Governor Babajide Olusola Sanwo-Olu, imparting practical, object lessons on infrastructure development to Post Graduate Students at Harvard University Business School
The Lagos State Governor, Babajide Olusola Sanwo-Olu, BOS, has persuaded investment bankers and postgraduate students in investment banking from all walks of life, at the Harvard University Business School, to look nowhere further than Lagos state for a wide spectrum of investments.
The governor who, was as usual, on his marketing and investment promotion drive for Lagos state, was before the international community at the aptly chosen Harvard Business School, HBS, to address the global community of international investors, and scholars in the Post Graduate Class, PGC, of Professor Bello Osagie, a renowned investment banker and a former Chairman of the United Bank of Africa, UBA.
Mr Sanwo-Olu launched his pitch with a five-minute video that highlighted the arrowhead of various sectors of the leading economy in both the central and western coasts of Africa, Lagos State.
The Governor succeeded in convincing his august audience why Lagos unarguably has been acknowledged as the preferred investment destination in Africa.
Sanwo-Olu chronicled the conscious efforts of successive governments in Lagos state since 1999, that have been preoccupied with rolling back the infrastructure frontiers of Lagos state to accommodate modern industrial technological development in its broad spectrum from ICT, to crude oil, to maritime economy, to fast moving consumer goods, and a vibrant population of 25 million people of which 60% are youths who are preponderantly ICT savvy.
.
Mr Sanwo-Olu copiously highlighted data to convince his audience why Lagos is the numero uno among investment destinations in Africa.
The governor availed his audience of hard facts about Lagos economy. He revealed to the scholars’ delight that the Gross Domestic Product, GDP of Lagos state is in excess of $259bn.
Sanwo-Olu also highlighted factors that have continue to make investors enjoy perching in Lagos to serve the bourgeoning market of over 250million people in the Federal Republic of Nigeria, FRN.
From the Central to the west coast of Africa, Lagos is the second largest economy after Nigeria hence, nations all around come to Lagos sea ports, four of them and the Murtala Mohammed International Airport , MMIA, to process their inward cargo such as raw materials, CKD parts and at times for exports.
According to the governor, prime of what makes Lagos environment thick for business are the well thought out government policies which have made subliminal, the ease of doing business in Lagos the west coast of African nations and the entire African continent such as the international airport, the existing four seaports, and investors friendly government policies.
According to report by Mr Cbenga Omotoso, Commissioner for Information and Strategy,”the students applauded as Sanwo-Olu spoke on the Blue Line, Africa’s first intra-city line, which has moved over two million passengers, an average of 42,000 commuters daily. The Red Line is also up and running, he said.
METRO TRAIN: 42-year delay by military junta jointly led by Gen Mohammadu Buhari and Tunde Idiagbon
It might also be instructive to note that the light rail service in Lagos would have by now marked 42 years ago but for the military junta insurrection led by General Muhammadu Buhari, and Tunde Idiagbon, on hijacking power in 31st December 1983, and truncating the democratically elected civilian government of President Shehu Usman Aliyu Shagari.
Also of concern was the manner in which the metro rail project, being executed by the then Lagos State Governor, Lateef Kayode Jakande, aka Baba Kekere, was terminated by the Gen Muhammadu Buhari-led junta.
The wanton profligacy of the junta led by Muhammadu Buhari and Tunde Idiagbon sadly agreed to pay a fine of more than half of the project sum to the contractor in Paris for the termination of the contract without an iota of plausible reason. Prudent management of taxpayers’ money would have been the completion of the city train project instead of throwing away money for a penalty.
LAGOS continues to bridge the infrastructure gap, rolling back its scope
To the students at the Harvard Business School, HBS, the governor chronicled the accomplishments of successive governments up to date, and how they have enabled Lagos to continue to excel in all socio-economic indices.
Sanwo-Olu enthused, “We are building a new airport on the Lekki- Epe Expressway, and work
is set to begin on the Green Line, which will connect that part of the State to Lagos Island,” he said.
Furthermore, Sanwo-Olu spoke on remarkable strides in education. He said “Two new universities have been set up, and a third, a University of Medical Science, is on the way to bridge the personnel gap in that sector,” he said.
Lagos, the governor said, is one of the foremost tech-driven states in Nigeria and on the entire west coast of Africa. The idea, Sanwo-Olu stressed, “is to have a big pool of tech personnel so that if Microsoft or Amazon is looking for 10,000 to hire, Lagos will be the place to go”. BOS described those policies and programs as intentional, saying “This is part of our 30-year Development Plan to make Lagos a human-centric economy,” for skillful and ICT compliant labour/work force he said.
According to BOS, this is possible because of Lagos’ 25 million population, about 60 percent is made of youths who are tech savvy.
He spoke of opportunities in tourism, arts, and culture. “There have been fashion shows, drama performances, and movies. In fact, a movie made in Lagos has just been nominated to premier at the Cannes Film Festival,” later in the year he said.
The governor further elucidated on works ongoing to launch Lagos tourism in a better light. ”We are trying to calendarise tourism and entertainment,” Sanwo-Olu told the excited audience of students from various parts of the world.
Also cited were achievements in roads and housing as well as health. Over 1000 roads have been built and rehabilitated and more than 3000 housing units have been provided to reduce the challenge in that sector,” Sanwo-Olu said, adding that more CNG buses were on the way to boost transportation and clean energy
On affordable health care, Sanwo-Olu said, the government is building a General Hospital, a mental health hospital and rehabilitation centre, and a new Massey Street Children’s Hospital, which will be the largest in Sub-Saharan Africa.
The students erupted with applause as Mr. Sanwo-Olu closed his presentation, which began with a five-minute video on Lagos – its beautiful skyline and huge potential for investments.
The students bubbled with questions on the highly seminal delivery by governor Sanwo-Olu, and asked questions on energy needs among others.
Mr. Sanwo-Olu cited the unbundling of the energy sector, stressing that the road is clear for investors to move in as the state governments now have power over generation, distribution, and transmission.
He clarified further, “We can give you a license. The system has been unbundled. We can concession an area for you,” Sanwo-Olu said. He was all smiles as he answered questions.
Sanwo-Olu advised his audience to invest in Lagos. “Some markets are saturated. They have built all the infrastructure they need; we are still building. Lagos is the place to invest,” the Governor said to the applause of the students.
Recall that a little over a year ago, Governor Sanwo-Olu was on the streets of London to highlight the parallel between city of London and Lagos, Nigeria.
He featured in numerous radio and television shows to highlight the uique selling proposition why Lagos is the haven for quick return on infrastructural investment in the city of aquatic splendor.
Mr. Sanwo-Olu addressed HBS scholars, and researchers on the theme, “Building the Future: Lagos State Infrastructure-led Transformation”. He was a guest in Professor Hakeem Belo-Osagie’s course, “Understanding Africa: Business, Entrepreneurship, Political Economy, and the Complexities of a Continent.”
Belo-Osagie is a foremost Nigerian investment banker and businessman.
https://www.facebook.com/share/1CnjVEJF33/ Facebook post of Gbenga Omotoso, Commissioner for Information and Strategy, Lagos State
About Post Author
