Nigeria: Lagos State Governor invites UK investors to choose Lagos as preferred investment destination
Governor Babajide Sanwo-Olu of Lagos State has extended a warm invitation to foreign investors, particularly those from the United Kingdom, encouraging them to consider Lagos as their preferred destination for investments.
Asserting his commitment to fostering a conducive business environment, Sanwo-Olu emphasised his administration’s dedication to making Lagos an attractive hub for global investment.
The governor made these remarks during a courtesy visit by the United Kingdom Secretary of State for Business and Trade, Rt. Hon. Kemi Badenoch, at Lagos House, Marina, on Wednesday.
Governor Sanwo-Olu highlighted the imperative of enhancing trading activities to bolster Nigeria’s economy, advocating for increased domestic consumption of locally produced goods as a means to reduce reliance on foreign currency.
He said: “For us, we see a whole lot of opportunities that Lagos can be for our country while also identifying and managing the challenges that we need to deal with on a continuous basis.
“We will continue to make the environment investment and business-friendly. We will continue to make Lagos a destination of choice. We understand that people have choices but they can indeed make those investment decisions in Lagos.
“Lagos is one of the reference points not only in West Africa but in the whole of sub-Saharan Africa and we are excited that you are here. We are hoping that you have seen one or two things that you can take back and you can continue to assure the business community in the United Kingdom that Nigeria is ripe already and Lagos is a destination that they should consider.
Emphasising the significance of bilateral trade, Secretary Kemi Badenoch expressed enthusiasm among UK businesses towards investing in Nigeria, particularly in Lagos.
She reiterated the United Kingdom’s readiness to collaborate with Nigeria in dismantling trade barriers and facilitating seamless business operations between the two nations.
She said: “Primarily, I want to continue doing what my main job is, which is promoting British business and international trade all across the world and I visit many countries.
“And of course, when the opportunity arose, I definitely wanted to come to Nigeria. As many people know, this is the country that I lived in when I was a child. And the first meeting that I had was a British business roundtable, which is for businesses from the United Kingdom that are investing in Nigeria, mainly in Lagos.
“We want to make sure that we have a two-way trade. We know the challenges that Nigeria is having with foreign exchange. One of the ways that you can resolve that is by exporting more and finding out what we can do on the United Kingdom side to reduce those barriers to trade and ensure that business between the two countries goes as smoothly as possible.”
The meeting underscored the mutual interest shared by Nigeria and the United Kingdom in strengthening economic ties and fostering sustainable development. With Lagos emerging as a beacon of investment opportunities in West Africa, the governor’s invitation signals a concerted effort to attract foreign capital and drive economic growth in the region.
As global economic dynamics continue to evolve, collaborations between nations like Nigeria and the United Kingdom are pivotal in unlocking new avenues for prosperity and ensuring inclusive development.
Governor Sanwo-Olu’s proactive engagement with international partners reaffirms Lagos’ position as a preferred destination for discerning investors seeking lucrative opportunities in Africa’s largest economy.
