Business

We are focused on creating a resilient economy in Lagos State, says Sanwo-Olu

Badagry Deep Sea Port for unveiling in December

By Edu Abade

 

Lagos State Governor, Babajide Sanwo-Olu has restated his administration’s commitment to creating a sustainable and resilient economy for the state through development of critical infrastructure with public-private partnerships (PPPs) and robust collaboration with stakeholders to achieve diversification of the country’s economy and enhanced foreign exchange, especially from non-oil exports.

The governor made the assertion on Tuesday in Lagos at the second edition of the Central Bank of Nigeria’s (CBN) RT200 Non-Oil Export Summit with the theme: RT200 Non-Oil Export: The Journey So Far, organised by the CBN in collaboration with the Bankers’ Committee.

He explained that in spite of global turmoil and disruptions caused by the COVID-19 pandemic in 2020 and the Russian-Ukraine crisis, the state government would strive to keep its promises of providing critical infrastructure, workable healthcare delivery system, creating job opportunities and other life-enhancing facilities for residents of the state.

Giving details of the projects so far executed by his administration, he said over 308 roads have been constructed during the life span of his administration, adding that the state government remains committed to creating more choices and opportunities, which made it to embark on the development of the Lekki Deep Sea Port that has been completed under a PPP arrangement and awaiting the receipt of the first vessels and consignments by December 2022.

“To reduce the cost of doing business, we have completed a 19kilometre six-lane highway on the Lekki-Epe-Ijebu-Ode corridor. To further consolidate our efforts, the Badagry Deep Sea Port will be unveiled in December so that from the Eastern part of Lagos, businesses will flow through the Epe axis, while the Badagry Deep Sea Port will open up opportunities on the Western flank. These, will, of course, complement the Apapa Ports at the centre.

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“We have our eyes on creating jobs, jobs and jobs, increase non-oil revenues in the country and expand our foreign exchange earning capacity in the next few years,” he said.

On his part, Governor of CBN, Godwin Emefiele, commended the Lagos State Government for creating the friendly environment that has enabled the construction of the $20 billion Dangote Fertilizer plants, the Lekki Deep Sea Port that has been completed and the Dangote Refinery and Petrochemical that is near completion and will soon start refining petroleum products for domestic consumption and exports.

He explained that in terms of processes and infrastructure for improving trade performance, the apex bank has recorded some achievements in automation and digitisation of the trade processes.

“As of today, SONCAP and NAFDAC certificate and Marine insurance certificate are automated and fully integrated with the Trade Monitoring System (TMS).

“In addition, we are working with the Quarantine Service to integrate their permits and certificates into the system and soon the Nigerian Ports Authority (NPA) e-Call Up System will also be integrated.

He further stated that some other enhancements measures have also been done with e-NXP including integration with SGD and the development of the PIA portal aimed at the digitisation of the process of issuing Clean Certificates of Inspection (CCIs) by PIAs and ease of scheduling of inspection by exporters.

“All these are made possible because of the interest shown and the commitment made by all participants and beyond,” he stressed.

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