The governor of Lagos State, Babajide Sanwo-Olu, has said that the state will take new steps to draw in foreign investment.
According to The Punch, he made this statement recently at the Lagos Chamber of Commerce and Industry-hosted Lagos International Trade Fair.
“While some view the youth population as a management challenge, I see great potential waiting to be unlocked in our beloved state and the entire country to attract potential investors, I think it’s time to change how things are done in the State and the nation as a whole.”
He said there was a chance the expo would spur and draw FDI into the country and ease the burden on the local currency.
The Lagos Governor claimed that the trade show’s platform is revolutionary, strategic, and relevant since it would help Nigeria’s investment ecosystems grow and enable more attractive investment opportunities.
“The need to leverage this 10-day event to drive more investment also becomes more apparent, when we consider the good percentage (of over 70 per cent) of Nigeria’s population under the age of 30, in addition to other variables that are critical to encouraging investors and growing the economy,” he said.
The title of this year’s trade show, “Navigating Economic Challenges: Forging a Path to Prosperity,” according to President of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole, mirrored the harsh economic realities the nation was experiencing.
He continued by saying that the Lagos International Trade Fair gave investors a forum to network, share knowledge, and look into potential areas of collaboration.
“Known as the ‘Giant of Africa,’ Nigeria has been a ray of hope and opportunity for many years on the continent. It has the biggest consumer market in Africa, home to more than 200 million people.
“However, we can’t choose to ignore the current problems with the home economy. Our development has been hampered by a number of issues, including persistent reliance on oil revenue, high inflation, and volatile exchange rates,” the speaker stated.
