Lagos State government has indicated its readiness to explore new public-private partnership (PPP) initiative in developing new businesses to deepen trade and commerce in the state towards a sustainable job creation.
“My government will, therefore, continue to harness public-private machinery in developing new business opportunities in manufacturing, agriculture and agroprocessing, renewable power, oil and gas, transportation, and affordable housing development,” Babajide Sanwo-Olu, governor, Lagos State, said.
Sanwo-Olu stated this at the close of the 2019 Lagos International Trade Fair, which also doubles as the 33th edition of the annual trade and commerce fair.
According to Sanwo-Olu, the state government will continue to build on existing legacies of past government in Lagos by supporting the growth of local economy. “…improving the ease of doing business, providing easy access to finance, repositioning the public service to better support businesses, and accelerating infrastructure investments.” Sanwo-Olu was represented by Lola Akande, the commissioner for commerce, industry and cooperatives.
Speaking further on the investment drive of the state, the governor disclosed that Lagos remained the largest market in Africa for state’s attraction as the preferred investment destination in Nigeria. This, he said, was responsible for the recent “financial closure worth $629 million for the development of the Lekki Deep Seaport was secured about two weeks ago.”
He said this move which, no doubt, would catalyse the speedy delivery of the port project, was a manifestation of the confidence of investors in the state.
On the recent upward movement on Nigeria in the World Bank Ease of Doing Business ranking report 2020, where Nigeria moved 15 places upward, Sanwo-Olu stated that it was a clear testament of the efficacy of various reforms embarked upon by the current administration, as Lagos was one of the index states used for analysing Nigeria’s ease of doing business.
Babatunde Ruwase, president, Lagos Chamber of Commerce and Industry (LCCI), said the success of the 2019 Lagos trade fair showed that foreign investors and businesses had demonstrated their faith in the Nigerian economy.
Ruwase however urged the Lagos State government to expedite action on a permanent site for the fair, as the current condition was not economical for businesses, and equally asked the government to continue to address the ease of doing business in the state.
