Lagos State Head of Service (HoS), Hakeem Muri Okunola, on Monday emphasised that the competing needs for government resources makes Public Private Partnership (PPP) model a critical component of socio-economic development of the state.
The HoS made this statement in Ikeja during the PPP Lagos Roundtable themed – Creating Sustainable Development though PPPs.
Okunola commended the management team of the Lagos State PPP, and the director-general in particular for putting together the Roundtable initiative in such a timely manner, especially at the beginning of a new year when a brand new budget cycle was unfolding.
“Lagos is easily one of Africa’s most preferred investment destination. This should not be surprising given its strategic location, population and status as Nigeria’s commercial hub and the nation’s acclaimed ‘Centre of Excellence.’
“In recognition of the need to create an environment that is conducive to investment and living, succeeding administrations in Lagos had focused on the development and implementation of several policies and initiatives aimed at ensuring sustainable socio-economic development of our dear state,” he said.
According to Okunola, these policies and initiatives include the establishment of Ministry of Wealth Creation, the Office of Transformation, Creativity and Innovation, the Lagos State Office of City Resilience, Lagos State Neighbourhood Safety Agency, Light-Up Lagos Project, Lagos State Parks and Gardens Agency, One Lagos Fiesta, among others.
He also stated that the state government in partnership with the Federal Government had set machinery in motion in 2017 towards achieving a significant improvement in the World Bank’s ranking of Nigeria on the “Ease of Doing Business Index,” which involved the review and streamlining of the business processes of about 10 critical Lagos State Government Agencies that are relevant to investment promotion, leading to significant improvement in Nigeria’s ranking thereafter.
“Government’s conscious and deliberate efforts in this direction which also involved the restructuring and realignment of the State Public Service also resulted in the establishment of a special purpose vehicle known as the Lagos State Public Private Partnership Office,” he said.
The PPP Roundtable, which was an excellent platform for the interaction of stakeholders such as existing and potential investors, lenders, advisers, portfolio managers, insurance agencies and relevant Government MDAs which includes but not limited to Ministry of Justice, Lagos Global, Ministry of Finance, Lands Bureau, etc., explored the investment climate and opportunities in the state, legal and regulatory framework, as well as work-life balance.
Olumide Adeosun, director, strategy, PricewaterhouseCoopers, while delivering a general overview of the investment climate in Lagos indicated that investment and PPP opportunities still lies in the housing, education, power, transport and healthcare sectors of the state.
The director-general, office of Public Private Partnership, Ope George, assured that the outcome of the 2019 PPP Roundtable would go a long way in shaping the objectives and modalities for a sustainable Public-Private Partnership structure for the benefit of all in the State.
“The list of available opportunities is not limited. I am happy to inform you that investments made in the provision of social and physical infrastructure so far are yielding tangible returns to the government and private sector partners; it is a win-win situation for all,” he said.
