By Our Reporter
Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for stronger public-private partnerships, streamlined regulations, and modern solutions that empower SMEs, attract global investors, and support young professionals for the vibrancy of CBDs in the state.
Governor Sanwo-Olu made the call on Wednesday while speaking at the Central Business Districts (CBD) Stakeholders Summit with, themed: "Rebranding and Revitalizing Lagos CBDs: Strategies for Sustainable Growth and Development," held at Muson Centre, Onikan, Lagos.
Sanwo-Olu, who was represented by his Deputy, Dr. Kadri Obafemi Hamzat, noted that the government's priority was to modernize infrastructure, improve mobility, strengthen public safety systems, and deliver services that make business districts efficient places to work, live, and invest in the state.
"We are deepening public-private partnerships to finance and execute critical projects, streamlining regulatory processes, and deploying contemporary solutions that support SMEs, attract global investors, and empower young professionals and informal sector participants who contribute significantly to the vibrancy of our CBDs," he said.
The governor further noted that the active involvement of government, investors, professional bodies, academia, civil society, and community stakeholders was essential to the overall development of Lagos Central Business Districts.
On the importance of CBDs as the nerve centers of Lagos' economy, Governor Sanwo-Olu stressed that the body function determines how the state competes, how investors perceive the state, how businesses grow, and how millions of people experience the city every day.
"Ultimately, the future of Lagos will be shaped not only by how fast we grow, but by how well we design the spaces where growth happens. If we get our Central Business Districts right, we strengthen the economic heart of Lagos. If we strengthen the economic heart of Lagos, we secure a more resilient, inclusive, and prosperous future for our people,” he said.
Furthermore, Sanwo-Olu noted that the theme of the summit was anchored on three strategic pillars, which include: Functional and modern infrastructure that supports productivity and safety; Sustainable and resilient urban regeneration, and a business environment driven by partnership and inclusion.
The governor added that these pillars aligned fully with the Lagos State Development Plan 2052, which he said places inclusive economic growth, infrastructure expansion, environmental sustainability, and human capital development at the center of our long-term vision.
The governor concluded that through initiatives such as the Lagos Island Model City Plan, developed through extensive stakeholder engagement, the state government was pursuing regeneration that improves urban form, enhances walkability, strengthens environmental resilience, and prepares Lagos CBDs for future economic and environmental pressures.
The Chairman, House Committee on Special Duties, Intergovernmental Relations and Central Business Districts, Hon. Rauf Olawale Age-Sulaiman, in his goodwill message, described Central Business Districts (CBDs) as critical to Lagos State’s economic and business growth.
The lawmaker reaffirmed the commitment of the Lagos State House of Assembly to supporting and implementing policies that would enable CBDs to thrive across the state.
In her welcome address, the Special Adviser to the Lagos State Governor on Central Business District, Mrs. Bola Olumegbon-Lawal, noted that the future of the state’s CBS must be inspirational, stressing that it must inspire confidence in investors, pride in residents and belief in young entrepreneurs who see Lagos as the place where dreams were built.
"The modern Central Business District is evolving, it must be smart, digital inclusive and resilient. It must support multicultural corporations and small businesses alike. It must reflect Lagos’ unique energy while meeting global standards," she said.
The Special Adviser reiterated that the state never lacked ambition, thereby urging the people that together they can position Lagos as the leading business destination in Africa, a city whose Central Business District reflects excellence and global relevance.
In his keynote speech, the Managing Director and Chief Executive Officer, Wemabod Nigeria Limited, Mr. Bashir Oladunni, noted that the State’s CBDs is the commercial heartbeat of the city, adding that it is a convergence point for finance, trade , governance and history.
Oladunni urged that the CBDs needed a fundamental shift in perspective, but must be managed as a portfolio of economic districts that required differentiated place specific Interventions, noting that a one-size-fits-all response from the government will not deliver sustainable outcomes.
The CEO noted that the summit reflected a shared understanding that the Central Business District remained one of Lagos’ most valuable economic assets, saying that its future must be deliberately shaped through coordination, evidence-based planning and sustainable partnership.
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