Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu said on Thursday that his administration is committed to a private sector-driven economy where government is preoccupied with designing and implementing policies and providing critical infrastructure and amenities that will support the growth and development of private enterprise in the various sectors of the economy.
Governor Sanwo-Olu gave this pledge while speaking at an event to make the release of “The World Ahead 2023” a publication of the “The Economist” Magazine held at the Ecobank Pan African Centre, Victoria Island, Land.
Speaking through the Deputy Governor, Dr. Obafemi Hamzat, Sanwo-Olu added that one of the key policy objectives which his administration have pursued vigorously in the past four years is to achieve a significant improvement in the investment profile of the State through the provision of an enabling environment for investments to thrive.
He said, “As a pragmatic and proactive administration, our policy initiatives and programs are designed to provide solutions to present and future challenges. One of the key policy objectives of our administration and which we have pursued vigorously in the past four years is to achieve a significant improvement in the investment profile of the State through the provision of an enabling environment for investments to thrive.”
The Governor emphasized that his administration would continue to sustain friendly and collaborative relationships with the business community with a view to developing solutions to issues of mutual concern.
Speaking further, Sanwo-Olu noted that as the Nigerian economy and several economies across the world, have been impacted by the attendant results of global issues as well as other incendiary circumstances in the security space, the state government, is constantly seeking out innovative strategies to ensure that the state’s economy maintains its steady rise, and Lagos continues to play a leading role as Africa’s fastest growing economy and choice destination for investment.
He said his administration believes that Technology is a key enabler, and as such, is working assiduously that Lagos becomes a hub for innovation and talent by creating an environment for young people to develop their skills and drive the technology of companies of the future.
To this end, he said his administration saw the official opening of Microsoft’s first Africa Development Centre in Ikoyi, which is Microsoft’s first of such in Africa that will support the development of technology and engineering solutions driven by world-class African talents.
He disclosed that as a result of the improved and enabling environment which the government has created through its business friendly policies, Lagos State has continued to attract over 60 percent of all Foreign Direct Investments into the country. These investments cut across different sectors with the Lekki Free Trade Zone which recently witnessed the commissioning of a multi-purpose, ultra-modern deep sea port facility becoming Africa’s major industrial hub.
Commenting on the publication, Sanwo-Olu said, “There is no gainsaying that this publication is a most valuable document for policy makers, and top private sector players whose perspectives and understanding of events and their implications will greatly help in corporate and strategic planning.”
He added that the insights which the publication will provide, will enhance the capacity of policy makers and business owners to develop more realistic plans and strategies to achieve set goals in 2023 and beyond.
Earlier in his welcome address, the Regional Executive and Managing Director, Ecobank Nigeria Limited, Bolaji Lawal stated that the publication presents a unique opportunity and facilitates knowledge sharing platform for many Nigerians and business operators across Africa.
He added that it will assist in providing new ways to explore or drive the growth of the economy of Africa and how to unlock the capabilities of the African digital and technological sector for the overall good of Africans.
Lawa said, “We all need to get it right. We need to drive economic growth. We need to drive economic transformation and ultimately create more jobs for overall African Population”
Similarly in her remarks, the Managing Deputy, CT Productions, Camellia Oros Tsarouchis disclosed that the publication, “The World Ahead 2023” is a flagship publication of the most influential media day part and is actually shaping the world willingly with its future oriented topics simply relied on by many. She added that the publication was based on issues that are most paramount to African economy growth.”
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