Ambode extends hands of welcome to Nigerians in Diaspora
Lagos has capacity to drive trade, investment, says Ambode
Lagos State governor, Mr. Akinwunmi Ambode has posited that the state has the capacity to drive trade and investment in the African continent.
Ambode dropped this hint when he met with potential investors from over 40 countries at the just concluded Trade and Investment Forum, put together by PricewaterhouseCoopers and held at the Dorchester Hotel, Mayfair, London.
The governor who spoke at a special session tagged ‘An Audience with the Governor of Lagos State’, said his administration is working hard to make the state the bridge into Africa and become the staging post for trade and investment in the continent.
He said the need for diversification of the economy in the wake of the ongoing decline in oil prices with its inevitable consequences on the nation’s economy, was not negotiable as Nigeria can no longer rely on a mono economy.
“We require huge investments in public infrastructure, production of energy, health and education to enable us take full advantage of the evolving economic conditions. The World Bank estimates that nearly $93 billion is required annually as investment in Africa and it is estimated that the city of Lagos will require at least a quarter of this figure”, he said.
Speaking on the topic, ‘Lagos: A City of Opportunity’, Ambode said that despite being the smallest state in Nigeria in terms of space, Lagos remains the commercial hub of the country as its GDP currently stands at $136.6 billion, while it contributes 25% to the GDP of Nigeria, making it arguably Africa’s fourth largest economy.
“The GDP of Lagos has an estimated growth rate of 10% and it is expected that by 2025 the GDP will be $355billion. At present, 18 of Fortune 500 global companies have a presence in Lagos state. As at January 2015, the population of Lagos was 21 million making it Africa’s largest city and the 3rd largest city in the world. The population has an average annual growth rate of 3.2% and is estimated to be over 30 million by 2025.These are indeed impressive figures”, he said.
Governor Ambode, however, said that like many other mega cities of the world, Lagos has its own challenges, but his administration is engaging key leaders within the private sector to tackle the challenges head on.
He said the strategic imperatives of his administration is built on four pillars, namely infrastructural development, Economic Development, Social Development and Sustainable Development.
“I would like to emphasise my government’s commitment to the development of Lagos. These are exciting times for our city and I urge you to reflect on the new market and frontiers which Lagos presents.
“As I conclude today, I will take this opportunity to invite Nigerians in the diaspora to come home. We need your skills and experience to contribute your quota into building our nation. We all have a “social obligation” to transform our country into the dream status we aspire, but it will require aggressive innovations and creativity from us all”, he said.
Governor Ambode and his team, which include some Commissioners and Special Advisers also participated in the Africa Global Summit (TGAIS) which started on December 1, at the Central Hall, Westminster, London, where they held several one-on-one meetings with key investors who have shown strong interest in investing in transportation, energy, infrastructure and agriculture sectors in Lagos.
http://dailytimes.com.ng/lagos-capacity-drive-trade-investment-says-ambode/ |
