Gov. Sanwo-Olu urges investment in Nigeria, projected to become Africa’s largest consumer market by 2050
The Governor of Lagos State, Babajide Olusola Sanwo-Olu, has called on investors to take advantage of the opportunities in Nigeria, which has been projected to become Africa’s largest consumer market by 2050, with the largest human population.
Sanwo-Olu, who was represented by Barr. Bimbola Salu-Hundeyin, the Secretary to the Lagos State Government made the call in his address during the official opening of the 10th Agrofood And Plastprintpack Nigeria Conference and Exhibition 2025, noting that projected data make the Agrofood and Plastprintpack Nigeria event vital for shaping Africa’s future, the future of Nigeria particularly that of Lagos State.
He highlighted that the platform is not just an exhibition—it is a catalyst for innovation, technology, and investment in agro-processing, food production, packaging, and plastics, while commending the organizers for their vision in fostering growth in these critical sectors.
The governor said: “Today, we gather to explore new frontiers for economic expansion, exploration and collaboration.
“Lagos remains a hub for agribusiness, food processing, and manufacturing because of its strategic location, vibrant consumer market, and expanding industrial base.
“Imagine a bustling city where cutting-edge technology meets vibrant markets, creating endless opportunities for innovation in agro-processing and packaging.
“This is Lagos—your premier destination for investments in sustainable food packaging, plastic solutions, and industrialization. Lagos is sweet to invest in.”
According to him, this exhibition aligns seamlessly with his administration’s THEMES+ Agenda, which emphasizes industrialization, economic diversification, and environmental sustainability.
He listed a few of the initiatives driving these priorities forward to include, “Lagos Food Systems and Logistics Hub: We are developing a cutting-edge food hub in Ketu-Ereyun, Epe. This facility is designed to enhance food storage, processing, and distribution, ensuring efficiency across the entire value chain. … it is sitting on 220 hectares of land.
“Imota Rice Mill: As the largest rice mill in Sub-Saharan Africa, this facility processes over 32 metric tons daily. Beyond boosting food security, it has created thousands of direct and indirect jobs, empowering our women and taking a lot of our youth off the street, underscoring our commitment to industrialization and economic advancement.
“Support for SMEs: Through programs like the Lagos State Employment Trust Fund (LSETF) and the Onje Eko Farmers’ support programme we have empowered small and medium-sized enterprises in agro-processing and packaging with financing and technical support.
“Waste Management and Sustainability: Our Circular Economy and Waste-to-Wealth programs, advancing plastic recycling and promoting responsible waste disposal practices across Lagos…. Lagos State was the first to ban the use of single use plastics for the better health of our people and the sustainability of the environment.”
He stated further that these initiatives underscore their unwavering commitment to building a sustainable and inclusive economy, while positioning Lagos as a leader in innovation and industrial growth.
He emphasized that through focussed deliberate and intentional efforts, they are creating an enabling environment that attracts both local and foreign investors, stressing that their visionary efforts are yielding positive results as Lagos is the investors’ first choice.
Gov. Sanwo-Olu urged all the participants to seize the moment to forge partnerships, innovate solutions, and drive sustainable growth—not just for Lagos but for Nigeria and Africa as a whole.
He also tasked them to work together to shape the future of agribusiness, food security, and environmental responsibility.
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