Latest news with #LagosStateGovernment
Zawya
01-05-2025
- Business
- Zawya
Nigeria: Lagos govt committed to development of creative industry — Sanwo-Olu
Lagos State Governor, Mr. Babajide Sanwo-Olu, has thrown his weight behind the All-Africa Music Awards (AFRIMA) 2025, which is set to be hosted in the state, assuring that his administration will continue to provide opportunities, hope, and space for people in the creative industry to thrive. Governor Sanwo-Olu gave the assurance during a courtesy visit by members of AFRIMA and representatives of the African Union Commission (AUC) at Lagos House, Ikeja, on Tuesday, amplifying the growing momentum around the highly anticipated event, which has already garnered backing from key stakeholders, institutions, and corporate sponsors at national, continental, and international levels. The governor further affirmed that his administration would continue to create clear business opportunities and a conducive environment for individuals in the creative industry to excel. 'He noted that Lagos had given life to many people in entertainment, fashion, and the arts by supporting them to actualise their dreams while helping them showcase their talents. 'It was not difficult for us to make entertainment, tourism, and everything in the creative space one of our cardinal objectives. We are very intentional because we realise that the creative industry is a place where the youth, with a dynamic population, want to be. 'It is also the largest employer of labour in different ways and means. But more importantly, it helps to tell the African story — a story the entire world has not heard — and enables us to promote and work with it. 'As a government, what we set out to do is to continue to give opportunity, hope, and space for creative people. 'We will give them the platform and create a clear business opportunity and environment for them to thrive and do well. Lagos has become a destination for good reasons. 'We know AFRIMA. It is indeed an honour that, as strategic as we are, AFRIMA deemed it fit to hold its 2025 events in Lagos. It comes with responsibility and commitment. 'Lagos is capable, and it is big enough to host AFRIMA, and we will take it forward. We have the structures and infrastructure to support AFRIMA,' the governor stated. Speaking earlier, the leader of the delegation, Ms. Angela Martins, who is also the Head of the Culture Department and Acting Director of Social Development, Culture, and Sports of the African Union, expressed appreciation for past support from the Lagos State Government for AFRIMA, aimed at promoting the cultural and creative industries across the continent and recognising musical talent in Africa. 'Lagos has hosted the AFRIMA awards before, and we are truly thankful for the support. 'We are looking forward to more support from the Lagos State Government to host AFRIMA 2025 and beyond,' she said. Also speaking, the President and Executive Producer of AFRIMA, Mr. Mike Dada, said the hosting rights for AFRIMA 2025 were ceded to Lagos State in recognition of Governor Sanwo-Olu's administration's hard work, focus, passion for the creative industry, and alignment with entertainment — one of the pillars of the THEMES+ agenda in the state. Dada therefore sought the support, blessings, endorsement, and partnership of Governor Sanwo-Olu and the state government for a successful AFRIMA 2025 in November. 'Lagos State is the mecca of entertainment, music, and the film industry in the Middle East and Africa. We request the right partnership and support to ensure AFRIMA is successfully hosted in Lagos. 'We need institutional and financial support to host over 1,500 artists and managers for the event, which we use to promote African cities and unite our people through music,' he said. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
23-04-2025
- Business
- Zawya
Nigeria: FG, Lagos govt commit to boost steel sector
The Lagos State Government, in a deliberate move to boost the operation of steel companies in Nigeria, has reiterated its commitment to collaborating with the Federal Government to achieve this goal. Governor Babajide Sanwo-Olu, recognizing the negative impact that an inadequate power sector has on the industry, has promised to assist the Ministry of Steel Development in every way possible to ensure improvements. Speaking on Tuesday through his Deputy, Dr. Kadri Obafemi Hamzat, the governor made this commitment while hosting the Minister of Steel Development, Prince Shuaibu Abubakar Audu, and his entourage on a courtesy visit at his official residence on Osborne Road, Ikoyi. He acknowledged that steel companies are significant power consumers, a fact well known due to their energy-intensive operations. 