Lagos State Governor, Mr. Babajide Sanwo-Olu, has pledged unwavering support for the business community, assuring them of a conducive and hassle-free environment for their operations. Speaking at the 2023 Lagos Corporate Assembly, Governor Sanwo-Olu emphasized the importance of a harmonious relationship between the government and businesses, underscoring his commitment to propelling Lagos State towards becoming a key player in the global economy.
During the assembly, the Governor urged government agencies to engage with corporate organizations and SMEs in a compassionate manner, promising swift resolutions to pertinent issues. Governor Sanwo-Olu reinforced his dedication to facilitating a seamless environment for businesses to thrive, aligning with the vision of the President to elevate Nigeria’s economy to new heights by 2030.
Infrastructure and Economic Imperatives
Governor Sanwo-Olu also highlighted the pressing need for substantial infrastructure investment, revealing that Lagos State would require a budget of approximately N7 trillion to address infrastructural and basic amenity needs in 2024. Despite the challenges posed by the current global business landscape, the Governor emphasized his administration’s unwavering determination to fulfill its promises made during the campaign period, dismissing excuses and emphasizing the imperative of meeting the state’s infrastructural demands.
The Governor voiced the administration’s commitment to leveraging modern technology and enduring policies in addressing infrastructure needs, acknowledging the unanticipated inflationary pressures. He stressed the urgency of the situation, emphasizing the need for collective action and innovative solutions to surmount the challenges to ensure a sustainable economy, particularly for MSMEs.
Prospects for Enhanced Engagement
Governor Sanwo-Olu also outlined plans to foster enhanced collaboration between the state government and federal agencies, highlighting the forthcoming engagement with officials from the Federal Ministry of Trade and Investment and key federal agencies. This strategic interaction is poised to align both the government and the private sector towards harmonious economic advancement.
Additionally, the Lagos State Commissioner for Commerce, Cooperative, Trade and Investment, Mrs. Folashade Ambrose-Medebem, affirmed the government’s commitment to fostering a favorable business environment, citing ongoing reforms and engagements aimed at attracting more Foreign Direct Investment and supporting existing businesses. The commissioner assured stakeholders of the government’s unwavering commitment to bolstering the industrial and commercial sectors to maximize their contributions to the state’s GDP.
A Unified Call for Support
In a show of solidarity, the President of the Lagos Chamber of Commerce and Industry, Dr. Michael Olawale-Cole, lauded Governor Sanwo-Olu as the most business-friendly Governor in Nigeria, calling on the business community to throw their weight behind the Lagos State Government. Embodying this spirit of cooperation, industry leaders and entrepreneurs echoed the need for intervention in various areas such as double taxation, government policies, and infrastructure deficits, underlining the criticality of addressing these challenges for the collective benefit of Lagos and Nigeria at large.
In conclusion, Governor Sanwo-Olu’s unwavering commitment to fostering a business-friendly environment and championing economic growth resonates as a testament to the government’s responsiveness and dedication to creating an enabling environment for sustainable business development in Lagos State.
