WE ARE LEVERAGING INFRASTRUCTURE TO BOOST ECONOMY – SANWO-OLU

… Commends LCCI As Unrelenting Partner

Lagos State Governor, Mr. Babajide Sanwo-Olu has assured the business community that the State will continue to leverage infrastructure development to drive economic growth in the State, adding that the State Government would continue to be their partner in progress towards ensuring a conducive business environment for investments to thrive in the State.

Sanwo-Olu gave the assurance at the opening ceremony of the Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI) held at the Banquet Hall, Tafawa Balewa Square, Lagos, today.

Represented by the Commissioner for Commerce, Cooperatives, Trade & Investment, Mr. Governor affirmed that the administration is very much aware that its quest to move Lagos from Nigeria’s biggest commercial city to a mega or smart city, running on 21st-century economic dynamics, will depend, to a large extent, on its political will to effectively tackle various challenges confronting businesses, especially in the area of infrastructure.

His words, “For us, we see the challenges as great opportunities for further investment and our administration is not only working assiduously to change the narratives, we are also ready to work with willing investors to expand the infrastructure for the benefit of our businesses in particular and our State and nation in general.

“Directly, we are committing huge resources to build infrastructure that improves business operations and makes the State attractive for investment. Among what we have done in recent times is the completion of the first phase 13-kilometer Lagos Rail Mass Transit – Blue Line, extending from Mile 2 to Marina. This has been commissioned to ease the movement of commuters and goods, eliminate the stress associated with public transportation and reduce traffic gridlock along with productive man-hour loss in traffic. Since the tracks were energised, daily trips of the rail have increased from 12 to 54, while we are working towards our actual target of 74 trips per day”.

Speaking further, the Governor stressed that his administration is ramping up efforts to ensure timely completion of the 37-kilometre Red Rail Line extending from Agbado to Ebute Metta, with 13 stations and ultra-modern infrastructure, which has reached the 97 percent completed stage.

“At Lekki Free Trade Zone, our administration’s partnership with the private sector is already yielding great dividends as multi-billion dollar businesses have been set up there. This is in addition to other investments we have made and are still making such as the 10,000 metric tonnes rice mill at Imota, various completed and ongoing road construction projects, completion of the first phase of the 6,000 Fibre Optic Cable Network that would expand broadband access and drop internet connectivity at homes and business spaces in the State, different supports to MSMEs and many other interventions”, he said.

Governor Sanwo-Olu commended the Board and Management of LCCI led by the President for sustaining the organisation of the Fair for businesses to showcase their products and services, gain great marketing mileage and have fresh opportunities for networking with other businesses.

“The platform is timely, very strategic, and transformative as it will further build the investment ecosystems to support more competitive investment opportunities in Nigeria. I also appreciate you for sustaining regular engagement with our government. The Chamber, through its policy advocacy activities, has been an unrelenting partner in the business of ensuring good policy direction for the economic prosperity of not only Lagos State but Nigeria at large. I am also glad that this has been yielding positive results”, Sanwo-Olu revealed.

President of LCCI, Asiwaju (Dr.) Michael Olawale Cole averred that the Lagos International Trade Fair is another testament to the entrepreneurial spirit that so well adds definition to our countrymen and women and provides a stage for us to come together, learn from one another, and explore avenues for cooperation in a bustling economic centre of Lagos.

His words, “Lagos, Nigeria’s economic powerhouse, is uniquely positioned to lead the change toward economic revitalization. As the largest city on the continent and home to over 20 million people, Lagos has consistently proven itself as a hub of commerce, innovation, and culture. Its deep-water ports, strategic location, and diverse workforce make it an ideal gateway for international trade. The Lagos State Government’s commitment to improving infrastructure, ease of doing business, and innovation has steadily impacted its attractiveness to both local and foreign investments”.

While noting that we stand on the threshold of change, as Nigeria and Lagos State work tirelessly to diversify their economies, reduce dependency on oil, and pave the way for inclusive growth, the President remarked that the Lagos International Trade Fair is emblematic of this vision, serving as a platform for businesses, entrepreneurs, and investors from all corners of the globe to converge, connect, and create opportunities that drive sustainable development.