Press Releases

Global Financial Crises: Fashola Charges Govt To Attract Capital With Investor Friendly Environment

Oct 3, 2008 - Lagos State Governor, Mr. Babatunde Fashola (SAN) on Friday charged the government to put in place an environment that would enable business and investments thrive and attract some of the capital that may take flight from foreign economies that are presently facing global economic crisis.

Governor Fashola who spoke in an interview at the Murtala Mohammed International Airport, Ikeja with some newsmen after his arrival from the lesser Hajj in Saudi Arabia added that continuous infrastructure development, security, sustenance to law and order and an investment friendly environment are some the necessities that will make such capital come this way.

He added that while there may be some reduction to Africa now in terms of donations and aides as well as what African countries and communities will get because of the crisis, what the African continent need now is partnership and development.

Said he: “Development can only stand if we take the initiative. This is an opportune time for Africa. It is also an opportune time for Nigeria to do the right thing”.

Governor Fashola reiterated that while the global crisis has brought about a credit cash crunch particularly in the United States, its impact would be felt in Nigeria by companies that are operating on a global economy and may feel some brunt in terms of investment.

He called for vigilance from everyone including the security agencies at the border areas and regulatory agencies in charge of foods to ensure that infants’ formulae infected with Melamine does not find its way into the country.

He added that against the background that Africa has always been a dumping ground for substandard products, every vigilance effort should be intensified at the various spots that lead into the country to ensure that the product does not find its way into the country‘s economy.

On the experiences of the re-opened Third Mainland Bridge, Governor Fashola said it has shown that the state has underused many of its roads and there is the need to make the roads work for the people by moving trading activities away and making them more efficient while improving the interconnectivity that it provides.

He added that Lagosians have also shown the willingness to work hard for what they truly believes in while aspiring to a quality of life that is enviable as demonstrated by the total support given to the government despite the inconvenience that came with the exercise.

Governor Fashola also said the repairs on the bridge have shown what good leadership and statesmanship can provide across the country, adding that the defective parts of the bridge has been there for a long while without the past government at the centre doing anything about it.

He commended the leadership at the Federal level and the partnership that has been forged between it and the State government on the project, stressing that it shows what collaboration and partnership can do for the country.

He pleaded with the people to drive carefully at all times and especially on the Third Mainland Bridge now that normalcy has returned to the road, saying the government does not want to lose any life to road mishaps.

He added that the fact that the repairs on the bridge were effected ahead of schedule is a pointer to the fact that the present administration is one that keeps the promises made to the people.