Lagos State Governor, Mr Babajide Sanwo-Olu, has restated his administration’s commitment and willingness to sustain momentum in promoting an enduring and mutually beneficial partnership with both local and foreign investors.
Governor Sanwo-Olu expressed this commitment at the US-Nigeria Council for Food Security, Trade and Investment, themed “A New US-Nigeria Partnership for Economic Revival,” held on Thursday at Eko Hotel and Suites, Victoria Island, Lagos.
Sanwo-Olu, who was represented by the Deputy Governor, Dr. Kadri Obafemi Hamzat, emphasized that the state government would continue to offer all the necessary support that would make doing business in the state a rewarding experience, declaring that Lagos State was more open for business than ever before.
This was just as he noted that the prospect for generous return on investment in several sectors, including agriculture and its value chain, multimodal transport system, healthcare service, waste to wealth, among others, was huge.
“Lagos State is, more than ever before, open for business, and we will continue to offer all the necessary support that will make doing business in Lagos a rewarding experience,” Governor Sanwo-Olu assured.
The governor affirmed that the relationship between the United States and Nigeria was not just significant but pivotal, even as he acknowledged the profound impact that a strengthened collaboration could have on both nations and the broader international community.
“As we gather under the theme, ‘A New US-Nigeria Partnership for Economic Revival,’ we acknowledge the profound impact that a strengthened collaboration can have on both our nations and the broader international community,” Sanwo-Olu said.
Speaking further, Governor Sanwo-Olu said the Council for Food Security, Trade and Investment serves as a bridge, connecting the dots between Nigeria and the United States and creating a roadmap for mutually beneficial collaboration.
Besides, he said the event provides a unique platform for fostering dialogue and understanding between high-level representatives from the United States and Nigeria, pointing out that it was this amalgamation of expertise and experience that positions Nigeria to explore the vast potentials that lie in the realms of investment and trade.
“Nigeria, with its vibrant and diverse economy, holds immense promise for our American counterparts; likewise, the United States, with its innovative spirit and robust economic foundation, stands ready to contribute significantly to Nigeria’s economic growth and development.
“Today, we embark on a journey that goes beyond mere economic transactions; it is a shared commitment to creating sustainable and inclusive growth that leaves no one behind.
“As we delve into discussions over the next few days, let us keep in mind the transformative power of collaboration. It is not just about strengthening economic ties; it is about building enduring partnerships that transcend borders, bringing together the best minds and resources from both nations,” the governor stated.
Also speaking, the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, noted that the Apex bank was committed to supporting the actualization of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
According to CBN Governor, “The Renewed Hope Agenda of President Bola Ahmed Tinubu relates to having a trillion dollars economy in another seven years, describing such as a very ambitious one which “shows that the present administration understands the need for partnership and collaboration very well.”
Speaking on the development recorded in Lagos, the CBN Governor said the quality of governance in the state had made it become the fifth largest economy in Africa, adding that the tremendous growth experience was linked to the consistency in policy making and strong leadership.
Former United States Ambassador to Nigeria and Chairman, US-Nigeria Council for Food Security, Trade and Investment, Terence McCulley, also in his own remark, stated that within the six months of President Tinubu, he had made notable reforms through his “Renewed Hope Agenda.”
He listed the areas to include: floating exchange rate, eliminating the fuel subsidy, shaking up the Central Bank and defense leadership, among other reforms.
He said that the different initiatives witnessed since the inception of Tinubu’s administration had increased investor’s interest, adding: “The biggest cause for optimism is Tinubu’s promise to adapt his tech policy from his experience as Lagos State Governor to a national scale.”
The United States Consul-General, Mr. Will Stevens, who also spoke, noted that certain sectors were prioritized in economic relationships and must be considered when engaging the US government.
Stevens cited energy, climate, agriculture, and technology as examples, noting that it was necessary for Nigeria to collaborate with the US for cleaner energy, electrify Nigeria and bring power closer to the people.
The Consul-General assured that American companies can bring more investment into the energy sector, urging Nigeria “to think about the US when you think about energy and energy transition.”
. TheWitness
