Lagos State Governor, Mr Babajide Sanwo-Olu, on Wednesday reaffirmed the state’s unwavering commitment to Nigeria’s bold ambition of becoming a $1tn economy.
He made this known at the opening ceremony of the GITEX Nigeria Tech Expo and Future Economy Conference 2025, held in Victoria Island, Lagos.
Recall that President Bola Tinubu has set an ambitious target of growing the country’s economy to $1tn by 2026 and increasing it to $3tn by the end of the decade (2030).
“Distinguished ladies and Gentlemen, a $1 trillion economy is possible by the year 2026 and a $3 trillion economy is possible within this decade. We can do it,” Tinubu said at an event in October 2023.
“We’ve done double-digit inclusive and sustainable competitive growth. This is our agenda and I’d like to charge you- the captains of industry here present, to commit yourselves to and redouble your effort to our vision of a renewed hope.”
The governor highlighted Lagos’ pivotal role in driving Nigeria’s digital transformation and economic growth, describing the state as a beacon of opportunity and innovation, not only in Nigeria but across Africa.
“Today, as we explore the GITEX Nigeria Tech Expo and Future Economy Conference, we are doing more than just showcasing technology; we are building partnerships, sparking innovation, and laying the groundwork for Nigeria’s goal of becoming a $1tn economy by 2030.
“Lagos is not just a city; it is a movement. With 23 of Nigeria’s fastest-growing companies, as highlighted by the Financial Times, Lagos embodies a vibrant innovation ecosystem fuelled by supportive public policies, dynamic private enterprises, and a resilient startup culture,” Sanwo-Olu said.
The GITEX Expo is drawing global tech giants such as IBM, Meta, MTN, AWS, and Cisco, alongside a diverse mix of local startups and innovators.
The event is hosted in partnership with KAOUN International, the Federal Ministry of Communications, Innovation and Digital Economy, and the National Information Technology Development Agency (NITDA).
Sanwo-Olu emphasised that Lagos’ involvement in GITEX aligns with the state’s strategic vision to become the hub of Africa’s digital future.
He said the expo serves as a platform to foster partnerships, drive innovation, and lay the groundwork for sustainable and inclusive economic growth.
“Events like GITEX Nigeria amplify our collective efforts. They create exciting new opportunities for talent development, expanding digital infrastructure, and forging strategic partnerships that will help us reach our economic goals.
“We are not just crafting a digital Nigeria; we are shaping a digital Africa that will inspire the world. I encourage each of you to embrace this moment, connect, innovate, and help create a future that reflects our boldest dreams,” he said.
Also speaking at the event, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, underlined the pressing need to expand Nigeria’s digital infrastructure in response to rapid urbanization.
According to him, Lagos receives about 2,000 new residents daily, placing immense pressure on existing systems and reinforcing the urgency for innovation-led solutions.
Tijani also announced the launch of a new government-backed innovation programme, set to commence on October 1, 2025, which will fund 75 additional research projects in Nigeria’s digital sector.
The initiative aims to deepen collaboration among researchers, entrepreneurs, and the Nigerian diaspora.
