meet rising demand.

“Energy transition, energy for all is real… there’s opportunity in energy, in terms of renewables, in terms of solar, in terms of gas,” he said, noting that demand for power in Lagos continues to grow rapidly.

Sanwo-Olu further stated that Lagos is pursuing a broad infrastructure strategy covering transport, technology, agriculture, and energy, all of which require strong private sector participation.

“There’s huge opportunity in public transportation, in rail. There’s huge opportunity in technology, in renewable energy… there’s opportunity in gas, in energy, in transportation, in agriculture,” he said.

He concluded that Lagos’ development agenda is ultimately aimed at improving citizens’ quality of life and creating a more efficient economy.

“We want to bring down that problem… reduce travel time and increase economic efficiency. Once that happens, our people will move quicker, our economy will develop quicker, taxes will be paid, and by extension, the benefit will come to government,” he added.