Lagos State Governor, Mr. Babajide Sanwo-olu, has called on investors in the manufacturing industry to take advantage of the economic policies and incentives put in place by the government as well as the massive development and upgrading of infrastructural facilities to create a conducive environment for businesses to strive.
Sanwo-Olu made this call on Wednesday, 27th October, 2021, during the opening ceremony of the maiden edition of the Lekki Peninsula Region Conference and Expo 2021 organised by the Lagos State Ministry of Commerce, industry and Cooperatives in collaboration with Lekki Development Ventures at Havila Event Centre, Oniru, Lagos.
According to Governor Sanwo-olu who was represented by the Hon. Commissioner for Commerce, Industry and Cooperatives, Dr. Mrs. Lola Akande, the Lekki region Conference and Expo is aimed at unveiling the commercial, industrial, investment opportunities and government incentives to attract and support investment in the Lekki axis.
The Governor said the maiden edition of conference will serve has a unique forum for knowledge sharing and rewarding platform for would-be investors to leverage on the opportunities available in the Lekki axis.
He noted that the Lekki Peninsula Region is demarcated geographically to diversify the economy of Lagos State, and Nigeria, through the establishment of Lekki Free Zone located on the tip of Lekki Peninsula to the souttheast of Lagos State.
Speaking on the theme: Harnessing the Commercial, industrial, Investment opportunities and Government Incentives in the Lekki Peninsula Region, stated that there are facilities and preferential policies to prospective investors in the Lekki Free Zone which includes the permission to sell 100% of manufactured, assembled or imported goods into the domestic Nigerian market.
He added, “there are also 100% foreign ownership of investments, 100% repatriation of Capital, profits and dividends as well as waivers on all imports and exports and imports licenses; waiver on all expatriate quotas for companies operating in the Lekki Free Zones”.
According to him, ” Multi -billion dollar investments, both foreign and local, are springing up within the zone and axis. As you aware, Lekki axis is on the verge of being home to Africa’s biggest oil refinery and it is expected to be operational soon.”
“Also, the Lekki Deep Sea Port when completed and operational in the Third quarter of 2023, will be the most modern port in the West Africa. These two projects are strategic as they will further open up the Lekki axis and unlock huge opportunity for investments and general development of the region.”
While commending the efforts of the leadership of Lekki Development Ventures, Gov. Sanwo-olu said the conference/ expo will optimize and showcase investment opportunities in the region to Nigeria and beyond.
He, however, implored all potential investors to harness the investment opportunity in the region for a flourishing business.
Secretary to the State Government, Mrs. Folashade Jaji, while giving a Goodwill message at the event, said the essence of the conference is to draw the attention of investors and Medium Small Micro Enterprises (MSMEs) to the business opportunities available in Lekki Peninsula Axis inclusive of the Lekki Free Zone.
Explaining further she said, ” There are many opportunities that investors can tap into, you might have other businesses you run now but I will implore you to also look elsewhere just like Nigeria is doing presently inorder to harness the benefits made available by the State Government”.
“When you know and take advantage of opportunities and benefits inherent in businesses, you will only get stronger and it will be beneficial to you and the economy”.
Also, the Chief Executive of Lekki Development Ventures, Hon. Akinfolarin Ayotunde, said that the conference will become an annual convergence of Nigeria and foreign companies and agencies.
While acknowledging Governor Sanwo-olu’s impressive display of goof governance on Lekki Peninsula axis, Hon. Akinfolarin noted that the State Government’s efforts has so far encouraged the desire of Investors to contribute to the commercial, industrial, investment growth of the Lekki Peninsula Region.
He stated that the 57 chairmen who are hosts of 75% businesses in Lagos State which is Nigeria’s and Africa’s Largest market. Growth seeking entrepreneurs and MSMEs will remain critical stake holders of the subsequent conferences and Trade Fair
