Lagos gets N5bn FDI in three months

Posted by News Express | 20 March 2016 | 2,565 times

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Lagos State government has recorded over N5 billion foreign direct investment (FDI) in the first quarter of 2016, Dr. Yakub Olajide Bashorun, Permanent Secretary, Office of Overseas Affairs and Investment has said.

Dr. Bashorun made this disclosure at the weekend during a one-day sensitisation of MDAs on mandate of Office of Overseas Affairs & Investment in Lagos.

Speaking on the investment profile of Lagos, the erstwhile Permanent Secretary in the Ministry of Agriculture and Co-operatives, said: “The investment projection for the state is very high. In the first quarter for instance, we have done about N5 billion worth of investment into Lagos, creating hundreds of jobs for Lagosians.

“That is over 50 per cent of what has come in to the country this year alone.  So you can imagine what will still be done with this kind of sensitisation workshop with everybody on the same page, whether in agriculture, in power, in transportation, health, medical tourism, ICT, education, entertainment and tourism sectors. So these are areas that are huge.”

Continuing, he said: “We will continue to monitor with aftercare because it is not only enough to ensure that investment comes to Lagos we want to also ensure that investment is thriving. If they are doing very well how can they do even better? Can they open more branches? If they are not doing well is that something went wrong along the way? Is it in terms of implementation of agreement? There has to be somebody who is working out the interest of everybody and that is what we’re doing.” (TVC)

Source: News Express

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