With a GDP of $259 billion, a 25 million population, four seaports and friendly government policies, Lagos is an investor’s delight, Governor Babajide Sanwo-Olu has said.
“Lagos is a place where people come in without anything and become somebody. We are a business and commercial powerhouse,” he said on Wednesday.
It was another sales drive for the “State of Aquatic Splendour” at Harvard Business School where Sanwo-Olu spoke on “Building the Future: Lagos State Infrastructure-led Transformation”.
He was a guest in Professor Hakeem Belo-Osagie’s course, “Understanding Africa: Business, Entrepreneurship, Political Economy and the Complexities of a Continent.”
Belo-Osagie is a foremost Nigerian investment banker and businessman.
For the Governor, it was an opportunity to share “Lagos’ bold vision and the tangible strides we are making in transportation, housing, innovation, and industrial growth”.
The students applauded as Sanwo-Olu spoke on the Blue Line, Africa’s first intra-city line, which has moved over two million passengers, an average of 42,000 commuters daily. The Red Line is also up and running, he said.
“We are building a new airport on the Lekki-Epe Expressway, and work is set to begin on the Green Line, which will connect that part of the state to Lagos Island,” he said.
Sanwo-Olu spoke on remarkable strides in education. “Two new universities have been set up, and a third, a University of Medical Science, is on the way to bridge the personnel gap in that sector,” he said.
Lagos, the Governor said, is one of the foremost tech-driven states in Nigeria. The idea, he stressed, is to have a big pool of tech personnel so that if Microsoft or Amazon is looking for 10,000 to hire, Lagos will be the place to go. “This is part of our 30-year Development Plan to make Lagos a human-centric economy,” he said.
This is possible, according to him, because of Lagos’ 25 million population, about 60 per cent is made of youths who are tech savvy.
He spoke of opportunities in tourism, arts and culture. “There have been fashion shows, drama performances and movies. In fact, a movie made in Lagos has just been nominated to be presented at the Cannes Film Festival,” he said.
”We are trying to calendarise tourism and entertainment,” Sanwo-Olu told the excited audience of students from various parts of the world.
Also cited were achievements in roads and housing as well as health. Over 1000 roads have been built and rehabilitated and more than 3000 housing units have been provided to reduce the challenge in that sector,” Sanwo-Olu said, adding that more CNG buses were on the way to boost transportation and clean energy.
In health, the government is building a General Hospital, a mental health hospital and rehabilitation centre, and a new Massey Street Children’s Hospital, which will be the largest in Sub-Saharan Africa.
The students clapped excitedly as Sanwo-Olu closed his presentation, which began with a five-minute video on Lagos – its beautiful skyline and huge potential for investments.
They asked questions on energy needs and others. Sanwo-Olu cited the unbundling of the sector, stressing that the road is clear for investors to move in as states now have power over generation, distribution and transmission.
“We can give you a licence. The system has been unbundled. We can concession an area for you,” Sanwo-Olu said. He was all smiles as he answered questions.
Sanwo-Olu advised his audience to invest in Lagos. “Some markets are saturated. They have built all the infrastructure they need. We are still building. Lagos is the place to invest,” the Governor said to the applause of the students.
