Gboyega Akinsanmi
12 November 2009
Lagos — Lagos state government yesterday announced its plans to attract global investments through the forthcoming Lagos Economic Summit (Ehingbeti), stating that the Lagos megacity project is not a myth.
Commissioner for Budget and Economic Planning, Mr. Ben Akabueze disclosed this at a press briefing held at the State Secretariat in Alausa, Ikeja, adding that the summit "offers opportunities to showcase Lagos State as an emerging arena for world investments".
Akabueze said Ehingbeti 2010 "will put Lagos State on display, showcasing it as a sea of vast opportunities, by presenting investment projects to potential investors." According to him, " The summit as designed will provide potential foreign investors first-hand information on investment opportunities available and lay bare all myths and misrepresentations that have surrounded Lagos Megacity".
He explained that the summit was designed to attract a cross-section of local and foreign participants from the private and public sectors, development partners, civil society, donor agencies and academia.
Akabueze added, "It is our plan to see the summit develop into an independent agency with a structured secretariat and standing work groups, policy commission to optimize the gains of its establishment".
The summit, which has as theme, Lagos: Investment Opportunities in Africa's Emerging Model Megacity, according to the commissioner, will enable the state to expand its international content to clearly and actively solicit direct investment.
He posited that the plan of the state government was to make the summit a regular feature in the international calendar of business events.
He said the renowned scholar of African Economies at Oxford University, Professor Paul Collier, will deliver the key note address at the summit, confirming that the celebrated academic had accepted to attend the occasion to give his rich knowledge of economy to the state and the country at large.
He explained that Collier "will bring to the summit a rich and in depth knowledge of Nigeria's situation and surely will have policy suggestions and outlook that will benefit Lagos state as an emerging model Megacity state in Africa with vast investment opportunities".
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