Sanwo-Olu receives 2026 Global Transformation, Good Governance Prize in Washington, D.C.

Politics

WASHINGTON, D.C. (NPA) — Lagos State Governor, Babajide Sanwo-Olu, has been honoured with the 2026 Global Transformation and Good Governance Prize at the Warner Theatre in Washington, D.C., United States.

Governor Sanwo-Olu said he received the award on behalf of more than 25 million Lagos residents, using the occasion to highlight Lagos State’s growing economic strength and its position as one of Africa’s leading investment destinations.

In a statement issued on Sunday following the recognition, the governor said the future of investment in Africa would increasingly be shaped by cities where infrastructure connects markets, businesses have opportunities to grow and citizens can access economic opportunities.

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According to him, Lagos is already making significant investments in infrastructure, innovation and human development to position the state for long-term economic growth.

“Our State covers less than 0.5 per cent of Nigeria’s landmass and we generate more than a quarter of Nigeria’s economic output,” Sanwo-Olu said.

“With an economy worth roughly $259 billion, we are building an economy that is less dependent on crude oil revenues. More than half of our ₦4.4 trillion budget this year is going into capital projects, supported by a projected Internally Generated Revenue of more than ₦3 trillion.”

The governor said the Lagos State Government was backing its economic vision with strategic investments across critical sectors, including technology, transportation, maritime infrastructure and industry.

He noted that Lagos has emerged as one of the leading technology and innovation hubs in sub-Saharan Africa, with a startup ecosystem valued at about $8.6 billion and three active unicorns.

Sanwo-Olu also highlighted major infrastructure projects transforming the state’s economy, including the Lekki Deep Sea Port and the Lekki Refinery.

“The $1.5 billion Lekki Deep Sea Port now handles roughly 40 per cent of Nigeria’s cargo, alongside the 650,000 barrels per day Lekki Refinery,” he said.

The governor further pointed to ongoing investments in public transportation, noting that the Lagos Rail Mass Transit system and water transportation projects were expanding mobility and improving access to economic opportunities.

He said the Blue Line had carried more than eight million passengers, while the introduction of new eight-car trains was expected to increase the Red Line’s capacity to 500,000 passengers daily.

Sanwo-Olu also disclosed that the state, through the €410 million Omi Eko project, was deploying 75 electric ferries across 15 water routes to strengthen water transportation and reduce pressure on Lagos roads.

Looking ahead, the governor said Africa’s rapidly growing urban population presents significant opportunities for investors and governments willing to invest in infrastructure and sustainable development.

“By 2050, Africa will add nearly one billion urban residents. If you want to invest in Africa, look closely at the cities where governance, infrastructure and execution are creating real opportunities,” he said.

Sanwo-Olu expressed appreciation to the Asante Crown and the Millennium Excellence Foundation for the recognition, reaffirming his administration’s commitment to building a more competitive, prosperous and globally connected Lagos.