Lagos State Governor, Babajide Sanwo-Olu, has received the 2026 Global Transformation and Good Governance Prize at the Warner Theatre in Washington, D.C., United States.
Sanwo-Olu announced the recognition in a statement shared on his X account, saying he accepted the award on behalf of the more than 25 million residents of Lagos State.
According to the governor, the honour also offered an opportunity to showcase Lagos as one of Africa’s major investment destinations, particularly its infrastructure, expanding markets and growing business opportunities.
“I was honoured to receive the 2026 Global Transformation and Good Governance Prize at the Warner Theatre in Washington, D.C., this weekend,” he said.
Sanwo-Olu said Lagos was deliberately positioning itself to attract more local and international investments by connecting infrastructure with markets and creating an environment where businesses can thrive while residents gain greater access to economic opportunities.
“The future of African investment will be shaped by cities where infrastructure connects markets, businesses can grow and people can access opportunity. Lagos is already building in that direction,” the governor said.
He noted that Lagos occupies less than 0.5 per cent of Nigeria’s total landmass but contributes more than a quarter of the country’s economic output, with the state’s economy estimated at approximately $259 billion.
The governor added that his administration was working to diversify Lagos’ economy and reduce dependence on crude oil revenues by strengthening other sectors.
Sanwo-Olu disclosed that more than half of the state’s N4.4 trillion 2026 budget had been earmarked for capital projects, while Lagos was targeting more than N3 trillion in internally generated revenue.
He also highlighted Lagos’ technology and business ecosystem, describing the state as home to Sub-Saharan Africa’s leading startup ecosystem, valued at approximately $8.6 billion and featuring three active unicorns.
The governor further identified the $1.5 billion Lekki Deep Sea Port and the 650,000-barrel-per-day Lekki Refinery as major investments contributing to Lagos’ economic expansion.
According to him, the Lekki Deep Sea Port currently handles about 40 per cent of Nigeria’s cargo, further strengthening Lagos’ position as a strategic commercial hub.
On transportation, Sanwo-Olu said the Lagos Blue Line rail service had transported more than eight million passengers since its commencement.
He added that the deployment of new eight-car trains was expected to raise the Red Line’s capacity to approximately 500,000 passengers daily.
The governor also highlighted the €410 million Omi Eko project, which involves the deployment of 75 electric ferries across 15 water routes to expand water transportation and improve mobility across the state.
Sanwo-Olu argued that the rapid urbanisation expected across Africa would make cities increasingly important to the continent’s investment prospects.
“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.