'Lagos is grateful to Mr. President for signing the Fifth Amendment Bill No.33, the Devolution of Powers, which expands the scope of State Legislative powers to include the generation, transmission, and distribution of electricity within areas covered by the national grid system. This decentralized power system is the only way forward, allowing states to take control of their own destinies,' the governor said. Governor Sanwo-Olu stated that the state had established various commissions, including the Lagos State Electricity Regulation Commission, independent market operators, and a rural fund to assist. He also mentioned that the state government had issued a Request for Proposal (RFP) to encourage the construction of five power plants across Lagos, with the process already underway. The governor further reaffirmed the state's commitment to addressing power generation needs for steel development. 'In another year, once the plants are operational, we will begin building our grids in a way that ensures these industries have the power they need. We are starting and aligning with the new power economy agenda set by Mr. President,' he said. Earlier, Minister of Steel Development Prince Audu expressed appreciation for the Lagos State Government's efforts in creating an enabling environment for the steel sector to thrive. 'Sixty percent of private steel companies, based on data from the Federal Ministry of Steel Development, operate in the Lagos, Ikorodu, Ogun, Sagamu, and Abeokuta areas. I am here with my team to engage with both the government and private steel companies to understand their challenges, identify opportunities, and explore how the ministry can create fiscal incentives to improve their operations,' the minister said. He added that addressing these challenges is crucial to meeting President Bola Ahmed Tinubu's goal of creating a $1 trillion economy for Nigeria.
Zawya
22-04-2025
- Business
- Zawya
Nigeria: Lagos to NIESV, others support drive to reduce rent burden
Lagos State Government has charged the leadership of the Nigerian Institution of Estate Surveyors and Valuers (NIEVS), Real Estate Developers Association of Nigeria (REDAN) and Association of Estate Agents in Nigeria (AEAN) to support the drive to reduce rent burden on residents. Besides, the state government urged them to shun the prevalent illegal fees in real estate business. They were also urged to stem the rate at which agents across the real estate value chain engaged in competition of fees in real estate transactions. The state authority pointed out that the introduction of illegal fees such as caution fee, inspection fee, finders fee and others represented professional harmful practice affecting tenants and put the integrity of the practitioners and property owners at stake. These were the feedbacks the estate surveyors, developers and estate agents got when they were invited to a stakeholders meeting jointly chaired by the Commissioner for Housing, Moruf Akinderu- Fatai and Barr. Barakat Odunuga – Bakare, the Special Adviser to the Governor of Lagos State on Housing, at the weekend. The session is a continuation of the strategic engagement to curb arbitrary rent charges, demand for high agent fees and promotion of sanity in real estate business in Lagos state. The state government through the Commissioner and the Special Adviser challenged the association to protect the integrity of the real estate business with a support for joint effort of all stakeholders for full enforcement and compliance with the real estate transaction laws of Lagos State. Akinderu-Fatai explained that the aim of engaging all stakeholders was to strengthen the working relationship between the state government and the professional bodies for the benefit of Lagosians. ''Lagos State Government is concerned about the challenges faced by families in securing and retaining rental accommodation in the state with unpleasant rent increment and illegal estate transaction charges,' he said. The commissioner reiterated the plan of the Lagos State Government to encourage and promote monthly and quarterly rent payment in the State in line with the tenancy law. He said that the state government is aware of the increase in demand for housing but that the government would no longer tolerate and allow the extortion of accommodation seekers with unwholesome practices. 