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Group lauds Sanwo-Olu for promoting investment in Lagos, Nigeria
The South West Initiative (SWI) has commended Lagos State Governor Babajide Sanwo-Olu for projecting Nigeria’s commercial capital and the nation at large as prime investment destinations to the world.
Sanwo-Olu last week spoke during a lecture at Harvard Business School in the United States on the topic “Building the Future: Lagos State Infrastructure-led Transformation” as part of Professor Hakeem Belo-Osagie’s course “Understanding Africa: Business, Entrepreneurship, Political Economy and the Complexities of a Continent”.
SWI in a statement on Sunday, its Director General, Razaq Olokooba, applauded the Lagos governor for his brilliance in highlighting to the audience the economic strength, infrastructure projects, and policy reforms aimed at driving growth and attracting global investment in Lagos and across Nigeria.
The group while expressing delight over Sanwo-Olu’s presentation in the United States described the Lagos governor as a pride to the Black race and a very good marketer of the nation.
“Governor has been a trailblazer since becoming the first citizen of Lagos state, and he has performed beyond expectation but projecting the nation in a good light in faraway United States reinforces the belief many of us have in him.
“So for us, Governor Sanwo-Olu brilliantly projected through his presentation, he (Sanwo-Olu) is an asset not only to Lagos and Nigeria but the whole of the African continent. He is a pride to the Black race and his achievements speak for him in Lagos.
“Lagos is one of the biggest cities in the world economic-wise and Nigeria has enormous potentials and someone must at all times let the world know about these potentials.
“Let’s not forget that under Sanwo-Olu as Lagos governor, the state boasts of GDP of $259bn, a population of 25 million, four seaports, good through infrastructure development, particularly in transportation, housing, education, technology, healthcare, and a well-structured rail transportation system.
“So we hail our dear governor for his accomplishments and for promoting Lagos, Nigeria, and Africa in the United States, “the group averred.
Sanwo-Olu, in his speech at Harvard Business School in the United States, told the audience and potential investors present: “With a GDP of $259bn, a population of 25 million, four seaports, and investor-friendly policies, Lagos is a business and commercial powerhouse.
“Lagos is a place where people come in without anything and become somebody, Lagos is experiencing a transformation through infrastructure development, particularly in transportation, housing, education, technology, and healthcare.
“We have the Lagos Blue Line—the first intra-city electric rail system in Africa—which has already transported over two million passengers, averaging 42,000 daily.
“The Red Line is operational, while work is set to begin on the Green Line to connect Lagos Island with the Lekki-Epe corridor, where a new airport is also under development.”
The governor also outlined strides in education, pointing to the establishment of two new universities and a third focused on medical sciences aimed at addressing the state’s healthcare workforce needs.
In the tech space, Sanwo-Olu described Lagos as one of Nigeria’s leading technology hubs, noting that the state is nurturing a large pool of tech talent as part of a 30-year Development Plan to create a human-centric economy.
“If Microsoft or Amazon is looking to hire 10,000 tech professionals, Lagos should be the first place to look.
“There have been fashion shows, drama performances, and movies. A movie made in Lagos has just been nominated to be presented at the Cannes Film Festival,” he noted, adding that the state is working to formalize its tourism and entertainment calendar.”
Sanwo-Olu listed achievements in road construction and housing delivery—over 1,000 roads have been built or rehabilitated, and more than 3,000 housing units provided—as well as developments in clean energy, including the introduction of more Compressed Natural Gas buses.
On health, he revealed ongoing construction of a new General Hospital, a mental health hospital and rehabilitation centre, and the new Massey Street Children’s Hospital, which is set to become the largest of its kind in Sub-Saharan Africa.
- …Sets the stage for a future of more possibilities
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has officially marked the incredible milestone of its 80th anniversary on Friday, May 2nd, 2025.
Celebrated as Nigeria’s oldest indigenous bank, Wema Bank was founded on May 2nd, 1945, as Agbonmagbe Bank Limited; an institution that has now evolved from a single-branch operation aimed at empowering indigenous Nigerians into a formidable force that continues to blaze the trail in Nigeria’s banking and financial industry.
From bridging gaps in access to finance for underserved Nigerians to empowering businesses with insightful financial solutions and support, providing a platform for other industries to thrive and proactively delivering financial solutions tailored to the needs of every Nigerian, Wema Bank has built a legacy of impact for 8 decades. With millions of customers and global presence via 150+ branches and the ALAT App, Wema Bank continues to set the pace in customer-centric innovation and impactful banking.
Extending heartfelt gratitude to the Bank’s stakeholders, Moruf Oseni, the MD/CEO of Wema Bank reiterated the Bank’s commitment to continue going above and beyond in service of its customers in the decades to come. According to him, “Wema at 80 is a milestone that extends deeply into the very roots of the industry, the people and the nation. This is an 80-year-old bank that began to set the pace for indigenous businesses in the depths of colonial rule and has remained resolute in carrying on that mission since 1945, showing the world that ‘Nigerian-owned’ can last, and institutions can be agents of transformation in their own capacity. It’s a journey I am deeply proud of and I cannot celebrate alone”.
