Lagos needs to create a priority sector for economic activities and deliberately look for investors that have the capacity, technicality and financial resource to execute projects that can transform the state to a 21st century economy, experts say.
The experts who spoke at the 9th Annual Public Lecture of the Institute of Chartered Accountants of Nigeria (ICAN), Lagos State Public Service Chapter (LSPSC) held in Lagos recently also say that the state must seek partnerships to develop critical resources for the priority sector.
“We need to create an anchor sector that is a clearly identified priority sector to build economic activities around which the state will anchor all its polities, programmes and projects. Must deliberately seek her market by looking out for investors with the capacity, finance and technicality to execute project within the priority sector,” Abiodun Adedipe, chief consultant, BAA consult said.
“Lagos must form an alliance to develop critical resources to be available for the priority sector and build other transportation mode around road infrastructure to address the issues of logistics in the state,” Adedipe said.
He gave an example on how Indonesia grew its economy to a 21st century by identifying palm oil production as its priority sector and building the infrastructure to attract the right investments while forming alliance.
He added that if the state can also strengthened its institutions, provide key infrastructures and develop skills with emphases on creative and critical thinking, Lagos will transform to a 21st century economy.
John Ekundayo, director, Ministry of Economic Planning &Budget, Lagos State, in his paper presentation on Making Lagos a 21st Century Economy: Prospect and Challenges identified uncontrollable population, housing deficits, environmental degradation, poor education system, inadequate healthcare facilities and bulging unproductive youths as major challenges hindering the state from transforming into a 21st century economy.
“Lagos should as a matter of urgency proactively harnessed alternative sources of power supply such as embedded power, erection of mass solar panels, and construction of independent power plants,” he said.
Similarly, Adebola Olujide Odubore, chairman, ICAN- Lagos State Public Service Chapter (LSPSC) said that the state is the eye in which the world sees Nigeria as Lagos is the country’s door to the global economy.
Odubore appreciate the Governor Sanwolu for the palliative measures being but in place now to ease the burden of Lagosians in the area of transportation.
Josephine Okojie
