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Lagos assures investors of competitive returns


Lagos State Governor Akinwunmi Ambode

The Lagos State government has assured partners under the Public-Private Partnership programme of innovative policies, business-friendly environment and infrastructures that will further guarantee Return On Investment.

The state’s Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye, who made the disclosure, also assured of government’s readiness to grow a private sector-driven economy.

Speaking at a meeting with members of Franco-Nigerian Chamber of Commerce and Industry (FNCCI) in Lagos recently, she noted that government has set up a positive business environment where investors can be assured of prosperity and investment security.

According to her, the Electricity Reform Bill recently signed into law by the Governor to give legal backing to the Embedded Power Initiative for generation of 1,000 megawatts of electricity in 2018 and 3,000 megawatts by 2022 are all borne out of government’s intention to grow a private sector-driven economy.

“More than ever before, we are renewing our call for the development of a private-sector driven economy with positive business environment through innovative policies and infrastructure.

“With our charter, you can only be assured of a win-win situation all through, especially as it relates to the security and prosperity of your investments and business interests,” she said.

While attesting to the 2018 World Bank Doing Business report, which revealed that Lagos is responsible for 77% of all the impact of ease of doing business indicators at the sub-national levels, Oladunjoye said government will continue to do more to ensure that Nigeria takes its place as the prime destination of foreign direct investments in Africa.

She urged federal government to address the challenges in power, multiple tax structure and bureaucratic delays in policy implementation with regards for businesses, ethno-religious crisis, kidnapping and corruption, these according to her are posing hindrances for business growth.

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