Governor
Akinwunmi Ambode of Lagos State yesterday said Africa could only experience
sustainable growth and development with strong, vibrant and dynamic
institutions guided by rule of law and global best practices.
The
governor, who spoke at the opening of the Nigerian Bar Association 2017 Annual
Conference with the theme, “Africa Business: Penetrating through institution
building”, maintained that what separates the developing and developed
economies of the world were time-testing institutional frameworks.
According to
Ambode, these key elements are also critical to building trust and confidence
of foreign investors.
His words:
“I will also ask that, as you consider the consolidation of our institutions,
please give a thought to issues concerning the ease of doing business in
Nigeria and Africa. There is a need to streamline our policies to make for ease
of investments across the continent.
“This has
been one of our key commitments in the past two years. We have implemented
reforms in key institutions such as the public service, land administration,
transportation, justice sector, establishment of the office of Overseas Affairs
and Investment as well as the Employment Trust Fund.
He
continued: “These efforts are yielding some positive outcomes as evidenced by
the fast improving status of Lagos State as one of the top preferred
destinations for investment in Africa. But there is still a lot more to be
done.”
The governor
pledged his commitment to raising the bar in the state as well as partnering
with progressive institutions to aid its growth aspirations.
“The
Nigerian Bar Association is one of such institutions. We are confident that
with your strategic support, we will obtain favourable legislation and legal
interpretations to support our economic growth and further open up the state to
investment,” he appealed.
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