Bamidele Pushes Lagos, Five S’West States on Regional Investment Compact

• Seeks coordinated infrastructure, economic corridors, digital expansion to drive regional prosperity

Sunday Aborisade in Abuja

Leader of the Senate, Senator Opeyemi Bamidele, has urged Lagos and the five other South-west states to establish a regional development and investment compact to coordinate infrastructure, attract investments, and accelerate economic growth across the region.

Bamidele said the proposed Lagos-South-west Spatial Development and Investment Compact would provide a framework for Lagos, Ogun, Oyo, Osun, Ondo and Ekiti states to harmonise their development priorities, coordinate cross-border infrastructure projects and mobilise investments in areas of shared economic interest.

He made the proposal on Thursday in a keynote address at the Lagos Physical Planning Summit held at Eko Hotel and Suites, Victoria Island, Lagos, according to a statement by his media office in Abuja.

The senate leader stated that Lagos could not secure its long-term economic prosperity through isolated state planning, given its interconnectedness with neighbouring states in transportation, housing, agriculture, manufacturing, trade, labour markets and environmental management.

He called for a coordinated regional approach that would align physical planning with economic development, infrastructure investment and measurable improvements in citizens’ welfare.

He stated, “Lagos’ long-term prosperity cannot be secured through isolated state planning alone. Its economy is closely connected to neighbouring states through shared boundaries, labour markets, housing, agriculture, manufacturing, transportation logistics, trade and environmental systems.”

According to him, the proposed compact would enable Lagos and willing partner states to identify common infrastructure priorities, strengthen regional economic corridors and attract investments in projects capable of delivering benefits beyond individual state boundaries.

He said the initiative should bring together the six South-west state governments, relevant federal institutions, planning authorities, infrastructure agencies, the organised private sector, professional bodies and development partners.

Bamidele maintained that closer cooperation among the states would improve the coordination of regional transportation, power infrastructure, industrial policies, tourism development and investment promotion.

He urged the Lagos State government to lead the initiative by developing a practical framework that would translate regional development plans into implementable projects with clear economic and social benefits.

The lawmaker also challenged the state government to rethink its approach to physical planning, stressing that planning should go beyond a routine government function to become an instrument for generating economic value, improving social welfare, and strengthening environmental resilience.

He said achieving this transition would require a change in mind-set, stronger institutions, better investment priorities, and a closer relationship between development plans and implementation.

Bamidele said, “Lagos must move from planning as a governmental activity to planning as a coordinated system for delivering economic value, social welfare, environmental resilience and regional prosperity.”

He stressed that the success of the proposed compact would depend on the ability of participating governments to establish effective coordination mechanisms, agree on shared priorities, and mobilise the financial resources required to execute projects.

The senate leader urged Lagos to take advantage of the emerging digital revolution by expanding broadband infrastructure, deploying smart-city technologies, strengthening digital public services, and establishing more innovation hubs to support technology-driven enterprises.

He said investments in digital infrastructure and skills development would help position Lagos to compete more effectively in the evolving global economy.

Bamidele also called for policies that would equip the state’s workforce with relevant digital skills, enabling more residents to participate in the opportunities created by technological innovation.

He emphasised that physical planning, digital transformation, and regional economic cooperation should form part of an integrated development strategy rather than operate as separate policy initiatives.

According to him, the ability of Lagos to translate its development ambitions into tangible results would depend on the quality of its institutions, the consistency of its regulations, the transparency of its financing arrangements and the effectiveness of collaboration among stakeholders.

“The future of Lagos will depend not only on the quality of its development plans, but also on the determination with which those plans are financed, coordinated and implemented,” he said.

Bamidele added, “We must connect physical planning to economic development, infrastructure investment to measurable public benefits, digital innovation to effective governance, and state-level priorities to regional cooperation.”

He said the state government must strengthen institutional capacity, promote predictable regulations, ensure transparent financing and encourage responsible investment to achieve sustainable development.

The senate leader called for sustained collaboration among government institutions, private-sector operators, professional bodies, communities and development partners, arguing that such cooperation was essential to delivering lasting economic benefits.

He maintained that a regional approach to development planning would enable Lagos and its neighbouring states to maximise their respective economic strengths, reduce the challenges associated with fragmented planning and build a more integrated South-west economy.