'I want to assure you that the state government under the leadership of Mr. Babajide Sanwo-Olu is compassionate and will leave no stone unturned to ensure sanity in real estate business in the state,' Akinderu-Fatai said. Barakat Odunuga-Bakare stated that ''there are existing state laws such as 2015 Tenancy Law and LASRERA Law which specify a percentage of chargeable fees of not more than 10 percent on real estate transaction. She also reminded the stakeholders of the responsibilities of the Lagos State Real Estate Regulatory Authority (LASRERA) as established by the law to register, regulate and monitor real estate business in Lagos State. Odunuga-Bakare also urged the stakeholders to cooperate with the State government to ease the conditions under which Lagosians secure accommodation. Responding, Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIEVS) Lagos Branch, Gbenga Ismail; Chairman, Lagos chapter of Real Estate Developers Association of Nigeria (REDAN), Dr. Kolawole Tony; and and Dr. Adeniyi Tinubu of the Association of Estate Agent in Nigeria (AEAN) jointly expressed their readiness to forge a workable alliance with the state government to solve high rent cost and excessive charges. The professional bodies will also join the state government in promoting advocacy, public enlightenment as well as sensitization programmes on the best practices in real estate transactions. The meeting further resolved to convey another stakeholder's forum to be attended by representatives of all practitioners in real estate business, including the Nigerian Bar Association for a holistic buy-in of every sector for the benefit of Lagosians. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
10-04-2025
- Business
- Zawya
High-level sessions on smart cities, innovation, digital economy, and sustainability during AIM Congress 2025
Abu Dhabi, UAE – Among the numerous roundtables at AIM Congress 2025, global city leaders also gathered for the 'City Mayors' Roundtable: Global Digital Cooperation – Mayors Leading the Way,' a high-level dialogue focused on advancing digital transformation and smart city innovation. Berangere Boell, United Nations Resident Coordinator, emphasized the critical role of local leadership in driving global development while Tunbosun Alake, Honorable Commissioner for Innovation, Science & Technology from Lagos State Government, outlined Lagos's tech-driven transformation through a seven-pillar innovation plan, expanded digital infrastructure, and youth talent development. In unison, John-Charuk Saah Siafa, Mayor of Monrovia City Corporation, shared how Monrovia is digitizing its revenue systems, training youth in digital skills, and piloting smart waste management solutions to improve urban services and Amable de Jesús Hernández, Mayor of San Jose de Colinas, focused on expanding internet access, promoting digital education, and using technology to increase government transparency as part of Latin America's post-COVID recovery. Meanwhile, Tamraz Taghiyev, Chair of the National Association of City Municipalities of Azerbaijan, highlighted the importance of improving rural connectivity, advancing smart city initiatives, and ensuring strong alignment between local and national governments. Across the board, city leaders agreed that accelerating digitalization requires talent development, knowledge sharing, strong policy frameworks, and inclusive access. Parallelly, Leaders in technology and innovation gathered for a powerful session on 'Leadership in Scaling Digital Economies – Reimagining Economic Creativity, Connected Industries, and Sustainable Societies.' Held under the Digital Economy portfolio, the discussion was moderated by Paul Hamilton (Ibtikar) and emceed by Zulf Hyatt-Khan (Council of Slovak Exporters) and the panelists explored AI's role in shaping inclusive, sustainable economies. Key themes included the ethical use of AI, the urgency of upskilling, and the need for emotional intelligence in tech leadership. 'AI enables personalization at scale,' said Mohamed Emad (IBM MEA) while Charles Austen Angell ( added, 'We're not trying to create standardized intelligence—no two people think the same.' Ajibola Odukoya (AfriLabs)urged, 'We must invest in ourselves and unlearn what we know,' highlighting agility as a path forward. Joseph Musolino (SAS Institute) called the current wave an 'AI renaissance,' cautioning against unchecked advancement. Nicola Bettio (Sharjah RTI Park) emphasized AI's power to democratize education, while Zulf Hyatt-Khan closed with a call for emotional intelligence and gender equity in tech. The message was clear that innovation must be human-centered to build a truly connected and sustainable digital future. A Panel on Innovation and Entrepreneurship was also held discussing building Ecosystems for Impact. Moderated by Dr. Hashim Suleiman Hussein Mohamed, of UNIDO-ITPO Bahrain, this dynamic session spotlighted strategies to foster entrepreneurial success globally. Dr. Hussein introduced the Global Entrepreneurial Alliance, launched in January 2025, now active in 54 countries, and announced UNIDO's Global Call 2025, focused on youth-led, eco-friendly and digital innovations. Dalal Alqais, CEO of Bahrain Development Bank, highlighted Bahrain's SME-friendly policies, including interest-free loans, women-focused programs like Riyadat, and the BHD 100 million Estimya Fund to help startups scale while Mohamed Aboud of the University of Dubai promoted the Triple Helix model and shared examples