Lagos State Governor, Mr Babajide Olusola Sanwo-Olu, has said that infrastructure development is key to maximizing any state’s economic potential and growth.
The governor made this assertion on Wednesday through the Deputy Governor, Dr Kadri Obafemi Hamzat, who, on his behalf received the Director-General of the Securities and Exchange Commission (SEC) on a courtesy visit in his Office, at the Round House, Alausa Ikeja, Lagos.
Governor Sanwo-Olu noted that the state had kept thinking about investing massively in its infrastructure for economic potential, considering infrastructure essential to African countries’ development.
“There is a need to educate Africans on the need to raise funds for investment that will better the lives of its citizens,” Sanwo-Olu declared.
“Infrastructure is the only way to maximize the economic potential of the country, which is why Lagos has prioritised building its infrastructure for the betterment of its citizens.
“That is why I think that we have a huge responsibility to fund capital investment in the country by encouraging state actors not to be scared from taking constructive debt to leapfrog opportunities that will grow the economy,” the governor stated.
He said the state government would not have been able to provide some infrastructural facilities in the state today if it had not been able to access loans needed to put such facilities in place.
Director-General, Security and Exchange Commission in Nigeria, Mr. Lamido Uguda, earlier in his remark, stated that his visit to Lagos was to inform the government of the plan to host the West-Africa Market Conference in the state which the West-Africa Security Regulator Association had organized.
He said the conference themed: “Infrastructure Deficit and Sustainable Financing in an Integrated West Africa Capital Market” would bring experts across the sub-region to deliberate on the need to tackle the infrastructure deficit for the economic growth of the sub-region.
Uguda explained that the commission decided to bring the conference to Lagos to highlight the need for infrastructure development in the sub-region and showcase what the state government had been able to do in this regard as the commercial nerve centre of the nation, which they believe other states within the federation and the sub-region can emulate.
The SEC boss further expressed the readiness of the commission to collaborate with the state government in curbing illicit business by some unscrupulous people who dupe people of their hard-earned money.
. TheWitness
