Sanwo-Olu hinges Lagos growth strategy on technology, innovation

Governor Babajide Sanwo-Olu of Lagos State says technology and innovation will take centre stage among strategies mapped to grow the state into a smarter and more efficient city.

The Governor, at an evening of ‘Conversations on Moral Leadership’ convened by Eko Innovation Centre (EIC) Sunday, said with a more supportive business environment, the state eyes growing technology start-ups from current 500 to about 2,000 next year, saying deployment of technology in different sectors of the economy is potentially viable for growth.

“There are some agencies that want to train 8,000 Lagosians every month in Information Technology, coding, networking. We will train the population members available and get them better. Technology will be very big for us,” he said.

Addressing moral leadership and its implication on growth, Sanwo-Olu, who was represented by Obafemi Hazmat, his deputy, noted that the culture of morals was not entirely foreign to Nigeria but began to decline with military incursion into the political system, desperation for acquiring wealth and the mindset of entitlement among many Nigerians.

While the general attitude of leadership must change, Sanwo-Olu encouraged wealthy Nigerians to make impactful contribution in lifting the less privileged, others.

Victor Afolabi, EIC co-founder said for the Nigeria to leapfrog some phases of development, entrepreneurs require the support of patient capital to leapfrog and fix ingrained colonial mindset of relying on grants.

“We need structures of for young people to understand that concept must attract commercial value for investment. If structures show that you can pay back it discourages investor,” Afolabi.
Corroborating him, Jacqueline Novogratz, chief executive officer Acumen said there also has to be a mindset shift on the path of investors from sole financial focus to giving opportunities to entrepreneurs.

“We have seen yearning of young entrepreneurs around the world to want entrepreneurial tools and they want the skill building of what moral leadership is all about”.

“We have now dozens of courses online. Almost a million people have signed up to take and about 500,000 are taking regularly; whether it is around story telling or financial analysis,” she said.