Lagos State Government said it has attracted N8.32 billion worth of investments inflow into the state within the two years despite challenges of COVID-19 pandemic.
Special Adviser Office of Sustainable Development Goals and Investment, SDGI, Mrs. Solape Hammond, disclosed this on Tuesday, at the 2021 ministerial press briefing to showcase achievements of the office as well as part of events to commemorate the second year anniversary of Governor Babajide Sanwo-Olu-led administration, held in Alausa, Ikeja.
Hammond said with the Investments in the kitty, the state has the ability to bring in, retain and leverage on inclusive and sustainable economic growth.
She stressed that the economy policy of the present administration is designed to improve the business climate of Lagos and promote socio-economic prosperity.
Hammond explained that the state government through the office of SDGI, in the last two years of this administration has participated at several global campaign to attract investments and partnerships for the execution of the SDGs-related projects.
“Accordingly, the Office has established a good relationship with embassies, high commissions and development agencies of several nations including the United Kingdom, UK, Netherlands, France, China, Canada and Japan,” she stated.
She confirmed that while the government was currently engaging several local and international organizations for various investment possibilities in the state, her office, supported more than 12 private sector investors interested in investing in Lagos.
Hammond also revealed that the Office had facilitated interventions on several investments with Ministries, Departments, Agencies, MDAs (Transport, Waterfront Infrastructure Development, Wealth Creation, Energy and Environment), adding that the office is set to launch an investment Deal Book that details investment prospects across major sectors in the state.
“Other strategies and efforts undertaken to promote sustainable investment in Lagos include the strategic partnerships with development agencies including the International Finance Corporation (IFC), Africa Development Bank (AfDB), World Bank and the French Development Agency (AFD),” Hammond stated.
She added that while discussions on sister city relationship with United Arab Emirates is currently ongoing, revealed that the Office has facilitated agreement of the Sustainable Cities program with UK DFID as one of 15 cities in the global program on urban regeneration and water transportation.
Besides exploring foreign collaborations to make Lagos a premier of investment in Africa, the Special Adviser stressed that the Office has established good relationship with Nigeria Investment Promotion Commission (NIPC) with the appointment of a Lagos Liaison Officer.
Hammond, also confirmed that the office was set to establish “A one Stop Shop” Secretariat to improve the ease of doing business for potential and existing investors who are desirous of setting up businesses in the state, adding that the creation will facilitate the process of granting approval for lands, buildings, taxes, from all MDAs that are involved in business start-up.
Speaking on engagement designed to amplify the delivery of sustainable development goals, she said, the Office launched the maiden SDGs Week in conjunction with some Organised Private sectors where free food items were distributed to vulnerable citizens, instructional materials to Primary School Pupils and medical equipment to nursing mothers across the State.
On efforts established to strengthen resilience, livelihood opportunities and short-term employment for Lagos residents, Hammond revealed that the Office launched and implemented the Conditional Cash Transfer Project in vulnerable communities by the United Nations Development Programme (UNDP) in conjunction with the Lagos State Government.
According to her, over 2,103 Micro, Small and Medium-Scale Enterprises (MSMEs) owners received Unconditional Cash Transfer while 951 beneficiaries of ‘Cash for Work’, were paid to carry out environmental sanitation and hygiene for three months.
“The Office coordinated the launch of the Lagos Care Initiative, a socio-economic intervention programme for vulnerable residents designed to impact about 20,000 people, 69 markets and 2,512 MSMEs. Also, at the inauguration of the Lagos State Human Capital Development (HCD) Core Working Group, the Office was made the Secretariat of the Group which aim is to develop strategy and action plan to increase state-wide HCD investment’’, Hammond declared.
According to her, “We have also commenced evaluation study on impact and outcome from SDGs project in all MDAs with a view to monitoring progress achieved in line with SDGs’ targets and indicators and the reclassification of the Agenda with the Lagos State Development Plan (LSDP) Pillars and SDGs’ Targets.”
