Sanwo-Olu to establish Lagos state sovereign investment fund, lobbies NSIA to invest in Lekki airport project

Governor Babajide Sanwo-Olu of Lagos State announced plans to establish a Sovereign Investment Fund during a meeting with the Nigeria Sovereign Investment Authority (NSIA). This fund aims to strategically invest in future projects that will benefit the state’s development. The Governor highlighted key projects such as the Lekki Airport, Rail, Film City, and Food Logistics Hub as potential areas for investment by the NSIA.

Sanwo-Olu emphasized the importance of prudent financial planning, noting that a Sovereign Investment Fund would enable Lagos State to set aside resources for both current and future needs.

He also expressed interest in expanding healthcare infrastructure, aiming to replicate the success of the NSIA’s oncology center in Lagos University Teaching Hospital (LUTH) across multiple facilities in the state to reduce medical tourism.

Meanwhile, Aminu Umar-Sadiq, Managing Director/CEO of NSIA, underscored the authority’s role in managing funds for future generations of Nigerians.

He reported impressive financial performance, with NSIA achieving approximately N1.6 trillion in total comprehensive income last year, including core earnings of N200 billion.

Umar-Sadiq affirmed NSIA’s commitment to supporting both federal and state governments in Nigeria, offering their asset management expertise to benefit Lagos State’s development initiatives.