Lagos made $43bn in one year!

Lagos State government, through the Office of Overseas Affairs and Investment (Lagos Global), has declared that it has received approximately $43billion investment proposition within one year
of inception. Special Adviser, Office of Overseas Affairs and Investment, Professor Ademola Abass, disclosed this on Thursday at the Bagauda Kaltho Press Centre, Alausa, Ikeja during the 2016 Ministerial Press Briefing as part of activities marking the one year anniversary of Governor Akinwunmi Ambode led administration in the state.
He added that the state government had approved a good number of investment proposals out of the 139 that were at various stages of consideration at the Office of Overseas Affairs and Investment.
Abass, while revealing that the state approved investment proposals covering six sectors, namely; environment, infrastructure, health, manufacturing, real estate and transportation, observed that since the setting up of Lagos Global, it had been working to ensure that investors who desired to invest in Lagos enjoyed a seamless and hurdle-free experience.
“By streamlining its internal working processes and adopting a project proposal template to eliminate difficulties associated with multi-agency handling of investments, Lagos Global has set the stage for a first-class service delivery to investors, right from
the point of initial enquiry down to the setting up and running of businesses in Lagos State,” he said.
Meanwhile, Lagos, easily the most populous and most prosperous state in the country has been seen to lead the other 35 states and Abuja with a total of 19.04 million active lines by the end of March, 2016.
A report just released by the National Bureau of Statistics (NBS) presenting the total number of active voice and internet subscribers at the end of the first quarter 2016 disaggregated by states indicated that by end March, which also marked the end of first quarter, the number of active voice subscriptions stood at 148.74 million.
This report, which is a precursor to a more comprehensive report and analysis of the telecommunications sector to be released shortly noted that at the end of period under review, MTN
accounted for the largest share of 57.04 million (or 38 per cent of total), followed by Glo with 34.60 million subscribers (or 23.2 per cent of total) and Airtel with 33.86 million (22.7 per cent).