On Monday, Lagos State Governor Babajide Sanwo-Olu played the role of the consummate salesperson, reciting his administration’s accomplishments over the previous three years to attract investors to the state.
On the fringes of the 77th session of the United Nations General Assembly, Mr. Sanwo-Olu met with a group of potential investors at a roundtable hosted by the Business Council for International Understanding (BCIU) at the Park Lane Hotel in the centre of the city. The group of business titans who pushed him to see himself as an envoy of the private sector to the Federal Government responded with enthusiasm.
Despite COVID-19, the governor talked confidently about the significant progress Lagos State has accomplished over the previous three years. As a guide, he used the THEMES Agenda, the six-pillar growth strategy of his government.
According to the Governor, the state’s GDP has increased by $5 billion to around $145,141 billion, the budget has doubled to over %N1.7 trillion, and infrastructure development has been phenomenal. The Red Line and Blue Line rail projects are on pace to be commissioned by the end of the year, he said, citing the first pillar of THEMES, which is transportation. According to him, the train stock for the Red Line, which his government initiated, is its route to Lagos, and work on the stations and overpasses to offer a pleasant commuting experience is proceeding as planned. About four more rail lines must be constructed for the state to be completely serviced by rail in order to relieve traffic congestion.
Mr. Sanwo-Olu did not mince words on the aim of the meeting, which was to entice more investors to Lagos, the location of 80% of Nigeria’s Foreign Direct Investments. He talked of potential in water transportation, noting that the state’s fleet of ferries has increased from seven to twenty-one, with many more operated by private operators. Sanwo-Olu suggested that investors might quadruple the fleet size.
Many of the 15 jetties being constructed by the state are ready for commissioning, he added, emphasising that the goal is to have an integrated urban transportation system, bolstered by a strategic road infrastructure, such as the Lekki-Epe Expressway and the Fourth Mainland Bridge, which have attracted a large number of investors, one of whom will be selected by the end of the year.
According to the Governor, the state intends to construct an Infectious Diseases Research Centre to combat health issues such as COVID-19.
Over 1000 school projects have been completed and “we have introduced technology to make teaching and learning an exciting experience”.
“We are seeing the results. We used to have about 36% pass in School Certificate Examinations; now we have about 80%,” Sanwo-Olu said.
“We are opening brand new schools and introducing technology by giving teachers tablets to aid their job.”
He discussed the 6,000 kilometres of fibre optic cable being built across the state, noting that the first phase of 3,000 kilometres was almost complete. This, he added, would provide quicker and more affordable internet access, hence enhancing service in hospitals and schools and promoting the amazing activities of the IT ecosystem’s young.
Mr. Sanwo-Olu referred to Lagos as “entertainment capital of Africa.” In addition to mentioning the recent Headies Awards in Atlanta, he said that a Film Village was in the works. He noted housing prospects and assured potential investors of “the sanctity of contracts,” with the state hiring more justices to facilitate the efficient functioning of the Judiciary.
Regarding safety, Mr. Sanwo-Olu said that Lagos is “the safest state in Nigeria.” He said that small enterprises are receiving funding, while youngsters and women are also being promoted.
However, it was not just an issue of passing grades. The governor mentioned obstacles such as waste disposal, stating that around 4000 metric tonnes of waste are created everyday. According to him, this should entice investors who are eager to convert trash into money – a route the government is willing to pursue. Mr. Sanwo-Olu said that there are other difficulties in the water, energy, and other areas that investors must address.
Mr. Sanwo-Olu was met with enthusiastic applause as he concluded his speech.
Replying, the Managing Director (Africa) of McLARTY Associates, Amb. (ret.) Terence P. McCulley, praised Mr Sanwo-Olu for an insightful account of his administration’s policies and projects. He said many “people who have returned from Lagos have spoken of how they no longer recognize the state because of the developments taking place there. He is of the view that the Governor has done well “because good governance is about providing services.”
Amb. McCulley said: “You can be the ambassador of the private sector to the Federal Government, providing an enabling environment for manufacturing, agriculture and technology, which are drivers of diversification.”
A participant discussed the finding of technological potential among Nigerian adolescents. He said that such skills were being lost to other nations because Nigeria was unable to keep them. Mr. Sanwo-Olu said that the government was doing a great deal to connect new graduates with companies that teach them to make them employable as part of its Graduate Internship Programme, which has attracted thousands of young people. There are other programmes, he continued, agreeing that a talent retention plan is required.
At the meeting were Stephen Jennings, founder and CEO of Rendeavour, the organisers, Country Head, Nigeria, Rendeavour, Eyong Ebai, CEO, Africa, GE Healthcare, Mr Patrick Santillo, Senior Vice President, BCIU, Mr Biodun Dabiri, Chairman, Lekki Worldwide Investment and many others.
With the Governor were Economic Planning and Budget Commissioner Sam Egube, Energy and Mineral Resources Commissioner Lere Odusote, Information and Strategy Commissioner Gbenga Omotoso, Special Adviser on SDG and Investments Mrs Solape Hammond, Special Adviser on Public Private Partnership Ope George and Mrs Ibilola Kasumu, Permanent Secretary, Ministry of Science and Technology.