Lagos Key to Nigeria’s $1 Trillion Economy Target — Shettima

Vice President Kashim Shettima has described Lagos State as the driving force behind Nigeria’s ambition to build a $1 trillion economy, citing the state’s economic resilience, infrastructure development, and thriving private sector as critical factors in achieving the national goal.

Speaking at an economic forum in Lagos, Shettima said the state has consistently demonstrated the capacity to attract investment, create jobs, and drive innovation, making it a model for economic transformation across the country. He noted that Lagos accounts for a significant share of Nigeria’s economic activities and remains the nation’s commercial capital.

According to the Vice President, the Federal Government’s economic reforms are designed to unlock growth opportunities across sectors while leveraging the strengths of states such as Lagos to accelerate national development. He emphasized that sustainable growth requires strong partnerships between government institutions and the private sector.

“Lagos has proven that strategic planning, infrastructure investment, and a business-friendly environment can produce remarkable economic outcomes. The state remains central to our aspiration of building a $1 trillion economy,” he said.

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Shettima highlighted ongoing federal investments in transportation, energy, and digital infrastructure, adding that these projects are expected to improve productivity and enhance Nigeria’s competitiveness in the global market. He stressed that economic diversification remains a priority for the administration.

The Vice President also commended the entrepreneurial spirit of Lagos residents, describing the city as a hub of innovation and creativity. He noted that technology startups, manufacturing firms, and financial institutions operating in Lagos continue to attract international attention and investment.

Business leaders at the forum welcomed the government’s commitment to economic reforms but urged policymakers to sustain efforts aimed at reducing inflation, improving access to finance, and strengthening infrastructure. They argued that consistent policies are essential for maintaining investor confidence.

Analysts believe Lagos will continue to play a leading role in Nigeria’s economic expansion due to its strategic location, large population, and extensive commercial networks. They noted that investments in transportation systems, ports, and industrial zones could further boost productivity and trade.

Shettima reaffirmed the administration’s determination to create an enabling environment for businesses to thrive, assuring investors that government policies would continue to support growth and innovation.

He expressed confidence that with coordinated reforms, increased investment, and stronger collaboration between stakeholders, Nigeria can achieve its long-term economic objectives and secure a more prosperous future for its citizens.