Sanwo-Olu: Youths Behind 70% of New Businesses in Lagos

Lagos State Governor, Babajide Sanwo-Olu, has revealed that young people account for about 70 percent of newly established businesses in the state, underscoring their critical role in driving economic growth.

He made this known on Monday during the Abuja Dialogue, an event organised by the Office of the Vice President in partnership with the Lagos State Government, themed “Scaling Excellence: Youth Leadership as Strategic Infrastructure for National Transformation.”

According to the governor, Lagos youths are not only active in entrepreneurship but are also contributing significantly to the state’s economy through innovation. He noted that young people generate an estimated ₦4.5 trillion annually to the state’s GDP.

“These figures reflect real performance, not just potential. When young people are empowered, they deliver tangible results,” he said.

Sanwo-Olu also highlighted the role of the Lateef Jakande Leadership Academy in grooming future leaders through structured training, mentorship, and exposure to governance and policy-making. He explained that the initiative is designed to equip participants with practical skills for public service and leadership.

The governor called on other states to adopt similar youth-focused programmes and emphasized the need for stronger collaboration between federal and state governments in developing human capital. He added that just as infrastructure projects receive national funding, there should be a framework dedicated to building human capacity.

Also speaking at the event, Deputy Chief of Staff to the President, Hassan Hadejia, stressed that youth development must move beyond rhetoric to practical capacity-building that prepares young people for leadership challenges.

Meanwhile, Executive Secretary of the Lateef Jakande Leadership Academy, Ayisat Agbaje-Okunade, said the dialogue aimed to foster collaboration among stakeholders to strengthen youth empowerment efforts across the country.

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