Lagos State in Nigeria has emerged as the fifth largest economy in Africa, consequent upon which, Governor Akinwunmi Ambode, disclosed that his administration is in the process of setting up an Economic Management Team, EMT, comprising distinguished individuals from the private sector and the public sector to manage and improve the feat.
Ambode made the disclosure when he received a delegation from the Nigerian-British Chamber of Commerce on courtesy visit, disclosing that the emergence of Lagos as Africa’s fifth largest economy was very instructive.
He promised that his government would explore synergy with private sector with the view to catapult the State into a true global city-state in the true sense of the word.
Ambode said: “Our duty is to create an enabling environment and fuse all that together. “I think that synergy can just catapult Lagos into that global city-state that we want it to be.”
His words: “Because our economy is in the hands of the private sector and we are willing to allow them drive it, that is why we have decided to formulate policies and decisions that will make the private sector to thrive in this State and that is why in the last 18 months, we have been running this administration on a tripod of security, job opportunities and infrastructure development.”
Explaining the tripod, Ambode said his administration believed that when the people and investors are well secured, businesses will thrive and more people would be employed, while the resources generated in terms of Internally Generated Revenue, IGR, would be deployed to provide infrastructure for the people.
The International Monetary Fund, IMF, had, in its recent Economic Outlook Report projected Nigeria as the biggest economy in Africa ahead of South Africa and Egypt.