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Lagos Speaker Obasa Sends Clear Signal to Investors on Power of Strong Institutions

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Obasa warns Strong Institutions Growth is vital for economies, urging investor confidence in Lagos’ governance and reform-driven investment climate

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Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, Lagos, Nigeria, on Saturday, 16 May 2026, told a gathering of global investors, diplomats and policymakers that Strong Institutions Growth remains the foundation of any economy seeking long-term prosperity and international capital confidence.

Also read: QEDNG Brings Creative Stakeholders Together In Lagos

Speaking at the HOC Capital Club in Lekki during a keynote address themed “Legislative Leadership and the Role of Global Private Capital in Modern Economic Growth,” Rt. Hon. Mudashiru Obasa stressed that sustainable development cannot be achieved without clear laws, accountable governance and consistent policy direction, arguing that these elements form the bedrock of investor trust.

In a firm and authoritative address, Rt. Hon. Mudashiru Obasa declared that legislative leadership plays a decisive role in shaping economic stability, noting that the constitutional mandate of the Lagos State House of Assembly is designed to reinforce transparency through oversight of public funds and governance processes.

“All the money that comes into the treasury must be legislated upon by the House for transparency. The power of the purse is the most effective weapon for the people’s representatives to control government spending,” Rt. Hon. Mudashiru Obasa said, underscoring what he described as the practical importance of institutional strength in driving investor confidence and Strong Institutions Growth.

He further argued that credible institutions and regulatory predictability are essential to attracting quality global capital, while cautioning that economic expansion must translate into tangible benefits such as job creation, poverty reduction and improved public services.

His remarks were delivered in a tone that combined policy clarity with a pointed emphasis on accountability, drawing attention from investors present at the high level gathering.

Rt. Hon. Mudashiru Obasa highlighted several legislative frameworks he said have reshaped Lagos State’s investment environment, including the Public Procurement Law (2021), the Public-Private Partnership Law (2011/2015), and the Electric Power Sector Reform Law (2024).

He also referenced property protection measures and the ₦4.44 trillion “Budget of Shared Prosperity” for 2026, which allocates more than half of spending to capital projects as evidence of a deliberate growth strategy anchored in Strong Institutions Growth.

The Speaker also pointed to broader reforms such as the Sovereign Wealth Fund initiative, tax harmonisation efforts and the proposed Railways Corporation Bill (2025), describing them as part of a long-term legislative vision aimed at strengthening investor confidence and economic resilience.

Observers noted that the address carried a confident and forward-looking tone, with moments of emphasis on Lagos’ ambition to position itself as a leading destination for global private capital.

The setting, the HOC Capital Club in Lekki, is an exclusive network for high net worth individuals and policy stakeholders, underscoring the international focus of the engagement.

Concluding his remarks, Rt. Hon. Mudashiru Obasa said the future of economic growth will depend heavily on the quality of public leadership and the confidence it inspires among global investors, reinforcing his central message on Strong Institutions Growth.

Also read: Easter: Obasa Urges Christians To Embrace Hope, Unity, Renewal

“Together, we can unlock the full potential of Lagos, strengthen Africa’s economic future, and establish a new benchmark for economic and diplomatic engagement on the global stage,” he said, leaving a message that Lagos remains open, ambitious and strategically positioned for global capital inflows.

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NNPC, Dangote and Other Major Partners Back GOCOP’s 2027 Elections Conference

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NNPC, NLNG, Customs and Dangote are among partners for the GOCOP 2026 conference on 8 October in Lagos, themed around the 2027 elections (more…)

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Lagosians Deserve Better Quality of Life, Leadership — Labour Party’s Odunaike

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Labour Party governorship candidate in Lagos State, Rotimi Odunaike, has declared that improving the quality of life of residents will be the defining priority of his administration, arguing that governance should ultimately be measured by how people live, work and move around the state.

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Odunaike made the remarks while speaking on Daily Digest with Jimi Disu on Nigeria Info, where he said his decision to contest the 2027 governorship election was inspired by his lifelong connection to Lagos and his concern over what he described as the steady decline in residents’ everyday living conditions.

“Lagos raised me,” he said, reflecting on his childhood in the state before spending part of his professional career abroad.

According to him, the Lagos he grew up in was not without challenges, but it offered a better quality of life than many residents experience today.

He said his focus was not on headline economic figures but on the daily realities confronting ordinary Lagosians.

“When I look at the state of things and the quality of life, I’m not talking about numbers and I’m not talking about statistics. I’m talking about the impact to Lagosians on their quality of life,” he said.

Using his journey to the radio station as an example, Odunaike said he left his home in Ikeja before 7 a.m. but still spent about an hour getting to the studio.

“That is not living. That is surviving. It’s not even thriving,” he added.

