Sanwo-Olu Lays Out 30-Year Plan For Development of Lagos at Ehigbati Lagos Economic Summit
- Lagos State governor Babajide Sanwo-Olu has laid out a 30-year developmental plan for Lagos State
- He said beginning from 2022 to 2052; the state would focus on various aspects of its economic development
- He said the state would move from being a mega city to a model city with four pillars to the plans
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The Lagos State governor, Babajide Sanwo-Olu, has boasted about the strides the state is making in development.
Sanwo-Olu, who spoke at the ongoing Ehingbeti Lagos Economic Summit, stated that if the state existed as a country, it would be ranked among the first 10 in Africa.
Source: Getty Images
Governor states plans transform Lagos
He stated that the government has laid plans to reposition the state to transition from a mega city to a model city in 30 years.
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According to him, the state government has laid out four pillars to actualise the state's mega and model city vision.
He said that the various investments are pouring into the state, signposts it as the investment destination of choice for many investors.
The core pillars of the plan
Sanwo-Olu named the 30-year plans to encompass economy, human capital development, modern infrastructure and governance.
The Lagos Economic Summit, nicknamed Ehingbeti, began on Tuesday, October 11, 2022, at the Eko Hotels and Suites, with experts espousing ways to reposition the economy of the state and the country to attract more investors.
The two-day event will see experts from the banking, transport, arts, and entertainment industry discuss the new economy as Lagos becomes the model city in West Africa.
New airport in Lekki and other large investments that could make Lagos West Africa's biggest economy
Recall that Legit.ng has reported that Lagos State, Nigeria’s melting point, is said to be one of the largest economies in West Africa, almost twice the size of the economies of Togo, the Benin Republic and the Niger Republic.
It is the microcosm of Nigeria, has the biggest Gross Domestic Product (GPD) in the country with $91 billion, and earns far more than any other state from internally generated revenue (IGR).
Lagos also leads other states as the highest indebted in the country. Data from the Debt Management Office (DMO) states that the external debt of Lagos is over $1 billion.
Source: Legit.ng
