Sanwo-Olu pledges tax breaks, other incentives for businesses

R-L: Deputy President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Knut Ulvmoen; LCCI past Presidents: Chief (Mrs.) Nike Akande; Chief John Odeyemi; President, LCCI, Asiwaju (Dr.) Michael Olawale-Cole and Lagos State Governor, Mr. Babajide Sanwo-Olu at the Lagos Chamber of Commerce and Industry (LCCI) Private Sector Interactive Meeting with the Lagos Governor at the LCCI Boardroom, Idowu Taylor Street, Victoria Island, on Tuesday

Lagos State Governor, Mr Babajide Sanwo-Olu, on Tuesday, said that his the state government will continue to roll out incentives for investors, from tax breaks and waivers to streamlined regulatory processes, and a judicial system that is competent, efficient, and guarantees the sanctity of contracts and property rights.

Speaking at the 2024 International Business Conference & Expo by the Lagos Chamber of Commerce and Industry (LCCI), Sanwo-Olu said that as a government, it will continue to create and ensure a business-friendly environment in Lagos State, and continue to keep the doors open to all interested investors and partners.

He implored investors to take advantage of the opportunities and partner with the state to build a prosperous future for Nigeria.

“Lagos, Africa’s economic hub, offers a conducive business environment, a strategic location, vast market and a pool of energetic talent,” Sanwo-Olu said.

“Our administration has implemented and continues to implement policies and initiatives to attract investments, create opportunities, and drive growth.

“One key area of focus for us is infrastructure development: upgrading and expanding our transportation and logistics networks, telecommunications, healthcare, education and digital ecosystem infrastructure.

“We are well aware that the kind of growth that we seek to unleash will not happen without a solid foundation of infrastructure that is able to keep ahead of our rapidly-growing population.

“As one of Africa’s startup capitals, we are especially keen to invest in digital infrastructure to power the innovative ideas of our people. Agriculture and food security are also priorities, in line with a national focus on these areas.”

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