Lagos State governor, Akinwunmi Ambode on Sunday called for a broader partnership with private sector players to further grow the economy of the state.
Lagos is Nigeria’s economic and business hub accounting for most of the quoted companies in the country.
Lagos, according to the National Bureau of Statistics (NBS) latest figure, generated N334 billion in 2017, higher than the combined revenue of 30 states in Nigeria.
But Ambode believes that the state can achieve even more together with the private sector and thereby further raising its Gross Domestic Product (GDP).
The governor spoke at the closing of the 2018 edition of the Lagos International Trade Fair, on Sunday, while also expressing the belief that participants and exhibitors in the just concluded fair would take the business and investment opportunities that Lagos economy offers.
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“I urge you to partner and connect with us in Lagos State, as there are abundant investment opportunities waiting to be explored. Our state is investor-friendly, and with your partnership, we are committed to do more,” said Ambode, who was represented by his deputy, Idiat Adebule.
Olayinka Oladunjoye, the state commissioner for commerce, industry and cooperatives, while also speaking, said that the annual participation of the state at the fair afforded it opportunity to host hundreds of Micro, Small and Medium Enterprises (MSMEs) freely at its pavilion.
Oladunjoye said that the opportunity given the MSMEs would stimulate demand for their products, facilitate inflow of capital through exposures and networking as well as boost productivity, employment and profitability.
The commissioner added that the state was well-positioned to harness its strength and potential and to connect businesses by encouraging investors to leverage and identify synergies that added value to them.
She said that the state would continue to create an enabling environment for businesses to thrive in the state.
Mudashiru Obasa, speaker, Lagos State House of Assembly, represented by Jude Idimogu, chairman, House Committee on Commerce, urged the Federal Government to intensify efforts in curbing importation of goods to boost local production.
He said that encouraging local production and patronage would boost the nation’s economy, competitiveness and create employment for its teeming youth population.
“It is our collective responsibility as Nigerians to patronise goods made in our country. We cannot continue to grow the economy of other countries at the detriment to ours,’’ he said.
Babatunde Ruwase, president, Lagos Chamber of Commerce and Industry (LCCI), the organisers of the annual trade fair, described Lagos State as the commercial, industrial and financial hub of Nigeria and indeed the economic gateway of Sub-Saharan Africa.
Ruwase said that the state was host to several large and small industries with a fast growing population that currently stood at about 22 million.
The LCCI boss said that there was need to proactively tackle the peculiar challenges of urbanisation as the state’s mega status continued to emerge.
JOSHUA BASSEY
