Tuesday, January 19, 2021 / 8:02 AM / Ottoabasi Abasiekong for WebTV / Header Image Credit: Browse NG

Mr. Babajide Sanwo-Olu, the governor ofLagos State, said that he believes that the Lagos economic agenda with theacronym T.H.E.M.E provides immense opportunities for private sector capitalfrom global investors interested in strong returns at reasonable risk.

The Governor was the keynote speaker at avirtual investment forum hosted by the Institute of Directors (IoD) for theUnited Kingdom business community in Nigeria.

The Lagos state government's T.H.E.M.Eprogramme is anchored on five pillars;

• Traffic Management and Transportation,
• Health and Environment,
• Education and Technology,
• Making Lagos a 21^st Century Economy
• and Entertainment & Tourism

Speaking on the value that the stategovernment places on public-private partnerships to achieve its goals,  Sanwo-Olusaid, "Lagos State cannot do it alone and is in search of private sectorcapital within a win-win investment framework to aid the rapid development ofthe state".

He identified the following as areas ofmutually beneficial partnerships;

• Build Operate and transfer
• Build Own and Operate
• Joint Ventures
• Joint development
• Design-build and operate
• Operation and Management Agreements
• Grants
• Buy Build and Operate
• All other forms of PPP

According to the state governor,there are a variety of investment opportunities in Lagos state worth overUS$2bn in the areas of Education, Shoreline Protection of Lagos LagoonCoastline, Rebuild Lagos initiative  (Sequel to the #EndSARS protests),Health, Environment, and Transportation infrastructure.

In education, Governor Sanwo-Olu said over$50m of opportunities exist in supporting the construction and rehabilitationof school buildings, leveraging technology to improve secondary schoollearning, and Eko Excel project for primary schools.

Considering the coastal location of Lagos,he informed investors that the state has a  shoreline protection strategythat would require over $80m for partnership and investments.

This would cover a few projects includingthe following;

• The construction of groynes at 400m intervals for 5km at Ibeju-Lekki shoreline.
• Shoreline protection works to resolve erosion ladened section on Ibeju-Lekki strip and
• Rehabilitation of damaged sections of Shoreline protection from Leventis Elegbata to Federal Palace Hotel.

With the 2020 #ENDSARS protest whichdestroyed private and public properties, the state plans to rebuild through the "Rebuild Lagos" programme involving US$182m to provide the following;

• Replacement of buses, equipment, and transport infrastructure
• The rebuilding of properties destroyed
• Youth engagement, rehabilitation, and reorientation
• Support to MSMEs using LSETF

The impact of the COVID-19 pandemicoutbreak in 2020 with Lagos as the epicenter, according to the Governor,reinforced the need to upgrade healthcare infrastructure in the state.

This sector now presents a massiveopportunity for investments to the tune of US$375m which would be deployed forsome of the following projects;

• Renovation/Construction of 220 Primary Health Centers and 27 General Hospitals
• Support the State Health Insurance Scheme
• Quality Health Programs
• Completion of Yaba Infectious Disease Research Center

The Governor assuredinvestors that Lagos state was committed to creating an enabling environmentfor businesses, reinforced by the recent automation of business registration,permits, and approvals.

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