Lagos State Governor Babatunde Fashola (SAN)
By Yemi Ifegbuyi
WHEN Lagos State governor, Babatunde Fashola, visits Toronto, Canada, on Friday, May 13, he will be making case for why Canadian investors and companies cannot afford to take the back sit while their counterparts, particularly from emerging economies, take advantages of growing investment opportunities in Lagos, sub-Saharan Africa biggest market.
Friday interactive business section, to be hosted by the Canadian Council on Africa (CCAfrica), will be the single biggest opportunity, in recent time, for business leaders in Canada to engage Lagos governor on the state Marshall’s plans to fast-track development efforts that could see it join the league of global cities in less than two decades.
Since its creation, Lagos has taken an enviable status , as Nigeria’s business capital. Just as the state population — now tagged at 15million — has increased significantly over the decades, its influences on regional markets has been strengthened as well. But Lagos aspiration and its helms-man ongoing action plans for the City, transcend regional influences. It is for Lagos to become the continent’s command center for new businesses, innovations and ideas, and still remains a sophisticated cosmopolitan city — it is well known for .
No one expects Lagos to achieve the status of Africa’s business capital overnight. Attracting and sustaining much needed direct foreign investment, cannot be pursue through mere wish and political talking points — as it has been in the past, in numbers of developing nations. It is one that requires real leadership, which the governor seems to be well aware of.
This seems to be the case when the governor, in his own words, said, “I see a Lagos that will become Africa’s model mega-city, reflecting to the world how we can adapt, innovate confront and overcome the myriad social and infrastructural challenges of very large urban settlements.”
Just two weeks ago, Fashola was re-elected by popular vote, 81% of more than 6million registered Lagosians, for another term of four years. Fashola’s landslide victory over the powerful ruling party’s candidate, was attributed to his peculiar leadership and administrative overseeing of Lagos modest transformation since 2007.
During the governor’s first term, he was successful in laying the foundation for a new Lagos. Much of Lagos business districts have been given face lifts. Popular Neighbourhoods, such as Oshodi, that have in the past infested with miscreants, locally known as area boys, can now breath sigh of relief. Also noticeable, Lagos violent crime rate has declined significantly by 75%. So is the unemployment rate, by 20%.
Fashola most laudable achievement so far, are the ongoing construction of Eko Atlantic City — part of Lagos Mega City Project — and Lagos light rail network, for mass transportation.
Also noticeable, Lagos State government over the past four years has invested heavily in the state education sector — and training of skills workers. 2500 prototype classrooms were constructed, more than 49000 teachers were re-trained and about 3000 youth benefited from the state’s commuter literacy programs.
Lagos development challenges, however, still remains overwhelming, given that the national government has been less than active in contributing its own quota to the development of Lagos, to its full potential. Infrastructural development, such as energy [electricity] provision and transportation network, remains Lagos biggest woes. And the the wide gap between the rich and the poor remains a red flag. For Lagos to be consider serious by big business investors, its has to demonstrate that government is a facilitator of good business environment by reducing red tape and ensuring stability in policies. Provision of Jobs for the city’s surging unemployed youths also pose an unimaginable challenge.
It is therefore right that Fashola seek and partner with tested and trusted governments and business groups that can contribute genuinely to Lagos development aspirations, while making good of opportunities, a growing market like Lagos offer them.
According to Lucien Bradet, president, CCAfrica, “Nigeria is by far one of Africa’s up and coming economies. Canada has a role to play on the African continent and the visit of Governor Fashola will help to acquire a greater understanding of the opportunities that exists in Africa’s fourth largest economy. His visit to Canada demonstrates clearly his belief that Canada can be a good partner to meet some of the challenges he faces in creating a modern and proper State of Lagos.”
The bigger picture? There are many emerging cities — Johannesburg, Nairobi, and neighbouring Accra among others — competing for scarce global capital and know how, and Lagos, just can’t afford to be nonchalant in pushing its own envelope.
Business analysts believe that with projected political stability, wider opening of trading opportunities, and provision of support for the growth of small and medium scale business, it is just a matter time before the wheel of fortune turn in Lagos direction, making it one of the most lucrative markets in the southern hemisphere.
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Yemi Ifegbuyi is a senior editorialist and director of operations for SBG media, publisher of nigeriansbaroadlive.com. He is also a strategic communications consultant on politics and business development, with special interest in North-America, Asia and sub-Sahara Africa. Follow him on Twitter: @tweetyemi
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Meet and Dine with the Governor of Africa’s newest mega city, Babatunde FaShola (SAN) - RSVP NOW!!!
When is he coming to NYC?