New investors to operate in Lagos

Eniola Ajayi, Lagos

At least 74 new investors are set to operate in Lagos State as they have been given a clean bill of health by the government.

Special Adviser to the Governor on Overseas Affairs and Investment, otherwise known as Lagos Global, Professor Ademola Abass gave this revelation while briefing the media on the achievements of the State Government in almost two years in office.

Professor Abass whose portfolio is to see to the ‘ease of doing business’ on the platform of Lagos Global, said another set of 15 investment proposals had also been approved, while a few other paper-works were needed before final closure of the deals.

The Special Adviser said since the creation of the Lagos Global Office at the inception of the incumbent administration in Lagos State, a total of 293 investment proposals had so far been received.

He further stated that 42 of the proposals were declined while 24 were kept in view.

“Apart from those under KIV (keep in view), work is ongoing on 69 proposals while we already have 69 new proposals, in all, we have been able to encourage investors’ confidence in Lagos as a place to conduct business and live in,” he highlighted.

Elimination of bureaucracies
Professor Abass affirmed that the Office of Overseas Affairs had been able to streamline the time, process and cost associated with investment decision making by eliminating bureaucracies that held sway in the past.

According to him, this has in turn created employment within and boosted the GDP (gross domestic product) of the state.

“This feat has been achieved not only by the office but in collaboration with the other ministries, departments and agencies of the state and federal government,” he said.

Future projection
Professor Abass said that the future projection was to see Lagos as the most desirable investment destination where investors could be guaranteed return on their investment and a prosperous citizenry with expanded economic opportunities.

“We want a prosperous Lagos that we will all be proud of in terms of investment, open for business for the benefit of all,” the Special Adviser added.

Confidence O