Ehingbeti: Okonjo-iweala, Mo Ibrahim want Lagos to prioritise job creation, infrastructure

… as state needs proper data mining, management

The high rate of unemployment, inadequate power supply and infrastructure deficit received attention on Tuesday at the eighth edition of Ehingbeti as Ngozi Okonjo-iweala, the just elected director-general of the World Trade Organisation (WTO), and other speakers advised the lag os state government to address these challenges to have the “Lagos of our dream.”

Ehingbeti is an ingenuous socio-economic apparatus that has contributed significantly to the evolution of Lagos State into a major economy in sub-saharan Africa, and an admirable megacity, with expanding potentialities.

The summit, hosted by successive administrations in the state since the beginning of democracy in 1999, has consistently redefined the dynamics of public-private sector collaboration for development across social and economic indices in the state.

According to Okonjo-Iweala, successful Lagos is the one that creates modern jobs for its citizens, as Lagos, Nigeria and Africa should begin to embrace industrial is at ion.

Given that Africa imports more than 90 percent of pharmaceutical products used on the continent, she sees this as a big gap and urges Africa to embark on manufacturing taking advantage of the 1.2 billion market population, equivalent to China or India.

“One the most important things a successful africa should look at is the demographics of Africa. When you have 60 percent of your population that is 30 years old and younger, then you have to worry about job creation. So for me, a successful Africa is Africa that is able to create jobs for its citizens and when I say jobs, I mean decent jobs,” Okonjo-iweala said.

“In Lagos State, the issue of young people who are gainfully employed is important because if they are not, that would lead to so much dislocation and unrest,” she said.

The African Continental Free Trade Area (AFCFTA) is aiming at a common market and Nigeria and Lagos should take advantage of such a big market to make Nigeria not just a consumer sector but a big manufacturing centre that sends goods to other countries,” she said.

The new WTO boss sees digital, artificial intelligence driving the future of Lagos economy and urges the state and Africa to get on board or be left behind.

Speaking at the event, Mo Ibrahim, founder and chair of the Mo ibrahim foundation, said the state needed to create a healthy environment for investors.

Ibrahim, who established the Mo Ibrahim Foundation in 2006 to support good governance and exceptional leadership in Africa, wants Lagos to focus on transportation, waste management, security and bureaucracy.

“We hope to see Africa able to feed itself and others. We should be able to export food. We hope to see a digital economy. We need to deal with gender and ethnic issues,” he said.

Speaking on the topic, “strengthening Institutions,” Obafemi Hamzat, the state deputy governor, said the government cannot function properly without the people, expressing concerns over proper data mining and management to drive inclusive governance.

He noted that state had been caught in the web with the payment of West African Examination Council (WAEC) fees for students in public institutions due to influx of other students from neighbouring states.

According to Hamzat, this has affected proper data harnessing for proper planning for impactful projects on the people and driving democratic dividends in the state.

“The people must be part of the solution. We’ve been struggling with data to drive inclusive governance and our federal system affects our plans because there is no restriction on free movements, which affects planning accordingly.

“You cannot tell people to obtain visas before they transit from one state to the other, if Lagos is offering free tuition for WAEC,” he said.

Adesola Adeduntan, managing director/ceo, First Bank of Nigeria, speaking during a plenary session at the summit, themed, ‘For a Greater Lagos: Setting the Tone for the Next Decade,’ noted that it was important to provide an enabling business environment for the Micro, Small and Medium enterprises (MSME), who are a critical and vital part of the growth and development of any economy, adding that they represent a path to success.

The MSMES require adequate funding and business friendly policies, which will enable them thrive and significantly accelerate economic growth, Adeduntan said.

Similarly, Oscar Onyema, CEO, NSE, noted that Lagos, although a state, could position itself as an economic power-house, but would however need to adopt a businessfriendly culture that would help businesses thrive in line with global business practises.

“Lagos State is the prime investment destination in Nigeria, but to make Lagos the investment destination of Africa requires more strategic policy initiatives and reforms that achieve investment attractiveness,” Onyema said.