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Economy

Lagos Governor Sanwo-Olu Unveils 30-Year Growth Plan, Eyes Global Investors

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Sanwo-Olu Apologises To Lagos Island Residents

Lagos Governor Sanwo-Olu Unveils 30-Year Growth Plan, Eyes Global Investors

Lagos Governor Sanwo-Olu unveils 30-year growth plan, eyes global investors. He said Lagos remains Nigeria’s economic heartbeat.

Gov. Babajide Sanwo-Olu of Lagos has pledged to collaborate with investors, multinationals, agencies, foundations, and innovation hubs to build a globally respected 21st-century economy.

Mr Sanwo-Olu, represented by his deputy, Obafemi Hamzat, made this known on Wednesday at the second edition of the Lagos Investment Summit.

The three-day summit is with the theme: ‘Scaling Action: Bold Solutions Towards Making Lagos a 21st Century Economy.’

The governor unveiled the state’s 30-year growth agenda and a deal book containing de-risked, investment-ready projects in key economic sectors.

He outlined a strategic blueprint based on infrastructure growth, energy independence, human capital, economic diversification, and governance reforms.

“The Lagos of today is dynamic and determined. But Lagos of 2052 must be strategically governed, deliberately shaped, and courageously built,” the governor said.

With over 25 million people, he said Lagos remains Nigeria’s economic heartbeat and a vital launchpad for West Africa’s innovation and ambition.

Mr Sanwo-Olu said the state’s reforms aim to make Lagos Africa’s most investor-friendly destination through unified and consistent policy initiatives.

He noted that the Lagos State Investment Promotion Agency (LIPA) has been strengthened to serve as a one-stop investment and post-investment support hub.

Through digital tools, land reforms, tax simplification, and PPP frameworks, Lagos is removing red tape to ease investor engagement.
These efforts, he added, are creating a smooth interface between the government and potential investors.

“In this spirit, we present the Lagos Investment Deal Book, featuring vetted, de-risked projects ready for investment across diverse sectors,” he said.

Each project listed is commercially viable, aligned with policy priorities, and ready for implementation.

The summit will also host deal rooms to connect project owners, financiers, development institutions, and government agencies.

“Lagos is open for business. We will not wait for the future—we are building it with resolve, clarity, and courage,” Mr Sanwo-Olu stated.

Folashade Ambrose, commissioner for commerce, cooperatives, trade and investment, urged global investors to participate in Lagos’ transformation.

She said the summit marks a shift from concepts to action and from isolated deals to systemic investment alignment.

Sanwo-Olu Apologises To Lagos Island Residents

Sanwo-Olu

Mrs Ambrose described Lagos as Africa’s commercial heartbeat and a top destination for industrial and economic innovation.

Every reform in the state, she said, is aligned with pillars promoting scale, quality, inclusion, and sustainability.
“This summit is a crucial step towards achieving the ambitious Lagos 2052 vision,” she said.

Mrs Ambrose added that tax harmonisation, land digitisation, and business-friendly reforms show Lagos’ pro-investor, agile governance approach.

She reaffirmed her ministry’s readiness to support investors through every stage of their journey in Lagos.

The commissioner said LIPA will ensure aftercare services, regulatory support, and streamlined navigation of the state’s investment landscape.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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