of university-to-startup transformations, including Saudi Arabia's billion-riyal Hajj innovation fund. Dr. Muhammad Sharif of ICESCO presented the 3A Model (Awareness, Acceptance, Action) and entrepreneurship programs reaching over 1,800 youth in 30+ countries, with a focus on clean tech and education and Fadi El-Din El-Maqboul, Plants Co. GM, emphasized four ecosystem pillars—infrastructure, policy, support, and culture—urging investment in local innovation with global potential. On the other hand, a Fireside Chat titled 'Sustainability in Startups: Green Startups – A Cross Cutting Topic with Investing Perspective' brought critical attention to the role of startups in advancing environmental and social impact. Moderated by Liz Krymalowski of Orbillion Bio, the session featured insights from Gilbert Ewehmeh, Continental Coordinator at Accelerate Africa, and Lindsay Miller, Managing Partner at MENA Moonshots. Both speakers emphasized the importance of green startups in emerging economies, particularly in Africa and the MENA region, where sustainable innovation directly addresses local challenges such as waste management, pollution, and economic inclusion. 'Sustainability is not just a buzzword—it's about building businesses that last, create real value, and benefit both people and the planet,' said Miller. Ewehmeh highlighted the need for cross-border collaboration to scale impact, stating, 'When Africa and MENA work together, we create a more resilient, interconnected innovation ecosystem.' The discussion underscored that founders need supportive communities, inclusive policies, and investor backing to bridge the gap between long-term sustainability goals and short-term business pressures. With growing momentum, sustainable startups are poised to shape the future of regional economies. Alongside the numerous insightful sessions and discussions held, The "AIM" Global Foundation concluded a series of high-level Memorandums of Understanding, reflecting their status as a catalyst for enhancing joint efforts among global partnerships and strategic economic cooperation. This affirms the success of the Summit and its ability to achieve its strategic objectives in enabling cross-border cooperation and shaping the future of global investment. Among the most prominent international entities and institutions with which Memorandums of Understanding were signed are: the American Chambers of Commerce, the Chamber of Commerce and Industry of St. Petersburg, the Business Support Foundation in the Sverdlovsk Region, the Eurasian Business Alliance, the International Chamber of Commerce in Kazakhstan (Atameken), the TMK Research and Development Foundation, the UAE-Russia Business Council, the Chambers of Commerce and Industry of the Ryazan and Tula regions, the Community Development Center in Armenia, the Chamber of Commerce and Industry of the Amur Region, the Chamber of Commerce and Industry of the Khabarovsk Region, the Investment Promotion Agency in the Krasnodar Region, and the Cheung Kong Graduate School of Business.
Zawya
26-02-2025
- Business
- Zawya
Nigeria: Lagos govt moves to transform Lekki into Africa's premier destination for trade
Lagos State Government on Tuesday, formally unveiled Operation Quadrant Ignite (OQI), saying that through the bold initiative, it seeks to transform the Lekki Economic Zone (LEZ) into Africa's premier destination for manufacturing, trade, and investment. The State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose, made this known while speaking at the Design and Innovation Exhibition organised by Design Week Lagos and held at Victoria Island, saying that the initiative stood at the core of Lagos State's industrialisation strategy. The commissioner, while noting that Lekki had long been envisioned as the industrial nerve center that would accentuate Lagos' strategic location, abundant resources, and robust infrastructure, stated that it was a vision that is now being turned into reality through Operation Quadrant Ignite. According to her, the state government will through this initiative be unlocking the full potential of the Lekki Economic Zone, ensuring that underutilised assets are repurposed and land use optimised for maximum productivity, pointing out that the transformation was not just about land development, about also about creating an integrated industrial ecosystem that fosters innovation, efficiency, and global competitiveness. 'Through this initiative, Lagos State Government, under the able leadership of Governor Babajide Sanwo-Olu, is unlocking the full potential of the Lekki Economic Zone, ensuring that underutilised assets are repurposed and land use is optimised for maximum productivity. This transformation is not just about land development; it is about creating an integrated industrial ecosystem that fosters innovation, efficiency, and global competitiveness. 