FG, 6 states woo investors at ‘Invest in Lagos 3.0’ Summit
Federal and State Governments Promote Investment at ‘Invest in Lagos 3.0’ Summit
The Federal Government, along with six state administrations, encouraged investors to direct funding into vital sectors during the ongoing Invest in Lagos 3.0 Summit. Officials promised attractive returns and improved business conditions to potential investors.
Themed “Lagos: The Business Gateway to Africa,” the summit included presentations from representatives of the Presidency and governors from Lagos, Imo, Abia, Plateau, Taraba, and Nasarawa states.
Finance Minister Dr. Taiwo Oyedele highlighted the government’s commitment to fostering a conducive business environment through ongoing fiscal reforms. He noted that recent tax legislation has minimized multiple taxation, enhanced compliance, and provided relief for small and medium enterprises. Additionally, the transfer of stamp duty collection to state governments was commended, alongside efforts by states to adopt harmonized tax systems.
Speaking to over 600 delegates from global institutions, sovereign wealth funds, development finance organizations, and trade networks, Oyedele reiterated the government’s goal of achieving a $1 trillion economy by implementing supportive fiscal and monetary policies.
Lagos State Governor Babajide Sanwo-Olu called for heightened private sector investment in rail transport, energy, agriculture, agro-processing, and water infrastructure. He asserted that solving transportation challenges would significantly unlock the economic potential of Lagos, reduce travel times, enhance productivity, and improve return on investments.
Abia State Governor Dr. Alex Otti reported that his administration is redesigning Aba and major business clusters to leverage the entrepreneurial capabilities of local residents. Meanwhile, Imo State Governor Hope Uzodinma discussed ongoing efforts to rectify infrastructure deficits and promote industrialization. Nasarawa State Governor Abdullahi Sule advocated for investments in agriculture and urban development, emphasizing the state’s strategic location near the federal capital, Abuja.
