Lagos State governorship aspirant, Dr Kadri Obafemi Hamzat, has urged Nigerians and stakeholders in the financial sector to pay greater attention to the country’s emerging economic gains, saying positive developments are often overshadowed by negative public narratives.
Hamzat spoke on Tuesday, October 27, 2026, at the commissioning of the Canary Point Finance Headquarters in Victoria Island, Lagos, where he cited the rapid growth of the company’s workforce as evidence of improving economic activity.
According to him, the financial institution, which had about 95 employees in 2022, now employs approximately 400 people, a development he said reflects the impact of changing economic conditions.
“I said, in 2022, how many employees do we have? They said about 95. But today, they are 400. So what has changed? I asked them, what changed between 2023 and now? It’s economic principles. That is what has changed,” Hamzat said.
He, however, expressed concern that such developments were not receiving adequate public attention, arguing that Nigeria’s public discourse often places greater emphasis on negative developments while positive economic indicators are downplayed.
“We elevate the negatives and downplay the positives. That’s a challenge that we must all address,” he said.
Hamzat said his observation was not limited to Canary Point Finance, noting that he had engaged with several financial institutions and observed similar trends in their businesses.
He also pointed to the performance of companies operating in the same market, saying the simultaneous growth in profitability among competitors was an indication of underlying economic activity that deserved greater recognition.
The former Lagos State Commissioner further stressed the importance of housing finance and mortgage development, describing access to affordable mortgages as critical to improving the living conditions and dignity of Nigerians.
According to him, the average African family often spends many years constructing a house, sometimes at the expense of other essential needs such as education and healthcare.
“Housing is very important, and I hope that we can partner on mortgages because that’s something that we must dig into, so that rent and housing do not take the dignity of our people away,” Hamzat said.
He also highlighted the potential of Lagos’ technology ecosystem, recalling the state’s decision in 2012 to promote broadband infrastructure in Yaba because of its concentration of tertiary institutions and young people.
Hamzat said the initiative had contributed to the emergence of a major technology economy in the area.
“We deliberately pushed broadband to Yaba. Look at what has happened there today. We realised there were a lot of young people, and they have built a $15 billion economy in Yaba,” he said.
He identified affordable broadband, security and an enabling environment as key factors required to unlock the potential of young Nigerians and businesses.
While congratulating Canary Point Finance on its new headquarters, Hamzat challenged the company to view itself as its biggest competitor and to continually improve its standards.
“Your competitors are not the other companies. You are your competitor. So fight yourself, fight yourself well, ethically,” he said.
He also warned financial and technology companies about the growing threat of cyberattacks, noting that the increasing digitisation of public and private services had made cybersecurity an increasingly important component of economic development.
Hamzat disclosed that Lagos State was working towards establishing a cybersecurity centre, citing previous cyberattacks on digitised government systems as evidence of the need for stronger digital protection.
“As we are building, be ready. God will be with you,” he told the company.
Hamzat maintained that sustainable national development ultimately depends on economic efficiency, innovation, investment and the ability of governments and businesses to create an environment where productive enterprises can thrive.
