The Lagos State Governor, Babajide Sanwo-Olu opined that Nigeria’s bilateral relations with Germany will boost Foreign Direct Investments (FDIs), deepen domestic production and strengthen the non-oil sector.
Sanwo-Olu made the remarks at the German-Nigerian Business Conference organized by the German Industry and Commerce in Nigeria, and the Nigerian-German Chamber of Commerce on Monday in Lagos.
The governor, represented by his deputy, Dr Obafemi Hamzat said, “as a leading economy in Europe, Nigeria has a lot of lessons to learn from Germany’s industrialisation trajectory.
“We seek to reverse our infrastructural deficit, build capacity across various production value-chains and develop our economy.
“Our administration has been very deliberate about implementing strategic policies and intentional in our goal to attract investments into the state.”
He noted that the state government’s objective, through the T.H.E.M.E.S Plus Development Agenda, was to foster an enabling environment by initiating and implementing policies that promote ease of doing business.
Gov. Sanwo-Olu affirmed that the state government would continue to support business success through sustainable practices and an inclusive economy.
He said that Lagos remained a top receiving state for both FDIs and domestic investments.
The Governor stressed that Lagos was not only open and ready for business, but prepared to provide all the necessary policy support that would strengthen ease of doing business.
In his remarks, Olaf Scholz, Federal Chancellor, Republic of Germany, said Germany was keen on expanding all existing bilateral relationships with Nigeria.
Scholz said they were ready to partner with Lagos State in the fields of energy and climate.
He, however, stressed the need for a stable, reliable and environmentally friendly power sector for economic growth and development.
Scholz promised to join hands in changing the stereotypes about Nigeria.