Lagos economic powerhouse status was highlighted by Shettima, who praised the state’s role in wealth creation, innovation and growth

Vice President Kashim Shettima has described Lagos State as Africa’s economic “live wire”, praising its role in wealth creation, innovation and national development during the Invest Lagos Summit 3.0 held in Lagos on Monday.

Also read: Shettima to inaugurate key projects in Ekiti State

Addressing government officials, investors and business leaders at the summit, Shettima said Lagos has remained central to Nigeria’s economic trajectory and continues to serve as a model for governance, enterprise and sustainable growth.

“Lagos is the live wire of our continent,” the Vice President said, adding that the state is “the furnace in which our ideas are tested against the discipline of execution.”

According to Shettima, Lagos represents the point where national aspirations are transformed into practical outcomes, making it one of the most influential economic centres on the African continent.

He said the state’s success demonstrates how visionary leadership, institutional continuity and effective governance can translate ambition into measurable development.

Highlighting the city’s contribution to wealth creation, Shettima credited Lagos for producing some of Africa’s most influential business leaders.

The Vice President noted that Aliko Dangote, widely regarded as Africa’s richest man, built his business empire from Lagos, despite originating from Kano.

“It was Lagos that gave Africa its richest man, not Kano. Aliko Dangote is a Lagos man,” he said.

Shettima also pointed to Abdulsamad Rabiu, founder of BUA Group, describing him as another leading entrepreneur whose success reflects the opportunities created by the Lagos economic environment.

The Vice President further remarked that Lagos has shaped the fortunes of many prominent Nigerians, adding on a personal note that he also considers himself “a Lagos boy”.

He attributed much of the state’s progress to successive administrations that have sustained long-term development policies and institutional reforms.

According to Shettima, Lagos has evolved into a city capable of balancing rapid growth with social and economic stability.

He said the state has demonstrated that “a place may be crowded without being confused, prosperous without being complacent, and ambitious without losing its soul.”

The Vice President also paid tribute to President Bola Ahmed Tinubu, whom he credited with laying the political and governance foundation that enabled Lagos to emerge as a continental economic powerhouse.

He said Tinubu “planted the tree whose shade has sheltered a succession of leaders committed to futurist ideas, institutional continuity, and disciplined governance.”

Reflecting on Lagos’ transformation, Shettima recalled a period when the city grappled with significant urban challenges, noting that sustained reforms over the years have repositioned it as one of Africa’s leading investment destinations.

The Vice President highlighted the state’s growing influence in the technology sector, stating that Lagos hosts a significant share of Africa’s leading startups and unicorn companies.

“Of the nine unicorns in Africa, five are based in Nigeria, all in Lagos,” he said, underscoring the city’s dominance within the continent’s innovation ecosystem.

Also read: Shettima urges states to unlock $750m SABER fund

His remarks reinforced Lagos’ reputation as a leading destination for investment, entrepreneurship and economic expansion, with stakeholders at the summit emphasising the need to sustain policies that strengthen the state’s competitiveness and attract further capital inflows.