“I take this moment to express my sincerest gratitude to every person and institution that has played a part in Wema Bank’s success story. From our customers to shareholders, investors, partners to employees past and present, and every other stakeholder whose efforts run in the veins of this great Bank. We are Wema and I take this moment, on behalf of the Board and Management of the Bank, to reiterate our lifelong commitment to you. Wema Bank is built to last, Wema Bank is built for you and Wema Bank will never relent in delivering optimum value to you. It has been 80 years of impact, and as we look ahead to a future of limitless possibilities, our promise to you remains the same. We Are With You, All The Way!”, Oseni concluded.
Wema Bank’s 80th anniversary has taken the world by storm, with a major highlight being the Wema at 80 Gala Night scheduled to hold in Lagos at 6 p.m. on Friday May 2nd, 2025. Headlined by Afrobeats stars Davido and Wande Coal, Fuji legend Ayuba, vocal sensation Yinka Davies, 9ice and a star-studded lineup of celebrities, dignitaries and stakeholders; the night promises to be one for the books, convening 8 decades of generations in a glamorous ceremony themed ‘Timeless Elegance’.
Anyone can be a part of the Wema at 80 Gala Night by tuning in live at 7 p.m. to the Bank’s YouTube Channel as well as select national TV stations.
The Africa Trade Consortium, a premier platform for promoting intra-African trade, is set to host its 5th edition of the “Tea Break Edition” on May 14th, 2024, at the Grand Pela Hotel, Durimi, Abuja. This annual event, organized by PR Times Africa Media Ltd, aims to boost trade relations within the continent and explore new business opportunities.
*Key Highlights of the Event:*
– *Date:* May 14th, 2024
– *Time:* 10:00 am
– *Venue:* Grand Pela Hotel, Durimi, Abuja
– *Theme:* “Tea Break Edition”
– *Objective:* To promote intra-African trade, strengthen economic cooperation, and unlock new trade opportunities in the tea industry and related sectors.
*This Year’s Focus:*
The 5th edition of the “Tea Break Edition” will bring together top decision-makers, businessmen and women, and diplomats from diverse regions of the continent to discuss the tea industry as a business opportunity and explore related trade prospects. The event will also address key challenges facing trade within the continent, including trade barriers, border challenges, security, and weather-related issues.
*Quotes from the Organizers:*
“The Africa Trade Consortium is committed to fostering economic growth and development within the continent by promoting trade and investment,” said the Lead Consultant of PR Times Africa Media Ltd and Convener of the Africa Trade Consortium. “We believe that the tea industry has immense potential for growth and we look forward to exploring new trade opportunities with our partners from across Africa.”
*About the Africa Trade Consortium:*
The Africa Trade Consortium is a trade initiative launched in Abuja, Nigeria in 2022. Its primary objective is to promote trade between Nigeria and other African countries, fostering economic cooperation and collaboration among nations on the continent. The consortium brings together stakeholders from various sectors, including government, private enterprise, and civil society, to facilitate dialogue and collaboration.
For more information, please visit (link unavailable) or call +234802422404.
- Clarifies Projects Linked to FCC Oji River
- Calls for Strengthened Civic Engagement, Public Accountability Efforts
The African Leadership Strategy, Transparency Development Initiative (ALSTDI) has urged civic organization BudgIT to conduct thorough investigations and factual verifications before publishing reports on public projects, cautioning that inaccurate reporting could inadvertently mislead the public and tarnish the reputation of credible institutions.
In a statement signed by its Executive Director, Nelson Ossaieze, on Saturday, the organization reaffirmed its commitment to promoting transparency, good governance, and institutional accountability through independent monitoring and constructive engagement.
The call followed ALSTDI’s independent fact-finding assessment, conducted as part of its corporate social responsibility activities, which addressed claims in BudgIT’s 2023/2024 Tracka report alleging that certain projects linked to the Federal Cooperative College (FCC), Oji River, were abandoned.
ALSTDI explained that its investigation, which entailed continuous procurement monitoring since 2021 and a recent physical verification exercise, confirmed that the projects in question were neither abandoned nor mismanaged, contrary to the allegations.
The statement read: “The misrepresented projects cited include: ERGP30212691 – Fencing of Government Boys Secondary School, Ibusa, Delta State:
Our findings reveal that the project was carried out at St. Thomas Boys College, Ibusa, and not Government Boys Secondary School as stated in the Tracka report. The construction company involved is Tonigate Multinational Services Ltd., a registered firm with verified records at the Corporate Affairs Commission (CAC). The fencing of over three hectares of land has been completed and is currently in use. Also ERGP20231932 – Furnishing of a Hospital in Zone 9, Okafia, Bende L.G.A., Abia State:
Our findings disclosed that this was a constituency project sponsored by Senator Orji Uzor Kalu, with the hospital sited in Igbere, not Okafia. Executed by Swiber Africa Ltd., the furnishing project was completed in 2023. However, the medical equipment is securely stored within the hospital pending the deployment of healthcare personnel and the resolution of security challenges in the area.”
ALSTDI noted that the Tracka report may have relied on assumptions without exhaustive verification, and that no Freedom of Information (FOI) request was sent to FCC Oji River for clarification before publication.
The group emphasized that while the contributions of civic organizations to transparency and accountability are commendable, such efforts must be built on rigorous fact-checking and direct engagement with institutions to maintain public trust.
“Our findings, supported by pictorial and documentary evidence, have been submitted to the Economic and Financial Crimes Commission (EFCC) for formal review,” the statement added.
ALSTDI further recommended that civic actors should prioritize detailed field assessments and open institutional communication to ensure accuracy in public reporting, thereby strengthening Nigeria’s democratic accountability mechanisms.
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