Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has called for stronger collaboration between government and the private sector to support Africa’s digital economy and create more opportunities for sustainable growth.
Epe Insights reports that Sanwo-Olu made the call while participating in the Africa Forward: Investing in the Next Decade of Growth Executive Roundtable organised by Flutterwave in partnership with Invest Africa in New York.
The high-level meeting was held on the sidelines of the 81st United Nations General Assembly and brought together government officials, business leaders, investors and financial institutions.
Discussions at the roundtable focused on the opportunities and challenges surrounding Africa’s next phase of economic and digital development.
Sanwo-Olu said the meeting provided an opportunity for leaders from government, business and finance to exchange ideas on how to scale Africa’s digital economy.
He stressed the importance of partnerships capable of supporting the continent’s growth over the coming decade.
According to the Governor, unlocking Africa’s economic potential requires meaningful collaboration between the public and private sectors.
He said Lagos remained open to partnerships that could support job creation, investment and the growth of the State’s digital and business ecosystem.
Sanwo-Olu also highlighted Lagos’ ambition to maintain its position as an important digital and business hub in Africa.
He said strategic partnerships could help strengthen the State’s capacity to attract investment and support businesses operating within the digital economy.
The roundtable also examined some of the challenges facing African businesses seeking to expand across borders.
Participants identified fragmented regulations, limited access to growth capital and difficulties associated with cross-border movement of money as some of the barriers to wider expansion.
The discussions further considered the need for stronger financial infrastructure to enable African businesses to operate more efficiently across different markets.
Other areas explored included digital payment systems, institutional banking infrastructure, fraud prevention networks and access to long-term capital.
Flutterwave Founder and Chief Executive Officer, Olugbenga Agboola, said Africa’s next phase of growth would require deeper infrastructure capable of supporting businesses as they expand across borders.
He noted the importance of simplifying cross-border payments, expanding access to liquidity and capital, and developing trusted digital systems.
The session brought together a broad range of stakeholders from government, finance, technology and investment sectors.
Nigeria was represented by senior officials including Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, who represented Vice President Kashim Shettima, and Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
Other Nigerian participants included Katsina State Governor Dikko Radda, Sanwo-Olu and Nigeria’s Ambassador to the United States, Lateef Kayode Are.
Representatives of international financial institutions, investment organisations and technology companies also participated in the discussions.
The gathering provided a platform for stakeholders to examine practical approaches to increasing investment and strengthening Africa’s financial and digital infrastructure.
For Lagos, the Governor’s participation also provided an opportunity to highlight the State’s interest in partnerships that support economic activity and job creation.
Sanwo-Olu said the State remained willing to engage with investors and private-sector partners whose initiatives could contribute to Lagos’ development.
The Governor’s position aligns with ongoing efforts by Lagos to attract investment and strengthen its position as a centre for technology, finance, trade and innovation.
The State has continued to engage private-sector stakeholders on investment opportunities and economic development.
The discussions in New York also highlighted the importance of creating an environment where African businesses can expand beyond their domestic markets.
Participants agreed that stronger cooperation between government and business would be important in addressing infrastructure and financing gaps.
The roundtable concluded with a focus on expanding cross-border infrastructure, mobilising expansion capital and developing financial systems capable of supporting African commerce.
Sanwo-Olu’s participation comes as Lagos continues to position its digital economy as an important component of its broader development strategy.
The Governor said partnerships that combine public-sector support with private-sector expertise would remain important to creating opportunities for businesses and young people.
He also maintained that collaboration would be essential to translating Africa’s economic potential into tangible opportunities for its citizens.
The New York meeting therefore provided a platform for Lagos to engage with global business and investment stakeholders while contributing to discussions on Africa’s next decade of digital and economic development.
