Lagos Governor Babajide Sanwo-Olu Signs Lagos State Wealth Fund Bill
Posted on 10/17/2022
Babajide Olusola Sanwo-Olu is a Nigerian politician and the current Governor of Lagos State. Babajide Sanwo-Olu signed the Lagos State Wealth Fund (LSWF) bill. The state government in Lagos is starting the process of creating the Lagos State Wealth Fund.
The Lagos State Wealth Fund will be like a strategic development sovereign wealth fund (SDSWF) with a goal of luring and making it easier to do business in Lagos. The Lagos State Wealth Fund also seeks to save wealth to prevent Lagos revenue from external shocks. Lagos is the biggest metropolitan area in Africa. The area is generating 10% of Nigeria’s total GDP of US$ 432.3 billion.
