Governor Sanwo-Olu has been honoured with the 2026 Global Transformation and Good Governance Prize at the Warner Theatre in Washington, D.C., United States.
The Governor said he accepted the award on behalf of more than 25 million Lagosians, using the occasion to showcase Lagos as one of Africa’s most compelling investment destinations.
He said the future of African investment would increasingly be shaped by cities where infrastructure connects markets, businesses can thrive and residents have access to opportunities, noting that Lagos is already positioning itself in that direction.
According to him, Lagos occupies less than 0.5 per cent of Nigeria’s landmass but generates more than a quarter of the country’s economic output. He said the state’s economy is valued at about $259 billion and is becoming less dependent on crude oil revenues.
The Governor also disclosed that more than half of Lagos’ ₦4.4 trillion 2026 budget is allocated to capital projects, supported by a projected internally generated revenue of more than ₦3 trillion.
He highlighted Lagos’ growing technology ecosystem, describing it as the leading startup ecosystem in sub-Saharan Africa, with an estimated value of $8.6 billion and three active unicorns.
The Governor also pointed to major infrastructure projects, including the $1.5 billion Lekki Deep Sea Port, which he said handles roughly 40 per cent of Nigeria’s cargo, as well as the 650,000-barrel-per-day Lekki Refinery.
On transportation, he said the Lagos Blue Line has carried more than 8 million passengers, while the introduction of new eight-car trains is expected to increase the Red Line’s capacity to about 500,000 passengers daily.
He further noted that the €410 million Omi Eko project is supporting the deployment of 75 electric ferries across 15 water routes, as part of efforts to expand sustainable transportation and improve connectivity across the state.
The Governor said Africa is projected to add nearly one billion urban residents by 2050, stressing that investors seeking opportunities on the continent should pay close attention to cities where governance, infrastructure and effective execution are creating sustainable economic opportunities.
He expressed appreciation to the Asante Crown and the Millennium Excellence Foundation for the recognition, describing the award as an honour for Lagos and its people.
