As Lagosians try to come to terms with the incessant lack of power supply in most parts of the state and the hot weather associated with weather transition, especially at this time of the year, the state governor, Akinwunmi Ambode has reassured Lagosians that between now and 2017, he had an agenda to create clusters of Independent Power Projects (IPPs) across the state to improve on power generation and ensure 24hours power supply in Lagos.
Responding to questions from captains of industries and members of the Organised Private Sector (OPS), at the 5th Lagos Corporate Assembly, a forum for public-private sector engagement held at the Banquet Hall of Lagos House, Ikeja, on Thursday, 18th February, governor Ambode gave a re-assurance of his administration’s commitment to ensure that the Blue Line of the Light Rail Project is up and running by December 2016, he also debunked claims that work had stopped on the first phase of the project connecting Mile 2 to CMS. According to him, “The truth is, you might not see the contractors but they are actually working on the waters for now and by December this year, the project will start running. So, work is seriously ongoing,” he said.
To encourage investors and reduce the pressure on the road networks in the state, governor Ambode said his administration is at the verge of concluding on the channelization of the Lagos water ways to improve on water transportation.
Governor Ambode assured members of the OPS as well as would-be investors that the state is more than willing and ready to create an enabling environment for businesses to thrive with the overall aim of improving on the socio-economic well-being of the citizens. To this end, the governor said his administration created the N25 billion Employment Trust Fund to give soft loans to entrepreneurs just at three percent, while the Office of Overseas Affairs and Investments otherwise known as Lagos Global, the Office of Civic Engagement, as well as the Ministry of Wealth Creation and Employment Generation were equally established, all in a bid to promote investment opportunities.
As part of measures to boost an enabling environment for businesses to thrive, Ambode further stated that his administration is in the process of establishing Lagos Micro Finance Bank, which would go a long way to provide succor for business owners. “As we speak, we are in talks with the Central Bank of Nigeria (CBN) on this and very soon we shall come up with the Lagos Micro Finance Bank and this is another effort geared towards the economic wellbeing of our people.” He said.
Earlier, in a meeting with visiting Austrian Vice Minister for Foreign Economic Policy and European Integration, Mrs. Bernadette Gierlinger at the State Secretariat, Alausa - Lagos, on Wednesday 17 February, the State Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade disclosed that the Lagos State Government is ready to partner Austria in areas of mutual interest in order to create investment opportunities, jobs and reduce unemployment.
