Lagos State Governor, Babajide Sanwo-Olu, has announced that the state government has achieved remarkable economic growth through the implementation of deliberate policies and strategic initiatives designed to create a conducive business environment.<\/p>\n
According to available statistics, the Gross Domestic Product (GDP) of Lagos State surged from N27 trillion to N41 trillion under Governor Sanwo-Olu’s administration. This impressive growth is attributed to the governor’s focus on promoting ease of doing business in the state.<\/p>\n
At the extraordinary 9th Lagos Corporate Assembly (LCA) held at Eko Hotel in Lagos, Dr. Kadri Hamzat, the Deputy Governor, represented Governor Sanwo-Olu. The event, themed “Unpacking Barriers to Ease of Doing Business: Accelerating Business Growth,” marked the fourth session of the Babajide Olusola Sanwo-Olu (BOS) Meets With Business Community series. The LCA serves as a vital public-private engagement platform, facilitating interactions between the state government and the business community to discuss issues crucial to the ease of doing business and economic prosperity in Lagos.<\/p>\n
During the forum, the Deputy Governor emphasized the administration’s commitment to fostering a business-friendly environment. He stated, “This gathering is a testament to our unwavering commitment to fostering a conducive environment for businesses to thrive in Lagos State. Lagos, the economic hub of Nigeria, is home to a diverse and dynamic business community. As your Governor, I am profoundly aware of the critical role you play as the engine driving the economy of our State. Your resilience, innovation, and contributions have been instrumental in positioning Lagos as a beacon of prosperity and progress.”<\/p>\n
Lagos occupies the enviable position of the fifth largest economy in Africa, with fourteen industrial estates and four Central Business Districts (CBD). The state hosts seventy percent of Nigeria’s total industrial investment, sixty percent of the nation’s commercial activities, contributes thirty percent to Nigeria’s GDP, and fifty percent to the non-oil GDP. With the fourth highest GDP in Africa, Lagos’ economic output is comparable to that of twenty-four African countries combined.<\/p>\n
Governor Sanwo-Olu’s T.H.E.M.E.S+ Development Agenda underpins the administration’s vision for a Greater Lagos, particularly the fourth pillar, which focuses on making Lagos a 21st-century economy. The agenda has introduced numerous policy reforms to ease business operations, including simplifying regulatory processes, improving infrastructure, and leveraging technology to streamline interactions between businesses and government agencies. The goal is to minimize bureaucratic bottlenecks and create a seamless experience for all businesses operating in the state.<\/p>\n
“I assure you of our continued support as our administration is unreservedly committed to providing the necessary resources, infrastructure, and policies that will ensure your businesses not only survive but thrive. We will continue to engage with you, listen to your needs, and implement reforms that will foster an environment necessary to grow your businesses,” the Governor reiterated.<\/p>\n
Dr. Jumoke Oduwole, a member of the Presidential Enabling Business Environment Council (PEBEC), highlighted the council’s mandate to remove bureaucratic obstacles and improve the perception of doing business in Nigeria. She noted that the council’s efforts are crucial in creating a more business-friendly environment nationwide.<\/p>\n
Mrs. Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade, and Investment, emphasized Lagos’ commitment to understanding the needs of businesses and investors. She stated, “Here in Lagos, we understand the language of business and what we need to do to get our investors and businesses to where they ought to be. This is why the State still retains its key status as the operational headquarters of many multinationals and Fortune 100 companies.”<\/p>\n
The Commissioner revealed that the state is in the process of constituting an Ease of Doing Business (EoDB) Team, tasked with interfacing with stakeholders in the business community through a one-stop-shop virtual interface. This initiative aims to further enhance the business environment and attract more investments into Lagos.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lagos State Governor, Babajide Sanwo-Olu, has announced that the state government has achieved remarkable economic growth through the implementation of deliberate policies and strategic initiatives designed to create a conducive business environment. According to available statistics, the Gross Domestic Product (GDP) of Lagos State surged from N27 trillion to N41 trillion under Governor Sanwo-Olu’s administration. […]<\/p>\n","protected":false},"author":16,"featured_media":38422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[566],"class_list":["post-38420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-lagos-govt"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=38420"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38420\/revisions"}],"predecessor-version":[{"id":38426,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/38420\/revisions\/38426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/38422"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=38420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=38420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=38420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}