Mr. Akinwunmi Ambode, the Lagos State governor, on Friday emphasised the leadership status of the state as the most attractive location financially and socially for investment in Africa.
Governor Ambode spoke in Lagos at the grand opening of CFAO Yamaha Showroom and Assembly Plant, which has the capacity to produce 70, 000 motorbikes annually.
The governor reiterated the commitment of his administration towards putting in place policies to attract investments and conducive atmosphere for businesses to thrive.
He said with a population in excess of 21 million, a significant proportion of which comprises the mid-class with strong purchasing powers, he was convinced that the state has what every investor desires in investing in any city.
Ambode said that besides the fact that Lagos accounts for 60 per cent of Nigeria’s industrial capacity, the state also attracts between 70 to 80 per cent of $6 billion annual Foreign Direct Investment (DFI) into Nigeria, adding that measures had been taken to increase the figure by 50 per cent.
The governor lauded the collaboration between CFAO of France and Yamaha of Japan to bring about the joint venture in Lagos Nigeria, saying the partnership was good news for Lagos economy and a boost to the efforts of his administration in bringing investment to the state.
“The significance of locating this Assembly Plant in Lagos is very clear. Lagos remains the most attractive location financially and socially for investment in Africa. I have come to assure you that you have made the right decision to locate your business here,” he said.
He said the take-off of the CFAO Yamaha Plant in Lagos brings the number of assembly plants located in Lagos to over 10, adding that the state still had the capacity to accommodate more plants.
Ambode recalled how his administration, upon inception, prioritised the issue of making Lagos the first choice destination for foreign investment.
While stating that the state is open for business and serious investors, Ambode assured investors and would-be investors that government would continue to invest in security, job opportunity and infrastructure, which are the tripod upon which his administration was built.
He said: “We will therefore continue to invest in the critical infrastructure and security to guaranty safety and good return on investment. As a government, we will continue to explore ways to create an enabling environment to make your business thrive. We are committed to introducing new incentives for businesses in Lagos to enable them grow, support the society and take more of our youths off the street.
“The ease of doing business is of concern to us and as a result, we are working to improve the indices of doing business in Lagos while we continue in our commitment to carry out judicial and security sector reforms.”
Mr. Gbenga Oyebode, Chairman of CFAO Yamaha Motor Nigeria Limited, thanked Ambode for making out time not only to personally attend the event, but also arriving on time, saying the development was an eloquent testimony of the Governor’s commitment to encouraging investment in the state.
Also, Mr. Olivier Levigne, Managing Director of the company, said the vision of the firm is to be the grand company and a great organisation that is an open enterprise and a leader in its chosen field.