Lagos Island Central Business District, with a vibrant population of industrious people
The Chief Marketing Officer of investments potentials Lagos State is endowed, Governor Babajide Olusola Sanwo-Olu, BOSS, has identified the unique selling proposition, USP, of the state of aquatic splendor to include, among other things, the over 22 million vibrant population who are the potential consumers of fast moving consumer goods, and the unique historical narratives of Lagos which is similar to the unique history of the ancient city of London.
Governor Babajide Olusola Sanwo-Olu who left the comfort of his office and the serenity of his official lodge in Lagos House, hit the streets of London, and physically participated in various investment promotions fora – road shows, media chats, etc., with the view to attracting Foreign Direct Investments, FDI, to explore industrial potentials in Lagos State.
According to the media statement from the state government, signed by the Commissioner for Information and Strategy, Gbenga Omotoso, Mr. Sanwo-Olu was present at the Lord Mayor’s Show held in London and provided tailor-made information to investment critical inquiries that arose at the various events.
Sanwo-Olu who explained the rationale for his physical presence and personal involvement among the foot soldiers in the investment drive on the streets of London said, “Conversations around the potential in which the State was endowed had not been fully told”, stressing that he personally led the State’s investment drive to London in order to avail foreign investors of invaluable information and to clear doubts that may surround the State’s business climate.
The Governor informed the various international business communities that converged at the promotional shows that, “the tech industry is very important to Lagos state. In the last four years, Lagos has become the capital of tech start-ups, among nations in the East, Central, and the West Coast of Africa sub-regions.
He said “The sheer number of new entrants into the tech space shows that there is still a lot of depth we need to bring into the technology sector. Building capability in the technology space will help us drive and improve the financial service sector, where we have a whole lot of financial products that need to be deepened”, Sanwo-Olu emphasized.
Babajide Sanwo-Olu volunteered areas where the return on investment is bullish and at the same time invited more international financial organizations to come to Lagos and explore among others, the creative industry and production in any of the Fast Moving Consumer Goods, FMCG.
He explained that those sectors of the economy are germane because, “Lagos does not have the luxury of land for extensive farming, but we are very well in other business areas because of the size of our population and nature of services people need,” he said.anwo-Olu further gave the reasons why Lagos is the destination of choice for international investors thus, “Lagos remains a key player in the African economic order, with a Gross Domestic Product, GDP, bigger than economies of Kenya, Ghana, Rwanda and Senegal.”
He enthused, “The coastal State lacked the luxury of landmass but had been a major player in service-focused investment, given its growing population and the size of its market”.
Highlighting the structure that the state government is putting in place to sustain the campaign for investment in Lagos, its number one citizen narrated thus, “As part of our drive to promote more foreign direct investment into Lagos, we have recently constituted International Financial Council, IFC. The whole idea is for us to be able to let the world know what is happening in Lagos” Sanwo-Olu said.
The Governor also volunteered the task of the IFC thus, “The International Financial Council, IFC, will be setting up strategies where we can handhold British companies and investors willing to come to Lagos to invest their capital. The Council will avail them of the red tape, regulatory and legal framework. Investors will know what kind of permits and approvals they need to have. The Council will set up structures where communication and collaboration will be facilitated.”
No doubt a bold step at elevating Lagos to the same pedestal if not surpassing what obtains in the best of climes for commerce, industrial technology, and the creative arts in all of its genres to thrive in the commercial headquarters of Nigeria, Eko Akete, Lagos State.
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The details been bandied here is the opposite of what’s happening in Lagos right now. Check out the expenditures for the governor, his deputy and other officials where millions of Naira are budgeted for fragrance etc which is trending not only on social media but the print and broadcast media. Get a copy of the Guardian newspaper of today 20th November and get educated. You can highlight what the governor said but let’s have your opinion on the issue under discussion,, the merits and otherwise please.