Lagos Attracts $43bn Investments In 3 Years

Lagos State Government said its investment drive has brought the state well over $43billion worth of investment proposals in the three years of Governor Akinwunmi Ambode’s administration.

The Special Adviser, Office of Overseas Affairs and Investment (Lagos Global), Professor Ademola Abass, who made this known in Lagos on Thursday during the agency’s press briefing to mark Ambode’s third year in office, said since its creation, investors’ confidence has been inspired to believe in Lagos as a place to conduct business and live in.

In its third year of existence, the office of Lagos Global had succeeded in bringing to close some salient investments while it commenced and continued the process of creating new ones, he noted.

According to him, investors have shown considerable interest in tapping into the investment opportunities in Lagos because of the government’s vigorous pursuit of measures geared towards enhancing the ease of doing business.

Abass said, “Lagos State as an emerging market is becoming the financial hub and a preferred investment destination in Africa. The advocacy to arouse investor’s confidence and interest has translated to considerable success that we now experience by all the infrastructural renewal and development that are evident for all to testify.

“In furtherance of its desire to continue to strategically position the state as a leader in investment promotion in Nigeria, Lagos Global continues to prospect for and pioneer methods for advancing the overall vision of the state to be the preferred investment destination globally. This is achieved by projecting and effectively communicating the investment opportunities that abound in the state to the world.

“Lagos Global continues to communicate what the state has got to offer investors worldwide, as well as laying out the benefits that await investors who choose Lagos state as their destination,” Abbas said.
He further said Lagos Global helps existing investors, providing aftercare services by ensuring the provision of necessary business support services.

“The Office assisted some businesses to establish partnerships with Lagos state government and to resolve issues relating to taxes, environmental issues, local government and land ownership rights, tax reduction, multiple taxation, land issues, infrastructure and partnerships,” he said.