Tuesday, February 27Inside Business Africa

Lagos pledges investment friendly policies, initiatives

The Lagos State Government at the weekend, said it would continue to guarantee policies, programmes and initiatives that will attract investments and create the right environment for these investments to thrive and create economic value.

Governor Babajide Sanwo-olu, who disclosed this on Friday, at the unveiling of several investments across key economic sectors, sited in the emerging Alaro City, in the Lekki Free Trade Zone, said the momentous event affirm the status of Lagos as one of the leading and preferred investment destinations in Africa.

The Governor, represented by the Permanent Secretary, Ministry of Commerce, Dr. Mrs. Bola Balogun, said experience has shown clearly that there is no limit to value creation when government and private sector play their respective roles, adding that Lagos State will continue to be fully alive to all its responsibilities.

At the inauguration of Ariel Food Factory, as well as the ground-breaking ceremony of a 500-unit middle-income residential project in Alaro City, Epe, Sanwo-olu thanked the management and staff of Rendeavour, Ariel Foods FZE, and all the new companies for their investments in the economy of Lagos, and by extension, Nigeria.

He said: “I am pleased to witness the start of operations of Ariel Foods, which has built a remarkable facility in less than one year. I am equally pleased to welcome Universal Homes, HMD Africa, Sana Industries, Loatsad, Kenol, and ASB Valiant to the Lekki Free Zone.

“Ariel Foods, one of the leading suppliers of ready-to-use therapeutic foods (RUTF) to UNICEF, and the World Food Programme, globally, saw a fantastic opportunity to add value by domesticating their production here in Nigeria, for the local and export markets.

“The confidence of international and Nigerian investors is a testament to Alaro City as the location of choice for businesses in the Lekki Free Zone, and to the ease of doing business in Lagos State.”

Earlier, Chairman of Rendeavour, Frank Mosier, said: “As a master developer, Rendeavour invests more than $250 million in each project, creating the infrastructure and living and working spaces that will help sustain and accelerate Africa’s economic growth, meet the aspirations of Africa’s burgeoning middle classes, and serve as a catalyst for further urban development.”

For the Chairman of Ariel Foods, Dhiren Chandaria, “Ariel Foods is proud to expand its production to Nigeria, and to play a major role in food and population security in West Africa, through the production of ready-to-use therapeutic foods to feed malnourished children and to supplement the diets of persons with special nutrition requirements.”Also the Executive Director, Universal Homes, John Latham, said: “Universal Homes is bringing its high-quality, accessibly priced apartments to Nigeria, in partnership with Alaro City.”

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