Economy | State and Local Govts

8th Ehingbetti Summit: Lagos as An Accelerator; A Smart City's Destiny

Feb 16, 2021   •   by   •   Source: Proshare   •   eye-icon 1655 views

Tuesday,February 16, 2021 / 8:51PM / Ottoabasi Abasiekong for WebTV / Header ImageCredit: Twitter; @LagosMepb

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Lagos state is central to Nigeria's economic fortunes and development.These were amongst the opinions expressed by President Muhammadu Buhari, GCFRwhile delivering remarks at the opening session of the 8th editionof the Lagos Ehingbetti Summit.


According to the President, the Federal Government has made it apriority to support Lagos in unleashing its socio-economic potentials, whichwould help to accelerate economic growth in the country.


President Buhari also noted that the Federal Government through thePresidential Infrastructure Development Fund (PIDF) has embarked on severalprojects that would have a positive impact on the Lagos economy.


According to him, these projects include the rehabilitation of theLagos-Ibadan expressway and the upgrading of the Apapa-Oworoshoki expressway.


President Buhari also said the Lagos-Ibadan standard gauge rail wouldconnect the Apapa ports complex to Ibadan thereby helping in the decongestionof the Lagos ports and the freeing up of Lagos roads around the ports area.


He also added that the Federal Government recently handed over theNational Arts Theatre to the Bankers' Committee, as part of efforts gearedtowards developing a world-class creative industry hub, hence unlocking theopportunities in the arts and entertainment sector of the Lagos economy.


The President commended the administration of Lagos state for its focuson infrastructure, ease of doing business, and improving the quality of life ofits citizens.


He urged the Lagos state government led by Mr. Babajide Sanwoolu toensure that its economic prosperity leaves no one behind.


In a conversation with Governor Sanwoolu, the DG-Elect of theWorld Trade Organization Dr. Ngozi Okonjo Iweala emphasized the need for LagosState to give priority to the following key areas;

  • Providing decent Jobs for a teeming youth population, leveraging on the country's peculiar demographics
  • Strengthening the Digital Economy through the provision of broadband infrastructure to boost connectivity, which would enable e-commerce businesses gain an additional leg up
  • Improving Infrastructure (Hard and Soft) from power and transportation to other forward-looking components.


She tasked the Lagos state government with championing the cause ofdeepening women and youth inclusion in governance.


Sudanese born-billionaire and accomplished African business leader MoIbrahim in his goodwill message believed Lagos has the scale to unlock economicopportunities and achieve a vibrant market that could move Nigeria and Africaforward.


He identified transportation, waste management, health, education,security, rule of law and bureaucracy as areas Lagos must tackle firmly tobecome a globally competitive city.

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In his speech at the event, Governor Sanwoolu said the strategy of thestate post-pandemic was to " Build Back Better and Bolder", with a rededicationto its T.H.E.M.E.S economic agenda.


He assured stakeholders that Lagos remains committed to improving itsinfrastructure, economy, and security to take advantage of the AfricaContinental Free Trade Agreement (AfCFTA).


Looking at the future, the governor set a few target that citizensshould expect by 2030:

  • A MegaCity with an integrated transportation network (Roads, Rail, and Waterways) that will reduce travel time by 200%.
  • A Smart city that will leverage a robust broadband infrastructure to unleash a technology revolution. This would involve smart city cameras to ensure efficient traffic management and security
  • Agric Processing through the county's largest rice mill in Imota, Lagos.
  • Strengthening the Lekki Free Trade Zone as a driver for additional PPP activities including faster-paced industrialization with Dangote's oil and fertilizer refinery sitting at the heart of the export free zone, the Lekki Deep Sea Port, and other major industries that would spring up from the new economic hub.
  • Enhancing tourism and supporting the growth of a dynamic creative industry.
  • Developing strategic medical parks with projects like the largest Children's hospital and infectious disease centre amongst other medical and healthcare developments.

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Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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