Lagos – Gov. Akinwunmi Ambode of Lagos State on Tuesday urged investors not to lose faith in the nation’s economy.
Ambode made the appeal at the opening of the Maryland Mall in Lagos.
He was represented at the eveny by Mr Benjamin Olabinjo, his Special Adviser on Commerce, Industry and Cooperatives.
The governor said at the state level, his administration would continue to support and provide an investment-friendly environment to boost the economy.
“The promotion of commerce and industry as well as support for the private sector will surely drive the social economy by creating wealth and jobs for the people of Lagos.
“This is why as a government, we will continue to work with stakeholders and support investors who make bold moves such as this to improve our economy,” he said.
Ambode commended promoters of the mall, urging other investors to utilise the opportunities offered by the nation.
In her remarks, Mrs Sola David-Borha, the Chief Executive Officer, Stanbic IBTC Holdings, said there was need for the private sector to complement government’s efforts in commerce to meet the needs of the urban population.
“Research has shown that by 2050, 50 per cent of people in Nigeria will live in urban cities and the government resources cannot cater for the needs of this urban population.
“The private sector should embrace the financing of urban development as a discipline by coming up with innovative ideas to service needs of the people.
“A testimony is this Maryland Mall; it is not just important to Lagos State, but to the nation.
“It will drive commerce, create jobs as well as grow the nation’s economy,” she said.
Dr Nike Akande, the President, Lagos Chamber of Commerce and Industry, also said at the event that the mall represented resilience, vision, innovation and faith in the Nigerian economy.
Akande said that the opening of the mall would boost the retail sector which had taken strong position in the economy.
According to her, in spite of the current economic challenges facing the economy, milestones are being recorded to show that after difficulties, prosperity will come and the economy will be better for all.
Also, Mr Olutola Mobolurin, the Chairman of Purple Capital Ltd., the promoter of the Maryland Mall, said that the vision was to improve the retail and finance business sector.
Mobolurin commended the Lagos State Government for its support since February 2014 when construction work commenced.
“Lagos is gradually becoming a mega city and we want to assist the government by introducing special modern retail culture to boost enterprise and business growth in the state,” he said. (NAN)