LCCI says Ogun must invest in housing to attract more investments
Having considered the proximity of Ogun to Lagos with its several borders closely connected to several suburbs in Lagos, coupled with the overcrowding nature of Lagos, the Lagos Chamber of Commerce and Industry (LCCI) has requested Ogun state government to invest more in housing in order to attract investments and accommodate investors as well as expatriates.
This advice was coming on the heels of the increasing influx of investments to Ogun state having been dubbed as the largest investment hub of the country at present and LCCI is of the opinion that there must be investment in the critical infrastructure such as roads and housing to accommodate more investors and expatriates who have either invested or planning to make investment in the state’s economy.
Speaking at Ogun State Day held at 2019 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI) on Thursday, Babatunde Ruwase, president of LCCI, noted that it was time for Ogun State to attract more investments to the state by providing befitting housing facilities to convince more people to reside in Ogun in order to increase taxes based on residency rule.
Ruwase stated that Ogun stands good chance of making more revenue from the exodus of Lagos population and more revenue could be made from the outpouring if the critical infrastructure such as housing facilities, roads and others were provided by the Ogun state government in order to domicile the rising population in Ogun State.
Ruwase, who explained that there is a huge deficit of housing and the nearest state to Lagos is Ogun, said: “We have too many people in Lagos and if Ogun can provide accommodation for our people, we won’t mind, at least, Lagos is over populated and housing is very key.”
Responding , Governor Dapo Abiodun of Ogun State said there were systematic and strategic efforts to offer the desired enabling economic environment for the businesses to thrive, saying “Government of Ogun State has resolved to provide necessary infrastructure and conducive ambience for industries and businesses to thrive.”
Governor Abiodun, who was represented by Noimot Salako-oyedele, deputy governor and Sola Arobieke, consultant to the governor on Commerce and Industry, added, “Our administration recently approved the establishment of Investment Promotion Agency which will provide a truly onestop- shop for investors who are interested in investing in our state.
“We have also established Ogun State Enterprise Development Agency which is to strengthen the Micro, Small and Medium Enterprises ( MSMES) and boost their capacities as major producers of raw materials and off-takers of the big industries as distributors, wholesalers and retailers.
“The Agency will also assist in the facilitation of all available intervention funds from the Federal Government through the Central Bank of Nigeria and monitor compliance with all requirements in order to achieve its objectives. So, as these MSMES thrive, big industries will flourish.
“In the same direction, we have also embarked on massive reconstruction of rural roads and rehabilitation of alternative roads linking major roads in the state to aid movement of goods and services across the state. It is our belief that just as trade and investment are important to economic growth and development, good infrastructural facilities remain key to boosting trade and investment.”