Lagos State Government said it has attracted over $13 trillion worth partnership deals through strategic global alliances for various sustainable infrastructural investments across strata of the economy in the state within six years.
The state government said it also secured over $4 million in Business Enabling Reforms, SABER, disbursements during the initial assessment year, 2024, validating its leadership role nationally.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, who disclosed these on Tuesday, during the ongoing ministerial press briefing to mark the second year in office of the second term of Governor, Mr. Babajide Sanwo-Olu, at Alausa, Ikeja, stressed that Lagos has continue to deepen reforms, with a cumulative $30 million in disbursements expected by 2025.
The state government had recently held a roundtable investment forum as part of measures to boost the state’s economy.
According to Ambrose-Medebem, “As a result of the Lagos Investment Roundtable, numerous Expressions of Interest from local and foreign investors are under active discussion. One of the major outcomes is the partnership with Abu Dhabi.
“The Lagos State Government, through the Ministry, successfully concluded a $200 million partnership with Abu Dhabi Ports aimed at developing critical infrastructure and logistics within the Lekki corridor, boosting ICT innovation, healthcare facilities, and port operations.”
She added that the state deepened engagement with the United States and European Union trade missions and hosted delegations from G7 countries.”
“These engagements have already yielded agreements. Lagos State is collaborating with Swedish firms to deepen 5G broadband penetration.”
On improved business climate and investor confidence, Ambrose-Medebem, said, “Multiple credit rating agencies have noted improvements in Lagos’s business environment, and foreign direct investment (FDI) interest in Lagos surged.
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