Obasa warns Strong Institutions Growth is vital for economies, urging investor confidence in Lagos’ governance and reform-driven investment climate

Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, Lagos, Nigeria, on Saturday, 16 May 2026, told a gathering of global investors, diplomats and policymakers that Strong Institutions Growth remains the foundation of any economy seeking long-term prosperity and international capital confidence.

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Speaking at the HOC Capital Club in Lekki during a keynote address themed “Legislative Leadership and the Role of Global Private Capital in Modern Economic Growth,” Rt. Hon. Mudashiru Obasa stressed that sustainable development cannot be achieved without clear laws, accountable governance and consistent policy direction, arguing that these elements form the bedrock of investor trust.

In a firm and authoritative address, Rt. Hon. Mudashiru Obasa declared that legislative leadership plays a decisive role in shaping economic stability, noting that the constitutional mandate of the Lagos State House of Assembly is designed to reinforce transparency through oversight of public funds and governance processes.

“All the money that comes into the treasury must be legislated upon by the House for transparency. The power of the purse is the most effective weapon for the people’s representatives to control government spending,” Rt. Hon. Mudashiru Obasa said, underscoring what he described as the practical importance of institutional strength in driving investor confidence and Strong Institutions Growth.

He further argued that credible institutions and regulatory predictability are essential to attracting quality global capital, while cautioning that economic expansion must translate into tangible benefits such as job creation, poverty reduction and improved public services.

His remarks were delivered in a tone that combined policy clarity with a pointed emphasis on accountability, drawing attention from investors present at the high level gathering.

Rt. Hon. Mudashiru Obasa highlighted several legislative frameworks he said have reshaped Lagos State’s investment environment, including the Public Procurement Law (2021), the Public-Private Partnership Law (2011/2015), and the Electric Power Sector Reform Law (2024).

He also referenced property protection measures and the ₦4.44 trillion “Budget of Shared Prosperity” for 2026, which allocates more than half of spending to capital projects as evidence of a deliberate growth strategy anchored in Strong Institutions Growth.

The Speaker also pointed to broader reforms such as the Sovereign Wealth Fund initiative, tax harmonisation efforts and the proposed Railways Corporation Bill (2025), describing them as part of a long-term legislative vision aimed at strengthening investor confidence and economic resilience.

Observers noted that the address carried a confident and forward-looking tone, with moments of emphasis on Lagos’ ambition to position itself as a leading destination for global private capital.

The setting, the HOC Capital Club in Lekki, is an exclusive network for high net worth individuals and policy stakeholders, underscoring the international focus of the engagement.

Concluding his remarks, Rt. Hon. Mudashiru Obasa said the future of economic growth will depend heavily on the quality of public leadership and the confidence it inspires among global investors, reinforcing his central message on Strong Institutions Growth.

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“Together, we can unlock the full potential of Lagos, strengthen Africa’s economic future, and establish a new benchmark for economic and diplomatic engagement on the global stage,” he said, leaving a message that Lagos remains open, ambitious and strategically positioned for global capital inflows.