Lagos Welcomes Indian Industry

Lekki Free Trade Zone (LTZ), Medical Park, Transportation, Agriculture, Manufacturing, Oil and Gas, Power, Shopping Mall, Power generation, International Airport, among others have been identified as some of the immediate key investment opportunity areas available in Lagos State for investors to tap into.

Permanent Secretary in the Ministry of Commerce, Industry and Cooperatives, Mr. Olalekan Akodu, made this known to the members of Confederation of Indian Industry Business Group during a courtesy visit to him in the ministry, recently.

While welcoming them, Akodu, said the list was in-exhaustive and expressed the government’s renewed commitment to Public Private Partnership (PPP) and its readiness to provide conducive atmosphere and other support services for businesses to thrive. He recalled that years back, the Indians used to be very visible in doing business in Lagos, but that nowadays the Chinese Nationals have conspicuously taken over.

He said it would be a welcome development now that they have decided to return to Lagos. He therefore urged them to key into these identified investment areas and take advantage of it without further delay as they stand to gain a lot of benefits.

Akodu, noted that though Lagos is the smallest State in Nigeria and the former Capital of the Country, it remains the Economic nerve Center of the nation and that this impacted on daily population increase.

He said they could not have come at a better time now that the present Administration, riding on the back and success of past Administration in the past 16 years, has put in place new Offices to facilitate business relationship with investors.

This, according to him, is to say that Lagos must continue to be the investment destination of the country, especially in terms of provision of infrastructural facilities, secure and business friendly environment in line with best practices in the world.

He said the new Office of Overseas Affairs and Investment is meant to be a one-stop-center that will help facilitate the essential documentation needed by any prospective investor to have incentives in terms of presentation of business proposals for a soft landing.
The Permanent Secretary emphasised the importance of networking and synergising with the private companies, the Lagos Chamber of Commerce and Industry and other relevant Organisations who have joined hands with the present administration in moving the state forward.

Earlier, the Team Leader, Naresh Kumar Leekha, Executive Director (West Africa Region) Tata International Limited, thanked the Permanent Secretary for receiving them even at short notice.

He said their visit to Lagos coincided with the Indian Show organised by the Indian Embassy in Nigeria, which is expected to re-launch India back to Nigeria and indeed Lagos.

According to him, it is also an opportunity to bridge the gap between the two Countries. He said they came looking for opportunities and have not been disappointed considering the success of the exhibition.
Naresh expressed satisfaction with the reception received so far which according to him is an indication that Lagos is ready to do business with credible investors.

He expressed their readiness to do business in Nigeria but sought to know what special benefits are derivable from partnering with Lagos State Government and doing business in Lagos state in general.
The Management Team of the Ministry, representatives of Lagos Commerce and Industry, Ministry of Education, KPMG and General Manager, Ibile Oil & Gas, also graced the visit.


Source: Thisday News

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