The Labour Party candidate argued that mobility should be treated as a quality-of-life issue rather than merely a transport challenge, saying efficient movement across Lagos would expand access to jobs, businesses and economic opportunities.

He also linked poor infrastructure and environmental challenges to the struggles of informal-sector workers, particularly traders whose businesses are often disrupted by flooding and other urban problems.

According to Odunaike, Lagos should demonstrate its reputation as the “Centre of Excellence” through the actual delivery of quality governance, improved mobility, affordable housing, a stronger economy and better public services.

Rather than centring his campaign on personalities, he said his ambition is to present a people-focused vision for Lagos built on values, service and leadership.

Reflecting on his upbringing, Odunaike credited the discipline instilled by his mother, a Nigerian Army officer, and his years in military schools for shaping his understanding of public service.

He argued that strong values remain the foundation of effective leadership, adding that although people may face challenges that test their principles, a deeply rooted value system ultimately guides them back to their core.

“At the end of the day, it is about them,” he said, referring to the people of Lagos.

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Nnaji Accuses Enugu Government of Lawlessness Over Campaign Office Raid

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Chief Uche Geoffrey Nnaji, the Peoples Democratic Party governorship candidate in Enugu State, has accused the state government of “lawlessness” following an alleged raid on his campaign office along Abakaliki Road, where he said campaign posters and other materials were removed.

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Nnaji alleged that officials of the Enugu State Environmental Protection Agency entered the premises and tore down campaign liveries displayed on the office, fence and surrounding areas.

He described the alleged action as an invasion of his privacy and a troubling escalation of the dispute over political advertising in the state.

“My privacy has been invaded by the Enugu State Government. My personal campaign office was attacked by the Enugu State Environmental Protection Agency and all my posters torn down in contravention of an ongoing court process,” Nnaji said in a statement.

The former Minister of Innovation, Science and Technology said the alleged enforcement action was particularly concerning because of a pending legal challenge over the state’s political signage regulations.

According to him, a Motion on Notice had been served on the relevant parties and the parties were awaiting the hearing of the case when the alleged removal took place.

“A Motion on Notice was served on them and we are waiting for the hearing of the matter when they embarked on their ‘Destroy Enugu First Campaign’,” he said.

Nnaji argued that government agencies should exercise restraint when a disputed policy is before a court, saying political disagreements should not override respect for private property and due process.

“What makes this development particularly disturbing is that the Enugu State Government’s signage policy is currently being challenged before the Federal High Court, Abuja, and a Motion on Notice has already been served on the relevant parties,” he said.

The legal challenge follows the introduction of a mandatory ₦150 million advertising permit by the Enugu State Structures for Signage and Advertisement Agency for political parties and candidates participating in the 2026 and 2027 elections. The agency said the permit covers various forms of outdoor and visual campaign promotion across the state’s 17 local government areas.

ENSSAA General Manager Francis Aninwike said the permit was part of the agency’s statutory responsibility to regulate outdoor advertising, maintain environmental aesthetics and protect public infrastructure.

The agency subsequently reaffirmed its ban on the unauthorised pasting and display of posters across the state, warning political parties, candidates, campaign organisations and supporters that violations could attract financial penalties and other sanctions. The September 9 notice said the restriction was backed by the Enugu State Structures for Signage and Advertisement Agency Law No. 12 of 2016.

ENSSAA had also previously announced a statewide enforcement exercise against unauthorised outdoor advertisements, including political campaign materials, stating that the exercise was not targeted at any individual or political group.

The ₦150 million permit has, however, remained a major point of disagreement between the state authorities and opposition parties.

In June, the PDP and other opposition parties instituted a suit challenging the legality of the permit requirement. Reports on the case said the parties asked the Federal High Court to determine whether ENSSAA and the Enugu State Government had the constitutional authority to impose the fee on political parties and candidates.

Nnaji maintained that the existence of a signage regulation did not remove the obligation of government agencies to respect due process, citizens’ rights and judicial proceedings.

“Why the haste? Why destroy first when the court is already seized of the matter?” he asked.

“The rule of law requires patience, restraint and respect for due process. Where a policy or governmental action is before a competent court, the proper course is to allow the judiciary to determine the legality of the disputed policy rather than resorting to actions that might appear to prejudge the matter.”

The controversy comes as political activities intensify in Enugu following the September 26 local government elections and ahead of the 2027 general election. ENSSAA has maintained that its advertising restrictions apply regardless of political affiliation and has urged political actors to use approved advertising channels and other platforms for campaign communication.

Nnaji, who was recently confirmed as the PDP’s governorship candidate for the 2027 Enugu election, has continued to criticise the state government over issues including campaign regulation and the political environment in the state.

For the PDP candidate, however, the latest dispute is not simply about the cost of political advertising. He said the central issue was the alleged entry into his campaign premises and removal of campaign materials while the legality of the signage regime remains subject to judicial consideration.

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