Lagos gets N92.9billion from foreign direct investment
By Lekan Sanni,
Correspondent,
Lagos
Lagos State may
have been the highest beneficiary of the more than $674 million (N92.9 billion)
foreign Direct Investment Inflow into the country in 2003.
This disclosure
came on the heel of a call by the State Deputy Governor, Mr. Olufemi Pedro,
that blacks in the Diaspora should show greater commitment to the development
of the economy of African countries through serious and consistent investment.
Although, actual
figure of what came to Lagos was not forthcoming, but the President of the
Nigeria - American Chamber of Commerce, Chief Olusola Dada, disclosed
that a greater percentage of the 224 companies that came to the country during
this period based their operation in Lagos.
He spoke at an
interactive session, which the African World Expo Delegation from the United
States had with the Lagos State Government at the weekend.
Dada said the state
government under the leadership of Governor Bola Tinubu has been able to
provide an enabling environment for the efficient operation of the private
sector.
Calling on the
delegation to make maximum benefit of the visit through massive investment in
the state, the president said the African Growth and Opportunity Act AGOA)
“has proved that trade and investments are necessary complements to
foreign aid and the fostering of development and self-sufficiency.”
Pedro, in his
speech spoke of the preparedness of the state government to provide the
enabling environment for foreign investment to grow.
According to him,
the various reports and information on Nigeria obtained on the Internet are not
wholly representative of the country, noting that there were many genuine Nigerians
who could be linked through the state.
Calling on the
delegation to tap into the resources available in the state, Pedro regretted
that similar visit in the past did not yield the desired result with Africa not
benefiting from her genetical link to blacks all over the world.
Also speaking, leader of the delegation, Mrs. Carolyn
Kilpatrick, said members were committed to investing in the economy of Lagos,
especially in the area of technology transfer.
