Vice President Kashim Shettima has described Lagos State as the economic “live wire” of Africa, saying the state has produced some of the continent’s most influential business figures and remains central to Nigeria’s development trajectory.

Shettima spoke at the Invest Lagos Summit 3.0 on Monday, where he praised the city’s economic history, leadership structure and role in shaping national prosperity.

He said, “Lagos is the live wire of our continent,” adding that “Lagos is the furnace in which our ideas are tested against the discipline of execution,” as he outlined the state’s importance to Nigeria’s economic direction.

The Vice President said Lagos represents the space where national ambitions are refined into practical outcomes, stressing that the city continues to shape Nigeria’s economic future.

He said Lagos remains a critical driver of national progress, noting that it reflects the country’s capacity to translate ideas into tangible development when supported by leadership and structure.

Shettima also credited Lagos for producing major business figures, stating that “it was Lagos that gave Africa its richest man, not Kano. Aliko Dangote is a Lagos man.”

He added that Africa’s second richest man, Abdulsamad Rabiu of BUA Group, also emerged from the Lagos economic environment, reinforcing the city’s influence on continental wealth creation.

According to him, “Lagos made almost everybody who is who in Nigeria,” while adding personal reflection, saying, “I am also a Lagos boy.”

Shettima further said Lagos has evolved into a model of governance and economic resilience, crediting successive leadership for its transformation over the years.

He said the state has demonstrated that “a place may be crowded without being confused, prosperous without being complacent, and ambitious without losing its soul.”

The Vice President also referenced the political foundation of modern Lagos leadership, noting that President Bola Tinubu “planted the tree whose shade has sheltered a succession of leaders committed to futurist ideas, institutional continuity, and disciplined governance.”

He said the foundation laid over the years has enabled Lagos to grow into a continental economic powerhouse.

Reflecting on the city’s past, Shettima said Lagos had undergone significant transformation, noting that it had once faced severe urban challenges but had since improved through sustained governance reforms.

He added that Lagos now stands as a major economic centre, contributing significantly to Nigeria’s GDP and hosting a large share of Africa’s leading startups and unicorn companies.

The Vice President said, “Of the nine unicorns in Africa, five are based in Nigeria, all in Lagos,” underscoring the city’s dominance in the continent’s innovation and investment ecosystem. (The PUNCH)