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Vice President Shettima Hails Lagos as Nigeria’s Economic Powerhouse, Sparks Debate

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Promise Odejide

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Vice President Kashim Shettima has described Lagos State as the economic backbone of Nigeria and a major driver of Africa’s commercial growth, praising its role in shaping leading business fortunes across the continent.

Shettima made the remarks on Sunday during the opening of the Invest Lagos 3.0 Summit held at Eko Hotel and Suites, Victoria Island, Lagos, themed “Lagos: The Business Gateway to Africa.”

Lagos as Africa’s Economic Engine

Speaking at the summit, Shettima described Lagos as the “live wire” of Africa’s economy, noting that the state continues to serve as a hub for innovation, investment and enterprise.

He said Lagos has played a central role in the rise of some of Africa’s most prominent business figures, highlighting its importance in Nigeria’s economic structure.

“It was Lagos that gave Africa its richest man, not Kano. Aliko Dangote is a Lagos man,” he said.

He also referenced BUA Group Chairman Abdulsamad Rabiu, saying Lagos had similarly played a key role in the expansion of his business empire.

Debate Over Economic Narratives

Shettima’s comments have since triggered debate online, with supporters praising Lagos as a thriving commercial hub that attracts investment and talent from across the country.

Critics, however, argued that the remarks downplayed the origins and contributions of business leaders from other regions, insisting that their success stories are rooted in diverse backgrounds beyond Lagos.

Dangote and Rabiu’s Business Roots

Aliko Dangote, originally from Kano State, built his early trading ventures through commodity markets before expanding significantly via Lagos’ ports and industrial ecosystem.

Similarly, Abdulsamad Rabiu, also from Kano, grew BUA Group into a major conglomerate spanning cement, sugar, and manufacturing, with Lagos serving as a central base for operations and expansion.

Summit Focus

The Invest Lagos 3.0 Summit brought together policymakers, investors and business leaders to explore opportunities in Africa’s largest city economy.

Organisers said the event aims to promote investment, innovation and stronger public-private partnerships to support economic growth.

The Vice President also linked Lagos’ performance to broader national goals, including Nigeria’s push toward a $1 trillion economy target under President Bola Tinubu’s administration.

 

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