Infrastructure Remains Catalyst For Economic Growth – Sanwo-Olu

Lagos State governor, Mr Babajide Sanwo-Olu, has reiterated the critical role of infrastructure development in driving real estate and economic growth.

Governor Sanwo-Olu stated this while delivering a keynote address at the 2026 Nigeria Construction and Real Estate Outlook Conference, organised by the Royal Institution of Chartered Surveyors (RICS), Nigeria, held in Victoria Island, Lagos.

Using Lagos State as a practical case study, the governor explained that Africa’s largest city has continued to experience rapid population growth, which presents both pressure and opportunity.

He emphasised that Lagos has deliberately pursued infrastructure as a long-term investment strategy, with government-led interventions designed to unlock private-sector confidence.

He added that, “Infrastructure is not an accessory to growth; it is its architecture. It determines where value emerges, how cities expand and whether growth is inclusive or fragile.”

The governor who was represented by the state’s commissioner for Housing, Hon Moruf Akinderu-Fatai, noted that in, “an increasingly competitive global investment environment, professionalism, transparency, and integrity in the built environment are decisive factors for attracting capital and sustaining growth.”

He commended the Royal Institute of Chartered Surveyors (RICS) for its global leadership and professional standards which has added value to its stakeholders.

He cited the Lagos Rail Mass Transit network, major road and bridge projects, and integrated transport planning as key drivers reshaping land use, unlocking new real estate corridors, reducing congestion costs, and supporting transit-oriented development across the state.

The governor also underscored the importance of strong institutions in making infrastructure projects investable, highlighting reforms in land administration, planning approvals, and public-private partnership frameworks that have improved certainty, reduced risk, and accelerated project delivery.

According to him, these achievements reflect continuity of vision across successive administrations and a clear understanding that infrastructure is the strongest signal of government credibility and long-term intent.

The governor expressed optimism for Nigeria’s construction and real estate outlook in 2026, identifying opportunities in transit-oriented development, urban regeneration, affordable housing, logistics and industrial parks, and climate-resilient infrastructure.