Business
Sanwo-Olu Reassures Investors as Lagos Drives Inclusive Economic Growth
Governor Sanwo-Olu reassures investors of Lagos’ stability, inclusive growth, and role as a national economic engine contributing 22% of Nigeria’s GDP
Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has assured investors and the business community that the state will remain open, stable, and forward-looking, highlighting Lagos’ critical role as a national economic engine contributing 22 per cent of Nigeria’s GDP.
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The assurance came during the Business Council Session of the Oniru Business and Cultural Day hosted by HRM Oba Abdulwasiu Omogbolahan Lawal, OON, the Oniru of Iru Kingdom, at the Oniru Palace in Lagos.
The Governor was represented by Deputy Governor Dr. Kadri Obafemi Hamzat.
Sanwo-Olu emphasised that Lagos hosts the largest concentration of SMEs in West Africa and serves as a gateway for foreign direct investment.
“These statistics are the result of deliberate governance choices and sustained reforms,” he said, underscoring the state’s deliberate policies to maintain economic vibrancy.
He highlighted the THEMES+ development agenda, which focuses on transportation, technology, innovation, and the digital economy, noting that policy support and infrastructure investment are driving Lagos’ position as Africa’s leading startup ecosystem.
Targeted programs are supporting SMEs, digital entrepreneurship, the creative economy, and vocational training, ensuring inclusive development.
“Empowering our youthful population with skills, mentorship, and access to markets is central to sustainable growth,” Sanwo-Olu added, stressing that continuity of vision and public-private partnerships remain vital for long-term prosperity.
The Governor also commended HRM Oba Lawal for preserving cultural heritage while fostering structured growth and investment confidence within Iru Kingdom.
“The Oniru Business and Cultural Day provides a model of how leadership can shape development responsibly,” he said, urging business council members to remain engaged in policy dialogue and civic responsibility.
In her goodwill message, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, represented by Special Adviser Efe Barber, highlighted Nigeria’s economic diversification drive.
She noted efforts to strengthen local production, deepen value chains, boost non-oil exports, and attract both domestic and foreign capital through structured national engagements.
HRM Oba Lawal explained that the Oniru Business Network and the Oniru Business Council will serve as permanent platforms to link enterprises, investors, artisans, and government agencies, ensuring that structured dialogue translates into measurable outcomes for the community and state economy.
Also read: Dangote Refinery Dominates 62% of Nigeria’s Petrol Market
The event reflects Lagos State’s commitment to inclusive, opportunity-driven economic growth, integrating tradition with modern governance to sustain investor confidence and prosperity for all residents.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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