By YUSUF ABUBAKAR Since the return of democracy in 1999 after decades of military…

May 4, 2021

EHINGBETI: Possible impacts herald the cosmopolitan state of Lagos, Nigeria

Posted by News Express | 4 May 2021 | 62 times

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Since the return of democracy in 1999 after decades of military rule, successful administrations in Lagos State have worked hard to advance all facets of human, material and infrastructural development of the mini Nigeria.

The current administration of Governor Babajide Sanwo-Olu has toed a very unique path few months away to his second year of his first term in office, with a lot of achievements.

This is coming just few months away from the total lockdown of the country with Lagos State not in exception, as a result of the COVID-19 pandemic, and the crises of #EndSARS that was later hijacked by hoodlums.

The economic forum also came few weeks after the decision of the United Kingdom that granted a direct access to doing business with Lagos State without recourse to clearance from federal authorities, as it is obtainable with other states of the federation. It equally came on the heels of the decision of the Sanwo-Olu administration to initiate many developmental programmes along with the existing and ongoing projects, with plans to commence the 4th Mainland Bridge in the shortest possible time. Instructively, the 2021 EHINGBETI world economic summit attracted both local and foreign business interests, including conglomerates.

The two days economic summit (February 16-18) was geared towards advancing the economic strategies by various stakeholders, with a view to moving forward the economic indices and realities amidst the recession and coincidentally exit from the recession and other global challenges, including the threat of second wave of COVID-19 with high vulnerability rates.

The spirited conversations birthed proactive decisions that will guarantee the operationalisation of social, economic, and infrastructural advancement of Lagos State, amidst attention to other variables that will lead to economic stability.

With the attainment of its current status and recognition from our colonial masters that gave access to direct ease of doing business, the burden of the cosmopolitan Lagos State and its operators under Governor Sanwo-Olu became demanding in view of its roles as a leading light state that other federating states of Nigeria are looking up to.

The economic summit may have come and gone but glaringly it had heralded giant economic opportunities to Lagos State and Nigeria, while serving as a launching pad of further advancement of other business interests by both organised private and public sectors of the economy.

The laudable initiatives by the current administration will also address not only the economic problems of Lagos State, but, by extension, other sectors of the economy linked to social stability and security.

Coming at this auspicious period of direct access to ease of doing business with the United Kingdom, it will mobilise the international communities not only to key into expanding further the status of Lagos as the economic and commercial capital of Nigeria only, but will make the entire country the staple of world economies, with Lagos State as springboard to the economic emancipation of Nigeria.

This positive development when further exploited by its workability, will not only improve the revenue base of Lagos State, but also hopefully stabilise the Nigerian economy.

It will further enhance all the economic activities that Lagos State was known for, aftermath of the effects of the two days economic summit.

This initiative by Governor Sanwo-Olu is quite commendable, coming at a time the world economies now leave on borrowings and advances rather than robust reform as witnessed in the last few years in Lagos State.

It will also re-orient other federating states of Nigeria to key into the global idea of carrying out a well-thought economic programme, using Lagos State as a role model to economic independent of States.

This foresight of the current administration in Lagos State, will on the long run transform in its entirety, the lives of ordinary Nigerians with better standard of living.

It is high time for other states of the federation to start thinking out of the box by toeing the same template and pacesetter of Lagos State.

•Yusuf Abubakar writes from Abuja.

Source: News Express

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