Foreign investments

Governor Sanwo-Olu seeks foreign investment in New York

Babajide Sanwo-Olu, Governor of Lagos State

Adebayo Obajemu

Governor Sanwo-Olu spoke with a group of potential investors in New York on Monday on the sidelines of the 77th session of the United Nations General Assembly to urge them to invest in Lagos State.

The Governor spoke of the major progress Lagos has made over the past three years, despite COVID-19. He used the THEMES Agenda – his administration’s six-pillar development plan – as a guide.

According to the governor, the gross domestic product (GDP) of the state has increased by $5 billion to about $145.141 billion, the budget has doubled to about N1.7 trillion, and infrastructure development has increased. been great.

He cited landmark developments in transportation, the first pillar of THEMES, saying the Red Line and Blue Line rail projects were on track to be commissioned by the end of the year.

The rolling stock for the Red Line, which his administration has started, he said, is on its way to Lagos and work is continuing as planned at stations and overpasses that will ensure a good transport experience. There are about four more lines to be built for the state to cover by rail to ease the pressure on the roads.

The Governor was blunt about the purpose of the meeting – to attract more investors to Lagos, which accounts for 80% of foreign direct investment entering Nigeria.