At the World Economic Forum holding in Davos, Switzerland, till January 25, the governorship candidate of the All Progressives Congress Babajide Sanwo-Olu, has highlighted the enormous investment opportunities in Lagos State at an exclusive session with selected Swiss Investors in Geneva, yesterday.
At the event, which held at the Mandarin Oriental Hotel, the business interaction triggered commitments of $5 billion investment in infrastructure and capital projects in the state and also, provided an avenue for Mr. Sanwo-Olu to further reinforce the investment opportunities in the state.
While the array of investors comprising commodity traders, equity managers, investment bankers, Fintech and Information Technology experts, infrastructure builders, international donors, energy and power companies unanimously agreed that Lagos is fertile ground for investment, they cited political risk as a more disturbing consideration over economic risk.
Reassuring them, Sanwo-Olu told the investors that Nigeria is safe for investment and Lagos stat,e as the economic nerve centre of the country, presents the best environment for global investments.
He said: “There is progressive leadership and stability in the governance of Lagos State since 1999.
“The state has been under the administration of a party, my party, which is an all progressives party for more than 16 years. The state has remained a reference point for infrastructural development and economic prosperity in Nigeria and West Africa.
“On investors’ protection, I think that should be the least of your worries. Lagos has a comprehensive regulation that protects and shields investors. The scope of the regulation covers disputes resolution and commitment to ease of doing business.”
Earlier, Sanwo-Olu informed the investors about his determination to transform Lagos into a 21st century economy.
He said: “Lagos economy is adjudged to be the fifth largest in Africa and is not yet a 24-hour economy where you can do every transaction round-the-clock. Do you think we have really maximised the potentials of that economy?
“We are saying it is a large and growing economy, and, you are not playing in it yet. This THEME agenda, beyond being the focus areas of our government, it is also indicative of areas of possible collaboration between you and our government.”