Sanwo-Olu calls for stronger public-private partnerships to boost Lagos CBDs

Babajide Sanwo-Olu has emphasised the need for stronger public-private partnerships, streamlined regulations and modern solutions to empower Small and Medium Enterprises (SMEs) and attract global investors and drive the growth of Central Business Districts (CBDs) in Lagos.

Sanwo-Olu made the call at a CBD Stakeholders Summit with the theme: “Rebranding and Revitalising Lagos CBDs: Strategies for Sustainable Growth and Development”.

The event was held on Wednesday at the Muson Centre, Onikan, Lagos,

The governor was represented by his Deputy, Dr Obafemi Hamzat.

According to him, Lagos State was deepening public/private partnerships to finance and execute critical projects, streamlining regulatory processes and deploying contemporary solutions that support SMEs.

“This will also attract global investors and empower young professionals and informal sector participants who contribute significantly to the vibrancy of the CBDs.”

The governor stressed that CBDs were the nerve centres of Lagos State economy, determining the state’s competitiveness, investor perception, business growth, and the overall experience of millions of people.

He said: “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.”

Sanwo-Olu outlined three strategic pillars guiding the summit to include modern infrastructure for productivity and safety, sustainable urban regeneration, and a business environment driven by partnership and inclusion.

According to him, these align with the Lagos State Development Plan 2052.

He highlighted initiatives such as the Lagos Island Model City Plan aimed at improving urban form, enhancing walkability and strengthening environmental resilience, preparing Lagos CBDs for future challenges.

In his keynote address, the Managing Director and Chief Executive Officer of Wemabod Nigeria Ltd, Mr Bashir Oladunni, said that CBDs were the commercial heartbeat of any city.

Oladunmi added that CBDs were a convergence point for finance, trade, governance and history.

He said that CBDs needed a fundamental shift in perspective, adding that they should be managed as a portfolio of economic districts that required differentiated place specific interventions.

He said that a one-size-fits-all response from government would not deliver sustainable outcomes.

Oladunni noted that the summit reflected a shared understanding that the CBD remained one of the most valuable economic assets of Lagos State and its future must be deliberately shaped through coordination, evidence-based planning and sustainable partnership.

In a goodwill message, Mr Rauf Age-Sulaiman, the Chairman, Lagos State House of Assembly Committee on Special Duties, Intergovernmental Relations and Central Business Districts, described CBDs as critical to Lagos State’s economic and business growth.

He reaffirmed the commitment of the Lagos State House of Assembly to supporting and implementing policies that would enable CBDs to thrive across the state.

Earlier, Mr Bola Olumegbon-Lawal, the Special Adviser on CBD to Sanwo-Olu, noted the need for collaboration between the state government and private sectors to drive innovation and investment.

According to her, when policy and enterprise move in alignment, progress is inevitable.

“The future of Lagos CBD must inspire confidence in investors, pride in the residents, and belief in young entrepreneurs who see Lagos as the place where dreams are built.

“The modern CBD must be smart, digital inclusive and resilient. It must support multinational corporations and small businesses alike.

It must reflect Lagos unique energy while meeting global standards,” she said.