Sanwo-Olu Woos Investors, Says Returns Are Massive
Lagos State Governor, Babajide Sanwo-Olu, has charged prospective investors to consider the state as worthy of investment.
The Governor spoke as a keynote speaker at the virtual investment forum hosted by the Institute of Directors (IoD) for the United Kingdom business community in Nigeria.
According to the organisers, Sanwo-Olu is the first elected black leader to address the United Kingdom Institute of Directors (IOD-UK) in it’s over 100 years of existence.
The virtual summit which was sponsored by Nigerian tech entrepreneur and creator of the ‘Rate Your Leader’ app, Joel Popoola, also had in attendance business leaders, policymakers and some public sector leaders on investment opportunities in Nigeria, including Helena Drake, IOD branch manager for Yorkshire and North East.
Sanwo-Olu stated that his administration’s agenda with the acronym T.H.E.M.E provides immense opportunities for private sector capital from global investors interested in strong returns.
He assured the investors that Lagos state was committed to creating an enabling environment for businesses, reinforced by the recent automation of business registration, permits, and approvals.
He said, “Lagos is Africa’s model megacity, a global economic and financial hub that is safe and secure, functional and productive.”
He noted that there are a variety of investment opportunities in Lagos state worth over US$2bn in the areas of Education, Shoreline Protection of Lagos Lagoon Coastline, Rebuild Lagos initiative (Sequel to the #EndSARS protests), Health, Environment, and Transportation infrastructure.
He further explained that COVID-19 and #EndSARS affected governance in Lagos such as challenging livelihood, and also loss of infrastructures, employability and employment risk, slowing the pace of digital governance.
In education, Governor Sanwo-Olu said over $50m of opportunities exist in supporting the construction and rehabilitation of school buildings, leveraging technology to improve secondary school learning, and the Eko Excel project for primary schools. Considering the coastal location of Lagos, he informed investors that the state has a shoreline protection strategy that would require over $80m for partnership and investments.