Lagos Attracts $8.32bn Investments In 2 Years

May 27, 2021
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Lagos State government has revealed that it has attracted $8.32bn investment in the last two years, saying the state has the ability to bring in, retain and leverage on inclusive and sustainable economic growth.

The special adviser to the governor on Sustainable Development Goals and Investment, Mrs. Solape Hammond, stated this at the ongoing ministerial press briefing organised to commemorate the second year anniversary of Governor Babajide Sanwo-Olu.

Hammond explained that the economic policy of the administration is designed to improve the business climate of Lagos and promote socio-economic prosperity.

She said the state government through the Office of Sustainable Development Goals and Investment in the last two years had participated in several global campaigns to attract investments and partnerships for the execution of the SDGs-related projects.

According to Hammond, the office has established a good relationship with embassies, high commissions and development agencies of several nations including the UK, Netherlands, France, China, Canada and Japan, adding that while the government is currently engaging several local and international organizations for various investment possibilities in the state, her office has supported more than 12 private sector investors interested in investing in Lagos.

Apart from exploring foreign collaborations to make Lagos a premier of investment in Africa, the special adviser pointed out that the office had established a good relationship with Nigeria Investment Promotion Commission (NIPC) with the appointment of a Lagos Liaison Officer.

She also confirmed that the office is set to establish “a one-stop shop” secretariat to improve the ease of doing business for potential and existing investors who are desirous of setting up businesses in the state, adding that the creation will facilitate the process of granting approval for lands, buildings, taxes, from all MDAs that are involved in business start-up.

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