With bold optimism and audacious investment in critical infrastructure, Lagos State Governor, Babajide Sanwo-Olu, is gradually building the final layers of the foundation for a wealthier Lagos, Israel Opayemi submits.

Let me make a confession. The title of this piece has drawn inspiration from James Carville’s popular campaign theme for Bill Clinton’s 1992 presidential election bid. In 1992, the United States was experiencing headwinds under President George W. Bush, who was seen by a section of the American electorate as out of touch with the needs of the average Americans. Carville then told a meeting of Bill Clinton’s campaign staff, that “it’s the Economy. Stupid!” to emphasize the primacy of economic issues in that election cycle. The result? Bill Clinton gave prominence to economic issues touching the lives of average Americans throughout that campaign season, and he won impressively.

As a close Associate of Governor Babajide Sanwo-Olu and a Policy Communications Specialist, each time I reflect on the momentous efforts he is making towards giving Lagos State some fitting infrastructure or some of the social intervention initiatives being carefully executed by his government, one is forced to reach just the same conclusion. I often quipped when summarizing the strategic goal in view of all that the Governor Babajide Sanwo-Olu is leading his team to do, “It’s the Economy. Period!”

Discerning citizens can indeed see the geometric economic progression the state is currently making. Through years of meticulous planning under Asiwaju Bola Ahmed Tinubu and years of surgical implementation of the plans under Governor Babatunde Raji Fashola (SAN) down to the incumbent, Lagos has indeed attained her full status as ‘Nigeria’s Economic Capital’. The state has in fact exceeded just that local adulation to the place of her rating as Africa’s fifth largest economy. It would seem the duo of Governor Babajide Sanwo-Olu and Deputy Governor, Dr. Kadiri Obafemi Hamzat are conscious of their roles in the history of Lagos. They must build the final layers of the foundation for the emergence of a truly prosperous Lagos in a few short years. They seem to be approaching the task with some sense of urgency and admirable focus.

As at the time this writer was putting the thoughts of chronicling the timelines of the multiple investment roadshows the Governor and his Deputy were running with, they have crisscrossed Dubai, Morocco, and United Kingdom all within days and hours. The goal for them is simple. Stimulate the growth of the economy, put more wealth in the hands of citizens and lift more Lagosians out of poverty. Poverty is a clear and present danger to society. But there is a method to treating this madness called poverty. Build critical infrastructure. They are keys to opening the inherent wealth in a City. It is therefore not surprising that the duo Sanwo-Olu and Hamzat know exactly what to do. Keeping marketing our problems as opportunities.

On Wednesday 1, November, the Chief Marketing Officer of Lagos was in faraway Georgetown, Guyana to attend the Afri Caribbean Trade Forum and to discuss the imperatives of investing in food security, agricultural productivity and expanding agribusiness opportunities in Lagos. His message was clean and clear. “It is only by doing so that that we can address food security concerns but also stimulate employment, create opportunities for export and uplift rural income.” Perhaps, thinking in line with the Yoruba adage that ‘once hunger is excluded from poverty, the misery of poverty has been vanquished.’ Governor Sanwo-Olu has therefore set his face like a flint on the goal of food security by 2024. He hopes to complete the Lagos Food System and Logistics Hub, Africa’s biggest food and logistics hub in Ketu-Ejirin, Epe as part of a strategic initiative to put more wealth in the hands of farmers, ensure food security and sufficiency. While the annual value of food transactions is estimated at about USD 10 billion, farmers are losing over 40 percent of their incomes due to a lack of adequate post harvest storage facilities. The Babajide Sanwo-Olu administration is building a storage facility on a 1.2 million square metre site in Ketu-Ejinrin. The facility is expected to boost the economy by reducing waste that arise as a result of inadequate storage facilities. It is expected to ensure food security and increase internally generated revenue. When completed, the hub is expected to provide direct income to more than 5 million traders in the value chain, while ensuring uninterrupted food supply to more than 10 million Lagosians for at least ninety days in times of scarcity. The central food hub will encourage more investment in farming and food production, and open farmers up to modern-day storage facilities. Again, it’s the economy. Period!

But that is not all. It was during this round of investment marketing roadshow, precisely on October 31, 2023, that Governor Babajide Sanwo-Olu secured and signed a partnership with the African Export-Import Bank and Access Bank for a massive investment of $1.352 billion in Lagos. This is part of the funding needed for the realization of the Fourth Mainland Bridge, the Omu Creek Project, and the Second Phase of the LRMT Blue Line from Mile 2 to Okokomaiko, amongst others. It was also at this investment marketing event that the governor declared with absolute confidence, “Our vision for Lagos is becoming a reality with the Lekki-Epe International Airport and the Lagos Food Systems and Logistics Hub in Epe. These projects will further boost our economy and serve generations to come.”...



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