New Scramble for Lagos

   Governor Ambode (right) discussing with the Irish  Ambassador to Nigeria, Mr. Sean Hoy (middle) and the Consulate of Ireland,  Mr. Connie Guilfoyle (left) during a courtesy visit to the Governo
With his vision to make Lagos the choice investment destination, the state governor, Mr. Akinwunmi Ambode created the Office of Overseas Affairs and Investment at his inauguration, which will radically revolutionise the flow of FDIs into the state. Gboyega Akinsanmi writes


Like other governors in the federation, Lagos State Governor, Mr. Akinwunmi Ambode was 100 days in office penultimateSunday. But Ambode did not mark his first 100 days; neither did he address a news conference on his milestone since he assumed office. This was a sharp contrast to the tradition of his immediate predecessor, Mr. Babatunde Fashola, who marked every 100 days in office.

Even though Ambode did not continue Fashola’s tradition, his aggressive hunt for Foreign Direct Investments (FDIs) has indeed paid off since he took up the mantle of leadership in the state. As a result, Ikeja House, the state’s official seat of power, has been a point of call for foreign missions looking for opportunities they can exploit and foreign investors that chose to do business in the state.

The new scramble for Lagos soul did not happen by accident or by chance. Likewise, it was not just an offshoot of an era gone by. It was largely a product of Ambode, who at his inauguration created an office of office of Overseas Affairs and Investment. The new office is now a beacon for global brands that a new market with varying degrees of opportunities has emerged on the coast of West Africa.

Ambode’s grand strategy for the new office was simply “to assure the business community and corporate Lagos that the ease of doing business in Lagos will be improved upon earnestly and that Lagos is open for greater business.” Contemplating at building friendlier regime, Ambode said the new office became imperative “to enable investors fly into Lagos; start their businesses and work and live in the state.”

True to his ambitious promise, Ambode succeeded creating a new investment climate and an atmosphere for doing business, which he said, dictated his on-going public sector reform; defined his approach to law enforcement; testified to his commitment to public order and safety and explained the rationales his administration had kicked off a comprehensive reform of the state’s judicial sector.

Enabling Climate
At a recent strategic meeting, Ambode provided background to Lagos economy. For him, the size of the state’s population is simultaneously its greatest sources of strength and challenges. But he has been strengthening the state institutions for robust response. He thus said Lagos “leverages on its population and cosmopolitan nature,” which he said, had earned Lagos the most buoyant economy in West Africa.

In terms of economy, Ambode said Lagos “represents the future citadel of entrepreneurship in this country. The state has a population of 21.9 million, of which four million are actually middle class. Lagos is the fifth largest economy in Africa and our GDP has hit $131 billion,” which he said, is more than the GDPs of 42 African countries put together. By this, he said, the state is a destination for investors.

But Ambode acknowledged socio-economic challenges associated with megacities globally. Already, he noted that his administration had started evolving policies and initiatives, which he said, would contain high crime rates and infrastructure deficit and transform Lagos to a choice megacity for foreign investors. He said this explained the creation of an Office of Overseas Affairs and Investment; continued reform of judicial sector and strengthening of security strategy and institutions.

The governor thus explained his administration’s commitment “to the rule of law, judicial institution and security sector,” which he admitted, formed the critical elements iinvestoro.