A new push for an aggressive investment inflow to boost Lagos State’s economic growth was, yesterday, led by Governor Babajide Sanwo-Olu at a Pre-Summit Investors’ Roundtable in the state.
Sanwo-Olu and his team in the State Executive Council reeled out new investment focus and areas of opportunities before potential investors at the third edition of Africa Social Impact Summit (ASIS 3.0) organised by Sterling One Foundation in collaboration with Ministry of Commerce, Cooperatives, Trade and Investment.
The event with the theme: “Opportunity Made in Lagos” was held at Eko Hotels and Suites in Victoria Island, with business leaders, multilateral chambers of commerce, financial services executives and captains of industry in attendance.
Sanwo-Olu told the forum that he is projecting a positive economic outlook, given its expanding population and development of sustainable infrastructure to drive growth.
In spite of the challenging terrain in which many businesses operate, Sanwo-Olu said the state’s economy had demonstrated remarkable resilience to sustain existing businesses and welcome new investment.
The Governor stressed that the key reforms introduced and implemented by his administration were aimed at streamlining business development processes and building investors’ confidence in the State’s economy.
Sanwo-Olu said his government had been proactive in implementing business-friendly regulations and constantly reviewing Ease of Doing Business policies to lessen challenges associated with new business registration and obtaining permits. He said the digitization of services had eliminated bureaucratic bottlenecks, while enhancing stability in the business environment.
He said: “For us in Lagos, we have sustained a consistent growth in our investment profile. The minimum we can do is to take the growth another level and ensure that the gains of the past years are not reversed. In the last five years, Lagos GDP has grown by 50 per cent despite the difficult economic conditions Lagos has faced.”
