Governor Babajide Sanwo-Olu of Lagos has urged member states of the Commonwealth to spend money on Africa, significantly Lagos.
Sanwo-Olu spoke on Monday on the Commonwealth Commerce and Funding Summit held at Mansion Home in London.
He mentioned Lagos provides not only a market however alternatives for partnership and long-term collaboration.
His phrases: “Africa is residence to the world’s youngest inhabitants. By 2050, one in 4 folks on this earth might be African.
“If the Commonwealth is to stay related — not merely as a sentimental compact, however as a real engine of worldwide commerce and funding — then Africa have to be central to its technique. And inside Africa, Lagos have to be a part of that dialog.”
Sanwo-Olu mentioned Lagos is positioning itself to draw international capital by infrastructure improvement.
He mentioned: “That’s the reason Lagos is investing in its port, its airport, its rail corridors, and its expertise infrastructure.
“As a result of we perceive that to draw international capital, you will need to first construct the foundations that make capital really feel at residence.
“In such a second, the Commonwealth provides one thing uncommon and precious: a community constructed not on worry, however on belief.
“Lagos is Nigeria’s {economic} capital. It generates roughly a 3rd of Nigeria’s GDP, and, have been it a standalone financial system, it will rank among the many prime 5 in sub-Saharan Africa.
“Our Blue Line and Pink Line rail tasks are actually operational — the primary metro rail system in West Africa. We’re about to fee one of many continent’s largest kids’s hospitals.”
Sanwo-Olu mentioned the state is strengthening governance programs and public-private partnerships, including that Lagos will host the “Put money into Lagos 3.0” summit in June.
His phrases: “We’re digitising our income and land administration programs. We’re doing this not just by ready for presidency budgets however by actively courting, structuring, and sustaining public-private partnerships.
“Put money into Lagos isn’t a convention. It’s a transaction platform and the premier event by which Lagos State formally engages the worldwide funding neighborhood.”