Lagos State is intensifying efforts to attract foreign investment, asserting itself as the premier destination for global investors eyeing opportunities in Nigeria.
The state government’s clarion call to international investors echoes its commitment to fostering economic growth while offering a conducive business environment, assuring potential partners of favorable conditions conducive to profitable ventures.
At the ongoing 2024 US-Africa Business Summit in Dallas, Texas, Lagos State Government, represented by Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, and Innovation, Science, and Technology counterpart, Tunbosun Alake, emphasized the state’s readiness for business collaborations.
The summit, hosted by Corporate Council Africa, serves as a high-profile platform for political and business leaders from Africa, the United States, and beyond to engage in strategic dialogue and networking opportunities.
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During a panel session focusing on infrastructure investment, Ambrose-Medebem and Alake showcased Lagos’ potential as an investment hotspot. They highlighted the state’s robust infrastructure development initiatives, led by Governor Babajide Sanwo-Olu’s administration, over the past five years.
Ambrose-Medebem underscored Lagos’ demographic advantage, boasting a population exceeding 25 million, with a significant youth demographic comprising over 60 percent. She emphasized the government’s investments in critical infrastructure projects spanning rail, water, healthcare, and housing sectors.
Highlighting key infrastructure milestones, she mentioned the Blue Line and Red Line rail projects, along with significant investments in healthcare, education, and technology sectors. She also spotlighted the Lekki Deep Sea Port, a testament to Lagos’ commitment to facilitating trade and commerce.
Echoing her sentiments, Alake emphasized Lagos’ emergence as a hub for startups and scale-ups, attracting billions in investment and creating substantial employment opportunities. He highlighted successful Public-Private Partnership (PPP) initiatives, including the deployment of 3,000 kilometers of fiber cables.
Delegates visiting the Lagos Stand at the summit expressed keen interest in forging partnerships with the state government, recognizing the mutual benefits of collaborative ventures. Lagos State’s proactive approach to wooing international investors underscores its strategic vision to drive sustainable economic growth and development.
(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)
