LASG REAFFIRMS COMMITMENT TO DEVELOPMENT PARTNERSHIPS, SAY FOOD SECURITY HUB AT 80 PERCENT COMPLETION
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The Lagos State government has reaffirmed its dedication to development partnerships in order to secure long-term funding to address the state’s infrastructure shortfall.
Speaking at a panel discussion at the third biennial West Africa Capital Market Conference (WACMaC) 2023 at the Eko Hotels and Suites with the theme “Infrastructural Deficit and Sustainable Financing in an Integrated West Africa Capital Market,” Mr. Ope George, the Commissioner for Economic Planning and Budget, stated that the state has always worked with states and multinational corporations to upscale infrastructure development.
A flagship initiative of the West Africa Securities Regulators Association (WASRA), the West Africa Capital Market Conference (WACMaC) aims to provide the continent of Africa and the West African region with a forum to discuss critical issues pertaining to the expansion and development of the regional and continental capital markets as well as to draw investment into the sub-region.
According to the Commissioner, the state government forms partnerships through its agencies to develop its infrastructure. Examples of these partnerships include the Waterways Authority, which enhances water transportation, and the Lagos State Metropolitan Area Transport Authority (LAMATA), which is building the Lagos Rail Mass Transit project. Other agencies of this type are also involved in transforming the state’s development.
“We take on projects that may be not many Nationals will take for example; the Rail. The rail lines we have done, we are taking up two rail lines that are going on now, some Nationals doing it too. We are also conscious of the fact that we need to do a lot more, we need to do a lot more with multinational agencies. With LAMATA, with our Waterways, quite a few of them; we are constantly working with them in making sure that we can give our people the infrastructure that is required.
He pointed out that the state government is putting more money into food security than only road and rail infrastructure, as seen by the Food Security System and Logistics Hub construction at Ketu-Ereyun in the state’s Epe Area, which is currently 80% complete.
“One of the things we are also looking at is Food Security. We know that Food Security is key, so we are currently building a Food and logistics hub in Ketu about 80 percent complete. We have had a lot of interest from multinational agencies that want to take part in that and look for how we can transform the food that is generated along the coast. So it is not just infrastructure projects, there are other projects we are looking at to ensure that we can sort of tie with our neighbours and other states on the coast of West Africa,” he said.
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