Lagos: Gov. Babajide Sanwo-Olu says Lagos is building an ecosystem where ideas become inventions, startups grow globally, and technology addresses Africa’s most urgent development challenges.
Sanwo-Olu stated this on Thursday at the 10th edition of Lagos Startup Week, held in Lagos with the theme ‘Disrupting the Next Decade.’
The Governor was represented at the event by his Deputy, Dr Obafemi Hamzat.
He said Lagos is poised to lead Africa’s digital revolution by driving innovation, expanding industries, increasing commercialisation, and significantly boosting GDP and tax revenue.
“We aim to drive up to tenfold GDP growth through innovation, commercialisation, industry expansion, and increased tax revenues.
“We are building a space where startups scale globally, inventions thrive, and technology solves Africa’s most pressing challenges,” Sanwo-Olu said.
The Governor urged the government, private sector, academia, and civil society to collaborate with Lagos in its transformative journey.
He said this would ensure Lagos remains Africa’s innovation powerhouse and secures continental prosperity and global competitiveness in the coming decade.
Sanwo-Olu said his administration is digitising services to boost transparency and efficiency across all sectors of government.
He said a cybersecurity operations centre and capacity-building programme are underway to improve local IT skills and resilience.
The Governor noted that Lagos had seen a remarkable tech transformation in the last decade, with startups evolving into global players.
He noted the five unicorns now based in Lagos – Interswitch, Flutterwave, Jumia, OPay, and Moniepoint – reflecting the state’s fertile ground for innovation.
Sanwo-Olu said Lagos is no longer just Nigeria’s commercial hub but is becoming Africa’s innovation epicentre.
He added that over 70 per cent of Nigeria’s innovation funding now goes to Lagos, confirming its leadership role.
He described the event as both a celebration of innovation and a strong commitment to shaping Africa’s entrepreneurial future.
In his goodwill message, the Netherlands Consul-General in Lagos, Michel Deelen, praised Nigerians for their vibrant energy and creativity.
He said this energy finds expression in technology, research, fashion, film, and the broader innovation ecosystem.
Deelen said Lagos’s youthful population shows potential to become a global economic force due to its strong entrepreneurial spirit.
He noted Lagos hosts four of Africa’s nine fintech unicorns, making it the continent’s fintech capital.
Deelen added that the Financial Times’ latest list of Africa’s fastest-growing firms featured four Nigerian companies among the top ten.
Earlier, Prime Startups founder Mr Olumide Olayinka said the past ten years have been focused on positioning Lagos as Africa’s innovation powerhouse.
He acknowledged the significant support received from the Lagos State Government and other partners throughout the journey.
Olayinka said the next decade would be about reflecting on the past, assessing the present, and preparing for the future.
In his remarks, Emmanuel Emefienim, Managing Director of Premium Trust Bank, expressed joy at the startup’s growth and the milestones it has achieved so far.
Represented by the bank’s Head of Corporate Development, Mr Shina Atilola, Emefienim encouraged them to help build a stronger Nigeria.
He urged them to contribute to making Nigeria the world’s greatest country – economically, in terms of workforce, and terms of security.