Destination Branding: Lagos Govt Unveils 30-Year Plan At Ehingbeti 2022 Summit
To position Lagos as a destination of choice, the state government has launched the state’s 30-year development plan which will be implemented between 2022 and 2050.
This was made known by the Governor of Lagos State, Babajide Sanwo-Olu, at the 2022 Ehingbeti Economic summit held in Lagos.
Speaking on the Lagos State 30-Year Development Plan, Sanwo-Olu said the government would continue to pursue policies that were inclusive and equitable to all, over the development plan period.
He added that the plan was an all-encompassing master plan, which clearly articulated initiatives that would drive Lagos’ ambition to become Africa’s Model Mega City and also to drive Lagos State as a global, economic and financial hub that was safe, secure, functional, and productive.
Sanwo-Olu has also announced the creation of the Lagos state wealth fund (LSWF) and civil bills which are critical to the future development of the state, as they would enhance the ease of doing business in Lagos.
According to him, the LSWF is a signal of the commencement of the state’s sub-sovereign green bond that will create sustainable wealth for the government and the residents.
He said the fund will allow the state to create a wealth reserve that will be instrumental to delivering infrastructure and preventing Lagos revenue from external shocks and making the state a technology and investment hub.
LSWF would bring development as it is the first sub-national sovereign wealth fund in Africa, thereby joining Singapore and Canada which have similar wealth funds and had gone on to do great things with it.
Sanwo-Olu further said the house of assembly has been notified that the bill was on its way for their approval, adding that he has been assured by the legislature that the bill will receive speedy passage as the law is expected to play a critical role in the future of Lagos and its 30-year development plan.
Also, the Lagos State Government has gotten the approval to embark on the development of a passenger and cargo airport on the Lekki-Epe axis of the state.
Minister for Aviation, Senator Hadi Sirika presented the document to the Governor on behalf of President Muhammadu Buhari during the event.
In his remarks, Sanwo-Olu described the approval as another “successful step forward” towards delivering his administration’s agenda of Greater Lagos and keeping the State on the path of irreversible economic prosperity.
He said: “Granting the licence for the airport project is a right step in the right direction. For us, it is all about partnership for the greater good of our State. The real beneficiaries are the citizens and the businesses that will be using the infrastructure to activate more economic prosperity. We are bringing the Government to tap business opportunities, while also providing platforms for businesses to flourish. That is how great economies are developed.