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| File photo. Governor Babajide
Sanwo-Olu has said that 9,000 megawatts is the amount of energy required
to transform Lagos State economy. If realised, he assured, Lagos, the most
populous city-state, and the fifth largest economy in Africa, would be
self-sufficient in electricity supply that would adequately power its
industrial sector, Small and Medium Enterprises (SMEs) and residential
buildings. The Lagos State
Governorrevealed this when he addressed a Forum at the Corporate Council on
Africa, a side event at the ongoing 74th Session of the United Nations
General Assembly(UNGA) in New York, United States. Governor Sanwo-Olu
wooed investors at the forum, assuring them that his administration would be
open to tapping private investment in clean energy to enable Lagos attain its
aspiration of transforming to 21st century economy driven by technology and
innovation. Adequate electricity
supply, the Governor asserted, would also help the State to fully unlock the
potential of its tourism sector and waterway transportation. The Governor said his
government had been reviewing the State’s Public Private Partnership (PPP)
policy, with the objectives to boost investors’ confidence on returns on their
investment and to drive more investments in critical areas to the State’s
economy. He said: “Lagos is a
peculiar city among megacities in the world. It is the smallest State in
Nigeria in terms of land size, yet it is the most populous in terms of
demography. One third of Lagos land is covered by water, while the large
population of humans is left to occupy about 4,000 square metres of dry land
size. “Lagos, as the fifth
largest economy in Africa, it accounts for the 60 per cent of Nigeria’s GDP, in
which manufacturing sector accounts for about 30 per cent. Despite this
potential, we have energy deficiency of about 9,000 megawatts, which is
required to give the economy the needed support for more growth. We are open to
investment in independent power generation to address energy deficit, which
would help to fully unlock opportunities in tourism sector, infrastructure and
technology business.” READ
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SANWO-OLU The Governor used the
occasion to present his administration’s six pillars of development, known
as Project T.H.E.M.E.S, before the international audience to maximise
investment drive and opportunities in each area of the manifesto. Sanwo-Olu spoke about
how technology and innovation had been changing the face of land transportation
in Lagos, especially with the introduction of flexible services in commercial
motorcycle operations and cab business to support rapid movement of people. The
Governor said the State Government would be introducing policies to guide the
innovation in its transport sector, with the aim to ensure safety of the users
and protect investment of the investors. He said: “We are
bringing a solution that will give residents a new experience in integrated
mass transit system. We are scaling up infrastructure on the BRT corridors on
our roads, finishing the light-rail project and strengthening the capacity of
waterways transportation to boost services in these areas. We are coming up
with a solution that would allow residents to use single ticket to access the
services of these three methods of transportation.” He also said his
government would be expanding the services of the Lagos State Health Insurance
Scheme to increase affordability of quality healthcare for the most vulnerable
among residents of the State. To achieve this, Sanwo-Olu said the State would
be seeking private investment in the provision of funds that would enable the
public-owned Health Maintenance Organisation (HMO) to efficiently manage the
scheme. Speaking on
environmental programmes of his administration, Sanwo-Olu said Lagos had keyed
into the United Nation's agenda of reducing the carbon footprint from the
environment. He said the introduction of Blue Box Programme by his government
was aimed at addressing observed challenges in municipal waste management, as
well as building the foundation for a retail business in recycling and waste
sorting. He said the initiative
would enable the State to not only create jobs, but also wealth from recyclable
waste materials. Among the audience at
the forum included Governor Godwin Obaseki of Edo State, President of the
Corporate Council on Africa, Florizelle Liser, Founder and Chairman of Zenith
Bank of Nigeria, Mr. Jim Ovia, as well as Chairman of of Flour Mills of
Nigeria, Mr. John Coumantaros. Thank you for reading. Got comments? Kindly post them with your name on the Comment box below. |
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