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Posted on March 31st, 2016

March 31, 2016

In its bid to enhance the ease of doing business in Lagos, the Lagos State Government has made a formal presentation of the Office of Overseas Affairs and Investment, otherwise known as Lagos Global, to members of the public.

The event which took place today at Eko Hotel and Suites drew participants from the business world, diplomatic community and top government functionaries.

Governor Ambode who was represented by the Secretary to the State Government, Mr. Tunji Bello, stressed the commitment of his administration towards making Lagos State an investment destination of choice by creating a favourable environment for local and Foreign Direct Investment.

In his words: “as the world continues to acknowledge Lagos as a regional financial hub, we as government have demonstrated the commitment to strengthen this position through deliberate policies aimed at improving the business climate in our state.

“In this regard, we have successfully placed Lagos on investors’ radar by putting in place effective legal and regulatory frameworks such as the Land Reform Act, Double Taxation treaties, Limited Liability Reviews and the development of Free Trade Zones. Likewise, the on-going judicial reform is aimed at strengthening our laws for the protection of enterprise.”

Governor Ambode also emphasised that his administration’s strides in public infrastructure development coupled with investment in security as well as the competitive edge enjoyed by Lagos State, informed by its access to local, regional and international markets, readily available labour, bourgeoning middle class with high purchasing power and investor-friendly disposition among the citizenry, had combined to ensure that the state remained investors haven.

He urged investors to take advantage of investment opportunities in the state as government had prioritised the achievement of the four pillars of the Lagos State Development Plan (2012-2015) through the attraction of investments in eight major sectors which are Power, Agriculture, Transportation, Health, Tourism, Housing, ICT and Manufacturing.

“With the array of prospects in different sectors, we are confident that you will take advantage of these opportunities by taking the decision to make the next investment here”, he said.

Earlier, the Special Adviser on Overseas Affairs and Investment, Prof. Ademola Abass stated in his welcome address that Lagos Global was created to serve as a one-stop shop for investors and to also serve in enhancing the ease of doing business in the state through the initiation, formulation and evaluation of policies relating to the promotion of both local and foreign investments in the state.

“The Office of Overseas Affairs and Investment will also liaise with Embassies, Chambers of Commerce, Ministries and Agencies on Foreign Relations and Promote State export potentials, as well as facilitate Foreign Direct Investment and inter-ECOWAS/African Union Commerce and Trade,” he said.

Prof. Abass said that the office was composed of four major department which are: Global Outreach and partnerships, Inter-Ministerial Coordination, Investment Management and Risk Analysis, and Business Strategy and Marketing, while urging members of the business world and other government agencies to relate with the new Office with utmost confidence.

Mukaila Sanusi

Head, Public Affairs

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