Business

Lagos Improving Business Environment – Sanwo-Olu

Lagos State Governor, Mr. Babajide Sanwo-Olu has expressed his administration’s commitment to facilitating an improved business environment in the State.

The Governor made the remark at the celebration of the “Lagos State Day” and Closing Ceremony of the 36th edition of the Lagos International Trade Fair held at the Tafawa Balewa Square, Lagos on Sunday.

Represented by the Secretary to the State Government, Mrs. Folashade Jaji, the Governor stated that his administration has done a lot to improve the business environment through the implementation of business-friendly policies.

His words: “As I speak, construction works are ongoing in all parts of the State with the goal of creating a conducive environment for business, living and leisure. Some of these are already facilitating the intra-city and inter-state exchange of goods and services. The Lekki Deep Sea Port has been completed and commissioned to commence operation in 2023. We have consciously made provision for land space for investors at Lekki Free Zone with 16,500 hectares and did the same at Gberigbe in Ikorodu, Badagry, Ibeju Lekki and other places for development”.

“The institutionalisation of Public-Private Engagement Mechanism (PPEM), tagged: ‘Lagos Corporate Assembly’ has become a veritable platform for receiving inputs and feedback from members of the Organised Private Sector (OPS) on Government Policies and Programmes. Many of such inputs we received are been incorporated into our policies for improved business environment”.

Sanwo-Olu also said that through the creation of Lagos State Export Promotion Committee to Promote Exportation of Locally Made Products, his administration is working with various stakeholders to position products and services in the State for increased export.

“I am happy to note that our efforts are yielding the desired result as Lagos has become a compelling brand that no investor or business can ignore”, he said.

Also speaking at the event, the Commissioner for Commerce, Industry and Cooperatives, who was represented by the Special Adviser to the Governor on Commerce, Industry and Cooperatives, Engr. Abiola Olowu, remarked that the Sanwo-Olu’s administration continues to maintain the status of a committed business crusader, adopting intentional policies and a steady focus to encourage entrepreneurs in line with global best practices.

“This is why it may interest you to know that out of over $1.7 billion venture investments that came into Nigeria, 70 percent came into Lagos startups. Over the past six months, about $1 billion in Data Centre investment has poured into Lagos because of some of the projects the State is executing and some of the regulations we are pioneering. The administration of Babajide Olusola Sanwo-Olu is working on a Smart City Plan to transform Lagos into a technology-driven State, hence, connecting businesses, creating value for stakeholders in the various sectors of the economy to thrive in their day-to-day business activities”, she maintained.

The President of Lagos Chamber of Commerce, Industry and Cooperatives, Asiwaju (Dr.) Michael Olawale Cole, commended Governor Babajide Sanwo-Olu and applauded his disposition and commitment to the promotion of close collaboration between the Lagos State Government and the Organised Private Sector in the State.

“We appreciate his inclusive approach to governance and for issuing Letter of Commitment for the release to LCCI, a parcel of land to build our own Convention and Exhibition Centre. With the Lagos State Government and LCCI, a lot is bound to happen. This can only happen in Lagos. We also thank the Commissioner for Commerce, Industry and Cooperatives, Mrs. Lola Akande for her continued support and encouragement. The Organised Private Sector (OPS) shall stand solidly behind the State in its quest to actualise its recently launched Development Plan”, he said.

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