'A critical pillar of Operation Quadrant Ignite is the establishment of a Catalytic Fund, designed to provide targeted financing for industrial projects with high growth potential. 'By attracting investment from Development Finance Institutions (DFIs), private equity firms, and venture capitalists, this fund will serve as a catalyst for industrial expansion, enabling businesses to scale rapidly while ensuring that local enterprises are not left behind in the process,' she stated. The commissioner further stated that Operation Quadrant Ignite ((OQI) leverages the strategic importance of the Lekki Deep Sea Port, positioning Lagos as a hub for export-driven manufacturing, adding that it also seeks to integrate efficient logistics, world-class port facilities, and seamless trade. She maintained that Operation Quadrant Ignite was more than a policy, saying that through this initiative, Governor Babajide Sanwoo-Olu's administration was not just envisioning a more prosperous Lagos, but actively building it. 'We recognise infrastructure as the backbone of industrial growth that will enable Lagos-based industries to compete effectively in the global market, ensuring that locally manufactured goods reach international consumers with speed and efficiency. This initiative prioritises the development of world-class road networks, reliable energy supply, and digital connectivity, providing industries with the essential infrastructure they need to thrive, and reinforcing Lagos's reputation as the preferred destination for industrial investments in Africa. 'Operation Quadrant Ignite is more than a policy; it is a commitment; a commitment to sustainable industrial growth, a commitment to unlocking economic potential, and a commitment to positioning Lagos as a global leader in industrialisation. Through this initiative, the Sanwoo-Olu's administration is not just envisioning a more prosperous Lagos, we are actively building it,' the commissioner said. Ambrose assured that the industrial transformation of Lagos was well underway, noting that the opportunities ahead were limitless, just as she enjoined stakeholders, investors, and partners 'to join in this bold journey that will ensure Lagos remains the heartbeat of Africa's industrial evolution.' The Managing Director, Lekki Worldwide Investments Limited, Adeniyi Akinlusi, described Lekki Economic Zone as the location of leading enterprises and manufacturing concerns that were setting the pace in Nigeria's industrialisation trajectory. Akinlusi said the Lekki Economic Zone holds considerable potential, pointing out that it had a great role to play in bid for Lagos to set the pace in the new frontier of African industrialisation. Founder, Design Week Lagos, Titi Ogunfere, described the gathering as not just another exhibition but a bold statement about the future of Nigeria's industrial and manufacturing sectors. 'As we stand at the crossroads of transformation, we recognise that true economic progress is driven by design, manufacturing, and innovation. The nations that have led the world – whether through technological revolutions or manufacturing excellence – have been built by design. 'History has shown us that design and industrialisation go hand in hand. Today, Nigeria stands at that same inflection point. We are a nation rich in talent, resources, and ideas, and as seen in this exhibition, the potential for design-led manufacturing is immense. The products showcased here – from furniture and industrial design to product invention – have proved that we have the creativity, skill, and vision to compete on a global scale. 'But potential alone is not enough. To move from vision to reality, we must create the right policies, infrastructure, and business environments that empower designers, manufacturers, and entrepreneurs to produce at scale – not just for local markets but for export. 'That is why today's discussions on industrialisation and investment are so critical. The Lekki Free Trade Zone and other industrial hubs offer an unparalleled opportunity to develop a Made-in-Nigeria export economy, but this requires collective action. We must bridge the gap between designers and manufacturers, ensuring that ideas do not remain concepts but become tangible products,' she said. The event also had a panel of rich resource persons comprising the Director General, Manufacturing Association of Nigeria, MAN, Mr Segun Ajayi-Kadiri; Managing Director, Alaro City, Yomi Ogunmola; Founder/Chief Responsibility Officer, Ruff 'N' Tumble, Adenike Ogunlesi and Deputy Managing Director, Lekki Free Zone Development Company, Bolatito Ajibode. Others are the Group Finance Director, Tolaram Group, Mineshaft Rathi; Industrial Policy Commission Facilitator/National Practice Lead, Nigeria Economic Summit Group, Muda Yusuf; and CEO, Commercio Partners Asset Management, Tosin Osunkoya.
