The All Progressives Congress governorship candidate, Babajide Sanwo-Olu, has highlighted the investment opportunities in Lagos State at a session with selected Swiss investors in Geneva, Switzerland.
Sanwo-Olu met with the investors on the sidelines of the 2019 World Economic Forum which commenced in Davos on Tuesday.
The business interaction triggered commitments of $5bn investment in capital projects in Lagos, a statement by the media office of the APC governorship candidate stated on Tuesday.
It noted that the investors, comprising commodity traders, equity managers, investment bankers, information technology experts, infrastructure builders, international donors, energy and power companies and others, agreed that Lagos was a fertile ground for investment.
They, however, expressed concern about political risk in the state.
Sanwo-Olu was said to have assured the investors that Nigeria was safe for investment, and Lagos State, as the economic nerve centre of the country, presented the best environment for global investments.
“There has been progressive leadership and stability in the governance of Lagos State since 1999. The state has been under the administration of a party, my party, which is the All Progressives Congress, for more than 16 years. The state has remained a reference point for infrastructural development and economic prosperity in Nigeria and West Africa.
“On investors’ protection, I think that should be the least of your worries. Lagos has a comprehensive regulation that protects and shields investors. The scope of the regulation covers disputes resolution and commitment to the ease of doing business,” he said in the statement.
The Country Portfolio Manager, High Impact Africa 1, Grant Management Division, Global Fund, Ibrahim Faria, reportedly pledged to support the health system in Lagos State if Sanwo-Olu won the election.
He said, “We have particular interest to support the health system in Lagos. Global Fund is an important partner of the Nigerian government through funding support for HIV/AIDS, malaria and other diseases.”