Commercial law firm, Perchstone & Graeys (P&G) has signed a partnership agreement with a non-profit organisation known as Development Agenda for Western Nigeria (DAWN) towards the upcoming South-West Investment Summit in Lagos.
The firm will amongst other things provide of strategic and sector-focused advisory services to the commission with respect to the summit, pre and post event.
Speaking exclusively to BusinessDay about this partnership, the director general of DAWN, Oluseye Oluleye, stated that the commission had approached P&G to seek advice on critical issues bothering on its work, particularly as it relates to the summit and how best to harness opportunities in certain sectors of the economy within the region. These areas include, Oil & Gas, Agriculture, Power, Energy, Banking and Finance, Aviation etc.
He said “We do hope that this partnership will equip us with the right knowledge and information to identify critical challenges and possibilities for growth and investment in these six states.”
Having worked with organisations such as the World Bank and Department for International Development (DFID) in issues concerning the region, the DG revealed that DAWN’s work was beginning to bring some impact in the region, as areas such as, budget planning, ease of doing business, civil service, etc., were becoming highly standardized in the states.
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He said, “Last year, we also worked with the World Bank to carry out a study known as the Lagos-Ibadan Economic Corridor, where the potentials and challenges of that corridor was critically examined. This was done over a six-month period, and the report gave birth to further discussions with the states.
Currently, there are talks to explore opportunities that could be harnessed over the next 20 years – with a view to not only developing but establishing the Lagos-Ibadan Economic Corridor.
Oluleye further disclosed that Member states have been very collaborative, with a new appreciation for the fact that working together would bring more advancement to the region.
As part of the provisions of this agreement, DAWN has made Perchstone & Graeys its liaison between any identified third party and the commission with respect to matters pertaining to the Investment Summit and other incidental matters. The collaboration also allows DAWN the use of the law firm’s head office as an out-of-station office for the commission to hold meetings in Lagos State, where the need arises.
DAWN is a non-profit technocratic institution set up by and comprising of the Governments of six southwestern states of Nigeria namely, Lagos, Oyo, Ogun, Ekiti, Osun and Ondo States. The Commission was established to engender cooperation and integration among these six states with a view to promoting and achieving socio-economic growth and development in the Region.
Also speaking at the signing, P&G partner, Tolulope Aderemi, disclosed that the partnership has a pre-summit phase and a post-summit phase.
“We would be working with DAWN on a sector-by-sector basis to identify investments, challenges and other critical issues within the region to be addressed at the summit and advising the commission on the most appropriate structure between it and foreign investors or between the respective states and the foreign investors,” Aderemi said.
Through its partnership with DAWN, Perchstone and Graeys would be working closely with government parastatals in these southwestern states. The firm would ensure that foreign investors who speak to state governments would be interacting and dealing with the relevant offices and officers for specific sectors of the economy.
The P&G Partner further said. “We would assist with developing negotiating capacity for the sort of engagements the states would have at this summit. Post summit, we would also be providing high-level training for officers of specific parastatals, for specific sectors to equip them with the requisite skills for future engagements.”
Currently, all economic advisers in the six – southwest states are working closely with DAWN towards the development and advancement of the region.
THEODORA KIO-LAWSON
