Lagos State is targeting $100 billion in its 30-year development plan expected to be launched in the upcoming 2022 Ehingbeti Summit, scheduled to hold between 11th and 12th of October, 2022.
The 30-year development plan tagged LSDP 2052, was conducted over five phases between March 2021 to December 2022 and has over 400 initiatives across different metrics to drive exclusivity of every citizen in the state.
Speaking y at a private-public partnership pre-Ehingbeti stakeholders engagement on building a sustainable future for a greater Lagos, in Lagos at the weekend, the state governor, Mr. Babajide Sanwo-Olu, said the government would continue to pursue policies that are inclusive and equitable to all over the development plan period.
He maintained that, his administration remained committed to taking appropriate lessons from this summit through implementation of its resolutions, and that, this edition will not be an exception.
“It is important to mention that past summits gave birth to initiatives, such as, the Lagos State Employment Trust Fund, which have continued to support young people with innovative ideas, to start and grow their businesses; the Lagos State Security Trust Fund through which security agencies are being assisted to be more effective in securing lives and property; design and construction/reconstruction of key road infrastructure with special consideration for the provision of pedestrian walkways, among others,” he stressed.
This annual summit was initiated in 2000 during the tenure of former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, to provide opportunity for the private sector, organisations, individuals and all stakeholders in the development of Lagos, be involved in designing the pathways to attaining the Lagos of our collective dream and desire.
“The Ehingbeti Summit, which is private sector driven, has, to a very large extent, achieved its purpose through the meticulous and faithful adoption and implementation of innovative ideas and suggestions that have emanated from robust discussions and brainstorming sessions led by highly knowledgeable and experienced personalities both from Nigeria and overseas,” he pointed out.
Represented by his deputy, Dr. Kadri Obafemi Hamzat, he acknowledged that, governance is not a one man show because no government, irrespective of the quality of its officials, can claim monopoly of knowledge or ideas.
“Hence the summit is a clear admission of this fact and therefore presents the opportunity for everyone to get involved. Elingben is now firmly established as a credible forum for the stimulation of economic ideas and the emergence of the most vibrant, diverse, competitive and inclusive Lagos,” he noted.
On the development plan, Sanwo-Olu stressed that the “forum is organised to sensitise key stakeholders on this year’s Summit and more importantly seek your input on the proposed 30 years Lagos Development Plan which will be formally presented at the Summit for deliberation and final adoption for implementation.”
Giving his opening remarks, the president and chairman, Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, said the engagement will institutionalise the developmental landscape in the state through the private-public state partnership that gets all parties involved.
He noted that the collaboration between the institute and the Lagos State government epitomises a partnership that works as the institute has enjoyed a very cordial relationship with the Lagos State government under the able leadership of Governor Babajide Sanwo-Olu.
Making his presentation on the LSDP2052, Olayinka Majekodunmi of Boston consulting Group, said the plan has inputs from experts, citizens engagement, global benchmark and focus areas that would drive growth and ensure that governance is responsive.
He maintained that the plan has four strategic dimensions namely; thriving economy, human centric, modern infrastructure, effective governance and 20 focus areas.
“The plan has over 400 initiatives across different metrics that will drive the GDP of Lagos to about $80 to $100 billion with the period of the plan,” he stressed.
Giving a historical perspective of the Ehingbeti, the partner Head, West Africa Strategy Team, PWC and the Co-Chair Ehingbeti Summit 2022, Mrs. Mary Iwelumo, said LES was borne out of the strong desire by the LASG to accelerate economic growth and development of Lagos.
To her, “The governor introduce the Lagos State Development Plan (LSDP 2052) -a frame of Lagos’ ambition towards a Social, Economic and Financial stakeholders-high-power hub that is Safe, Secure, Functional and Productive-to kick-off of the communication process and engage with speakers, thought leaders and the audience on the focus areas of the LSDP 2052.”
