Lagos State Governor Babajide Sanwo-Olu has praised President Bola Ahmed Tinubu’s economic reforms, noting they are beginning to shift Nigeria’s global image from negative to positive.
Speaking at the 2025 Annual Thanksgiving Service of the Lagos State Government, themed “Harvest of Thanksgiving” at Tafawa Balewa Square in Lagos, Sanwo-Olu expressed confidence that both Lagos and Nigeria are on the brink of a transformative era.
“In 2024, we faced tough and difficult but necessary decisions. Under the leadership of His Excellency President Bola Ahmed Tinubu, we tackled long-overdue economic reforms to lay the foundation for the country of our dreams,” the governor stated.
Sanwo-Olu acknowledged the hardships caused by the reforms but emphasized their long-term benefits. He pointed to increasing public revenues, improved macroeconomic stability, and strides in job creation, investments, and social welfare as indicators of progress.
“We are already seeing the emerging shoots of the positive outcomes of these reforms. The harvest that awaits us as Nigerians, following our many sacrifices and perseverance, will be a very gratifying one,” he said.
Highlighting the reforms’ impact, he noted that the new national minimum wage is now being paid, with Lagos surpassing the baseline. He also cited the Nigerian stock market’s performance in 2024, where the All-Share Index closed above 100,000 for the first time, as a testament to economic recovery.
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Sanwo-Olu detailed Lagos’ achievements in 2024, showcasing the state as a model for development. These included:
– The commissioning of the first phase of the Red Line rail project.
– Progress on the Blue Line rail project.
– Large-scale infrastructure developments like the food and logistics park and a state-of-the-art children’s hospital, among the largest in Africa.
He also highlighted Lagos’ burgeoning cultural and economic potential, fueled by the return of Nigerians from the diaspora.
“We have seen an exciting glimpse of the huge economic and cultural potential that lies in the enthusiastic homecoming of our people from around the world,” he remarked.
Sanwo-Olu commended private sector contributions, particularly the Dangote Refinery’s commencement of petrol production and the groundbreaking of the 12,000-seat Lagos Arena, which he said would redefine Nigeria’s arts and entertainment sector.
Looking ahead, he pledged to scale up efforts across key sectors in 2025.
“In Lagos State, we are very mindful of this shared responsibility, and we will redouble our efforts in every sector, setting the pace for the rest of the country. We are keying into the President’s Renewed Hope agenda, and by synergizing our efforts with it, we will ensure that peace, progress, and socio-economic prosperity are guaranteed for the good people of Lagos State,” Sanwo-Olu affirmed.
Key initiatives for 2025 include, according to Sanwo-Olu, include:
– Financing major projects like the new Lagos International Airport and the expansion of the municipal rail system.
– Advancing the Lagos State Electricity Law of 2024 to build a sustainable electricity market for reliable and affordable power.
– Scaling up investments in education, healthcare, security, and wealth creation.
Sanwo-Olu concluded with optimism, predicting brighter days for Nigeria under Tinubu’s reforms and reiterating Lagos’ commitment to leading by example.
“Let us carry forward the lessons learned from the past year and the hope that together, we can create a safer, more secure, and economically stable nation. The future of Nigeria is bright, and Lagos will continue to set the standard,” he said.