Gov. Babajide Sanwo-Olu says the government will soon unveil a 30-year development plan, toward accelerating sustainable economic growth.
Sanwo-Olu made this known during the Lagos Chambers of Commerce and Industry (LCCI) private sector interractive meeting with the Governor on Tuesday in Lagos.
He said that the 30-year plan was in pursuit of physical development, social growth and economic prosperity.
According to him, the Lagos State Development Plan 2052 will be officially unveiled at the forthcoming ninth Economic Summit of the state, popularly known as Ehingbeti.
He said that the 30-year plan was developed with clear objectives from four strategic dimensions, aimed at positioning the state to achieve its vision.
Sanwo-Olu said that each of the four dimensions of the development plan would be achieved through over 400 policy initiatives that would be implemented throughout the period.
”The Lagos State Development Plan 2052 has been developed with a set of clear objectives across four strategic dimensions, which are to position Lagos on the track to achieving its vision.
”The dimensions to this plan are to keep a thriving economy that will make Lagos a robust, healthy and growing economy with adequate jobs and strategic investments to sustain growth.
”We are building a human-centric city in which every Lagosian will have access to affordable and world-class education, healthcare and social services.
”There will be deliberate effort to keep modernising our infrastructure, by providing reliable and sufficient infrastructure that meet the needs of a 21st century city.
”The plan will also bring about sustenance of effective governance. Lagos will have a supportive and enabling environment that creates opportunities for all Lagosians.
”This is a huge task that must be achieved between now and the nearest possible future,” he said.
The governor said that the plan would not be realised when the private sector – the drivers of the state’s economy – is not carried along in the implementation of the identified policy phases.
He thanked the business community for supporting the state government in dealing with arising issues in the challenging period of COVID-19 pandemic pushback.
According to him, more social burden could have trailed the pandemic have the private sector not considered the government’s entreaty that prevent mass retrenchment of workers.
Sanwo-Olu the state government would continue to improve on the ease of doing business in Lagos.
He said that in the last one year, Lagos had recorded massive influx of Foreign Direct Investment (FDI) to the tune of $750 million in the technology sector.
The governor said that the state had attracted global tech brands such as Equinox, Google, and Microsoft, among others.
He expressed hope that the meeting with the Organised Private Sector would lead to creation of new pathways, that would facilitate a more robust relationship with the sector.
LCCI President, Dr Michael Olawale-Cole, said that the meeting with Sanwo-Olu indicated the Chamber’s continued faith his administration for a better business environment.
Olawale-Cole said that Lagos had continued to be the investment haven for FDIs coming to the country, as the state alone accounted for 71 per cent of the $1,573 billion foreign investment Nigeria recorded in the first quarter of 2022.
He said that policy direction was critical for a thriving and supportive business environment in any economy, as the quality of the policy was a key consideration for local and foreign investment decisions.
According to him, with an improved business environment, Lagos can attract more capital inflows from Nigerians in the Diaspora, as a more sustainable funding for the provision of required infrastructure.
He said that enormity of needs in Lagos required the cooperation of both the public and private sector.
The LCCI boss announced that Lagos would be the official chief host of the International Tech and Telecommunication (ICTEL) Expo coming up in August.
The LCCI Deputy President, Mr Knut Ulvmoen, said that Sanwo-Olu took his most important decision to come out and meet with the investors.
The Norwegian, who has lived in Lagos for 36 years, said that he had witnessed the city transformed before his eyes into a blossoming economy.
”The Lagos narrative is a story in progress. The city is now cleaner than it used to be. I implore the government to focus more on education and make it accessible to the teeming young people. This is what will sustain the city in the long term.
”Government leaders should demand more than donations from the international community; they must come and create jobs,” Ulvmoen said.