By EBELE NWANOLUE
LAGOS State, has disclosed that it has started the process of generating 3,000 megawatts of the embedded power initiative towards increasing electric power generation in the state.
Speaking at the closing ceremony of the Lagos International Trade Fair, Governor Akinwunmi Ambode said as a promising global economic and financial hub, Lagos state would not stop being a pathfinder in Nigeria’s drive for economic recovery and sustainable growth.
“Blessed with a buoyant private -sector led economy, qualitative physical infrastructure, formidable legal and regulatory institutions, as well as enviable human capital comprising 60 per cent labour force out of a population of over 22 million people; Lagos State indeed, is the discerning investors delight”
“Apart from improving the quality of lives and living standards of our teeming citizenry, our Infrastructure overhaul, especially over the past two years, is aimed at enhancing business prosperity and accelerating industrial revitalisation. The transportation sector has witnessed an aggressive boost with construction of new roads, bridges and related infrastructure; as well as overhaul of our water ways management equipment with channelisation of four new commercial ferry routes on the waterways” he said.
Ambode who was represented by the Secretary to the State Government, Mr. Tunji Bello, said little wonder, these innovative policies and numerous others, have tremendously contributed to Lagos’s ability to account for Nigeria’s movement by 24 steps higher, from 169 to 145, in the World Bank’s Global Doing Business Ranking 2018 report.
“And this is why I am proud to invite you, distinguished members of the local and international business community to join the Lagos State train in the Nigeria’s economic recovery drive. Opportunities largely abound for private investments and public-private partnerships in the sectors such as agriculture, manufacturing, wholesale and retail trade, tourism and hospitality, building and construction, down to the service sector” he said.
The President of LCCI, Chief Nike Akande said that latest figures Internally Generated Revenue by States from the National Bureau of Statistics showed that Lagos state generated about N302 billion in 2016, the highest in Nigeria.
“The Annual States Viability Index, ASVI, computed by Economic Confidential also showed the State coming first with 169 percent. With a population above 22 million, Lagos State hosts several large and small industries and with a fast growing population. As mega cities emerge in Nigeria, there is need to proactively tackle the peculiar challenges of urbanisation. We would always advocate for a conducive business environment where private businesses can thrive. The private sector has a bigger capacity to generate jobs and lift people away from poverty,” she said.