To say that the current global downturn of the economy occasioned by gradual fall in oil prices have pushed many countries of the world to look for ways to salvage their countries from being battered by the ugly effect, is an understatement. While some countries have either concluded arrangements to diversify and beam their searchlight to other lucrative ventures including Agriculture and tourism or devised means of increasing their internally generated revenue, IGR, some have resorted to making their states investors-friendly. A typical example that readily comes to mind is the one being employed by the governor of Lagos State, Mr. Akinwunmi Ambode since his assumption of office about 62 days ago.
It is cheering to note that governor Ambode has maintained that his administration is ready to make rapid infrastructure renewal and upgrade a cardinal policy, through enthronement of a strategic policy thrust, the Public-Private Partnership, PPP, incorporated as a way of accelerating infrastructure delivery. There is no argument that good infrastructure is a sine-qua non for investment and economic growth. What the governor tries to do with institutional changes effected, so far, in the state especially adding Co-operative to the Ministry of Commerce and establishment of Ministry of Wealth Creation is to fast-track businesses and investments in the state. Thus, one can rightly say that Ambode has come in full force with key goals anchors on two principal pillars of making life simpler and happier for the people. He has started engineering the new era of progress through reaching out to and fine tuning investment opportunities in the centre of excellence. Just as the governor who has always been part of economic development plan of the state is strategizing to accelerate growth of local businesses, he is at the same time reaching out for foreign investment.
Though foreign investment everywhere in the world is greeted with both faith and skepticism, in our modern global world no country including China, France, Japan, America and Britain is an island on its own. Direct foreign investment is an integral part of an open and effective international economic system and a major catalyst to development. Judging from his interactions with the envoys from developed countries that have either visited or had opportunities of sharing thoughts with him, the governor has demonstrated that he is firmly on ground on his vision of making Lagos State investor-friendly and attractive. Ambode’s eventful 27 years professional experiences came to the fore while hosting a delegation from Wal-Mart of United States of America. How he struck a chord of understanding was amazing.
Imbued with timeless utilitarian values of the necessity of government pursuing the greatest happiness of the greatest number of the people, he assured the delegation of the state plans to make life better and happier for his people. In a convincing tone, he assured them of availability of manpower, citizens willing and capable to work as well as expanding middle class ready to buy products and services of international standard in the state.
The governor applauded the decision of Wal-Mart and assured them of his government’s plan to support the company in its expansion plans within the state, adding that it shows the confidence they have in the state. This decision by Wal-Mart to centre its Nigerian expansion plans on Lagos shows the confidence they have in our state. We have the manpower, the citizens willing and able to work, and an expanding middle class ready to buy products and services of international standard”. “I was elected to boost employment and opportunity in Lagos, and this cooperation with Wal-Mart Inc is an important step towards fulfilling that pledge”, Ambode enthused.
Wal-Mart Inc. President and CEO, Middle East, Africa & Canada, Shelley Broader, had emphasized that the company, among other things has made it a priority to key into the visions of the present administration, especially having listened and observed electioneering pledges of the governor, which among others, centered on tackling high unemployment, particularly amongst young people and developing longterm job opportunities and careers for thousands.
Also, while receiving envoys from the United States of America, Britain and Australia, who were on courtesy visits to his office in Lagos, the governor also reiterated that his administration is poised at strengthening trade relations with their countries. He affirmed that paramount on his administration’s agenda, is to strengthen existing trade relations with countries willing to do business in the state as well as attract new investors. To this end, he said an Office of the Overseas Affairs and Investment has been established, whose primary assignment will be to relate with foreign investors and attract new businesses into the state.
“I want you to also recognize the fact that we are building a safer Lagos, we want to do everything as much as possible to make Lagos a more comfortable place for everyone to live in, that’s the only way we can attract investments into Lagos” he said. He said his administration is poised to strengthen economic ties with their countries, urging them to feel free to offer any useful suggestions that would make investors willing to set up their investment in the state. He listed energy, power and energy as well as oil and gas sectors as possible strong areas where such bi-lateral relations could be strengthened, assuring that the state is safe, conducive and investor-friendly to accommodate more investors in the state.
“All these put together, the main objective for us is to be able to build on the economy of Lagos and increase the GDP of Lagos as a state, create more jobs for our people and we would be able to make life more comfortable for them”