Sanwo-Olu seeks stronger Nigeria–South Africa investment ties as NSACC marks 25 years

Governor Babajide Sanwo-Olu of Lagos, has called for deeper and more strategic investment flows between Nigeria and South Africa, emphasising opportunities in manufacturing, technology-driven industries, the creative sector, and emerging green-energy ventures.

The governor made the appeal on Friday at the 25th anniversary dinner of the Nigeria–South Africa Chamber of Commerce (NSACC), held in Lagos and supported by corporate partners including MTN.

Governor Sanwo-Olu praised the Chamber for its sustained role in strengthening economic cooperation between the continent’s largest economies.

Represented by the Commissioner for Commerce, Trade and Investment, Mrs. Folashade Ambrose-Mendebem, Sanwo-Olu congratulated the Chamber for what he described as a “quarter-century of meaningful engagement” that has shaped bilateral business relations.

According to the governor, NSACC has evolved into one of the most influential bilateral business organisations on the continent.

Through regular policy discussions, trade missions and networking activities, he said, the Chamber has become a dependable avenue for investors and policy makers seeking clarity on cross-border business operations.

Sanwo-Olu noted that the organisation played a decisive role in helping major South African companies establish a strong presence in Nigeria.

He highlighted firms such as MTN, MultiChoice, Shoprite and Stanbic IBTC, which he said benefited greatly from the Chamber’s guidance and support.

He added that Lagos, being Nigeria’s commercial centre, remains the preferred entry point for most South African businesses operating in West Africa.

He attributed this to the state’s expanding digital infrastructure, robust financial sector, and the steady rise of service- and knowledge-driven industries.

The governor said Lagos has seen far-reaching benefits from these partnerships.

He cited the telecoms sector, where MTN has contributed significantly to digital access and innovation, and the financial sector, where institutions like Stanbic IBTC have helped grow capital-market activities and cross-border trade.

Sanwo-Olu also acknowledged the influence of South African companies in broadcasting and content distribution, noting that such investments have deepened digital inclusion while creating jobs and supporting local talent.

He reaffirmed the state government’s commitment to maintaining a business-friendly environment under its THEMES Plus agenda, with strategic investments in mobility, logistics, energy and industrial infrastructure.

He pointed to the Lekki Industrial Corridor and the developing Badagry Port District as examples of projects designed to attract global investors.

The governor further announced that Lagos, in collaboration with the Federal Ministry of Trade and Industry, had secured the hosting rights for the Intra-Africa Trade Fair scheduled for 2027.

Dr. Ije Jidenma, Chairman of the NSACC Board, described the Chamber’s growth as a journey that began with modest ambitions but has flourished through the dedication of its founding members and successive leaders.

She said the Chamber remained committed to expanding its impact over the next five years, focusing on strengthening trust and enhancing Nigeria–South Africa business relations.

She expressed gratitude to those who laid the foundation for the organisation, acknowledging their contributions to its longevity and relevance.

Also speaking at the event, Professor Bobby Moroe, Acting High Commissioner and Consul General of South Africa in Lagos, said the Chamber’s Silver Jubilee coincides with 31 years of uninterrupted diplomatic relations between both nations—an alignment he described as symbolic.

Moroe commended the Chamber for sustaining bilateral engagement despite economic and political challenges over the years.

He described the organisation as a dynamic bridge linking two of Africa’s strongest economies, anchored on mutual trust and respect.

He emphasised the potential of the African Continental Free Trade Area (AfCFTA) to open new frontiers in sectors such as technology, agriculture, energy and manufacturing.

He urged stakeholders to embrace innovation and strengthen collaboration, insisting that Africa is poised to emerge as a global centre of economic growth.

“Africans must harness their shared strengths to build an inclusive and prosperous future,” he said.