Sanwo-Olu woos British investors on investment opportunities in Lagos

Governor of Lagos, Mr Babajide Sanwo-Olu has called on British investors to take advantage of the mutually benefiting Public Private Partnership investment opportunities in the state.


Sanwo-Olu made the call at the Nigerian-British Chamber of Commerce (NBCC) webinar with the theme: “Meet the Governor of Lagos: Investment and Business Opportunities.”


The governor said the investments were in line with his administration’s sense of urgency to make Lagos a mega city and a leading light in Africa.


He noted that some of the key initiatives under his administration include; a robust traffic management and transportation system, improved health and environment mechanisms, technology, and enhanced education.


Sanwo-Olu highlighted others as improved security and governance infrastructure, revitalised entertainment, and tourism sector.


He urged the investors to be part of the over 120 active concessions across different sectors of the state such as health, power, entertainment and tourism, housing, education, technology, agriculture, commerce, transportation and traffic management.


Sanwo-Olu disclosed that information on potential investment by sectors, in line with his administration’s agenda, had been conveniently detailed in the Lagos State Investment Deal Book, to be unveiled in July.


The governor listed some of the investment opportunities to include; the state medical parks, cancer clinics, Imota power project and rice mill, Lagos State waste sorting and treatment centre and entertainment parks.


“Lagos has a robust transportation master plan inclusive of a red and blue rail lines, first and last mile bus schemes.


“We are currently building new terminals, about 15 jetties, and improving junctions and roundabouts in the state.


“We are also bringing traffic signalisation to help commuters predict arrivals to destinations.


“On health, we are making great strides to reduce medical tourism, by building international standards infectious diseases hospitals, about 10 cancer centres, where two investors have already shown interest and are creating spaces for the private sector to join us.


“Already, many of our primary health centres have been handed over to the private sector, and so you can see our readiness to work with them for improved health and environmental infrastructures.


“Also, for improved educational system, 100,000 pupils were trained in the CODE Lagos initiative, and metro duct fiber would be dropped in all public schools to enhance learning capabilities of the pupils,” he said.


Sanwo-Olu revealed that lots of investments by the state were ongoing to improve its security architecture by leveraging technology, to ensure citizens begin to feel safe and secure within the metropolis.


 “We already have about 2,000 high-definition cameras with close to 200 of those already up and running.


 “Lagos is also due for another international airport along the Lekki- Epe Expressway and we are in talks with developers and investors.


“To address the traffic situation along that axis, the 10 km alternative route project along the Lekki- Epe Expressway is at 30 per cent completion.


“And when completed, these projects would greatly contribute to the fulfilment of the THEMES agenda,” he said.


In his remarks, Mr Kayode Falowo, President, NBCC, said the webinar offers an opportunity for forward looking and economically key states in Nigeria, to showcase themselves to the global investment community.


Falowo stated that the webinar was in line with one of the Chamber’s cardinal objectives, to promote trade and investment between Nigeria and other nations and in particular, the United Kingdom.


He noted that Nigeria had become one of the most attractive countries in terms of trade and investment growth in Africa and a preferred investment destination for numerous foreign entrepreneurs.


Falowo described Lagos as Nigeria’s main economic, financial, and industrial hub with the largest tourism, fashion and entertainment industry in Africa.


He added that the state had been recognised as the best city for start-ups in the continent.


“Lagos has a population of 12.5 million and is well known for having the highest Gross Domestic Product and Internally Generated Revenue (IGR) base in Nigeria.


 “In the year 2020, the state recorded IGR of N418.99 billion, accounting for 32.1 per cent of the total IGR from states.


“The recently published Book-of-States by Nigeria Investment Promotion Commission showcases Lagos as the seventh fastest growing city in the world, with the highest concentration of young, skilled and educated workforce.


“It offers numerous opportunities for investment in agro-processing, transportation, healthcare, real estate, aquaculture, waste management, digital ecosystem and power infrastructure.


“We believe that this event will provide a good platform for your various enterprises to identify opportunities for collaboration with Lagos State,” he said.

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