WE’LL IMPLEMENT REFORMS THAT FOSTER BUSINESS FRIENDLY-ENVIRONMENT – SANWO-OLU

… Commends Resilience of Business Community

Lagos State Governor, Babajide Sanwo-Olu has reassured the business community in the State of continuous engagement and listening to their needs towards shaping the implementation of reforms that will foster an environment necessary to grow businesses.

Governor Sanwo-Olu gave the assurance at the extraordinary 9th Lagos Corporate Assembly held in Lagos, Ikeja on Tuesday, themed: “Unpacking Barriers to Ease of Doing Business: Accelerating Business Growth”.

Represented by the Deputy Governor, Dr. Obafemi Hamzat, the Governor stated that through the 4th Pillar of the T.H.E.M.E.S Plus Development Agenda, M pillar – which is Making Lagos A 21st Century Economy, his administration remains steadfast in its commitment to sustaining an enabling environment for businesses to grow and thrive.

He said, “I assure you of our continued support as our administration is unreservedly committed to providing the necessary resources, infrastructure, and policies that will ensure your businesses not only survive but thrive. Using the instrument of the agenda, we have introduced numerous policy reforms to ease the doing of business in Lagos”.

The Governor commended the resilience of the business community, noting that despite the numerous challenges, including the current global economic downturn confronting their operations, they have continued to innovate, adapt, and contribute significantly to the growth of the State, stressing that their tenacity and entrepreneurial spirit are the bedrock upon which Lagos’s economic success is built.

Sanwo-Olu also described the Lagos Corporate Assembly as a crucial platform for public-private dialogue, where parties collectively identify challenges, discuss solutions, and chart a course for sustainable economic growth and development. 

“This is because we recognise the power of stakeholder engagement and the importance of providing a listening ear to the business community. Our resolve is to make the LCA a formidable platform for public-private collaboration, ensuring that their voices are heard and their concerns are addressed promptly. We are determined to turn the feedback we receive from you into actionable policies that will further ease the business environment in Lagos”, he said.

Commissioner for Commerce, Cooperatives Trade and Investment, Folashade Ambrose-Medebem stated that the 9th Lagos Corporate Assembly is particularly extraordinary because key Federal Government Agencies, whose roles are critical to the Ease of Doing Business, were invited to interface with the representatives of the Lagos Business Community.

“Here in Lagos, we understand the language of business and what we need to do to get our investors and businesses to where they ought to be. Lagos State has been at the forefront of promoting the Ease of Doing Business reforms in Nigeria over the years. I am glad to note that according to the World Bank’s Subnational Doing Business Report, Lagos State applied and met all criteria to qualify for the first phase of the World Bank-funded State Action on Business Enabling Reforms (SABER) programme”, she said.

The Commissioner revealed that her Ministry, MCCTI, is in the process of constituting an Ease of Doing Business (EoDB) Team that will be tasked with interfacing with stakeholders in the business community via a one-stop-shop virtual interface. This will be technology-driven to meet the demand of the highly digitised local and global investors community. The virtual one-stop-shop interface will be enabled with robust connectivity to strategic global business gateways to enhance access to the State for the global business communities.

“As an implementing Ministry, MCCTI will continue to interface with other Ministries, Departments and Agencies here in the State, across other States of the Federation and at the Federal level, including relevant local and international support institutions and Economic Development Partners, towards ensuring improved Ease of Doing Business and sustenance of an enabling business environment in the State”, she noted.