NEWS

Ambode seeks British investment

The Lagos State Governor, Akinwunmi Ambode, on Wednesday said the state remained a choice destination for investors from the United Kingdom.

The governor, who stated this while receiving the British Prime Minister, Theresa May, at the Presidential Wing of the Murtala Muhammed International Airport at about 4.0pm, added that the relationship between Britain and Nigeria dated back to 19th Century.

Ambode was accompanied by the state Deputy Governor, Dr Oluranti Adebule; the Secretary to the State Government, Mr Tunji Bello; and the Special Adviser, Overseas Affairs and Investment, Prof. Ademola Abass.

The governor said much of Nigerian education, cultural and political systems was influenced by Britain, adding that there were more Nigerians living in the UK than elsewhere in the world outside Nigeria.

Ambode said, “Lagos remains a place of choice for British investors, especially given the stability in the government, the size of Lagos economy and population, and the focus of our administration on the rule of law and justice sector reform.

“All of these have not only enhanced the ease of doing business, but also ensured a greater protection of people and investment in Lagos State.”

The governor expressed optimism in the strengthening of the relationship between Britain and Lagos and avowed that his administration would do whatever it takes to achieve that goal.

In her response, the British Prime Minister said Lagos was of commercial importance to Nigeria.

She added that a stable government in Lagos had given investors convidence in the state.

May said there was availability of export credit finance to the tune of £750m, as well as a considerable development finance, which Lagos State could look towards.

She spoke about the role that Britain could play in the development of the technology industry in Lagos given the particular capability of the UK in that area.

The PM disclosed that she brought as part of her delegation, an expert in Fintech to explore the opportunity in the area that Lagos could benefit from.

The British Prime Minister also noted the special strength of the London City as a financial hub that could be of considerable importance to Lagos State, just as she emphasised sustainability and growth in Britain-Lagos relationship.

She expressed the desire of the British government to assist Lagos in the development of her creative industry.

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