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Lagos accounts for 65% non- oil GDP- Fasola

12 November 2012, 09:12

Lagos - Gov. Babatunde Fashola of Lagos State on Sunday said the state accounted for over 65 per cent of nation’s non-oil Gross Domestic Product.

Fashola disclosed this at the closing ceremony of the 2012 Lagos International Trade Fair.

The theme of the fair was: “Promoting Trade for Sustainable Economic Transformation”.

Fashola,  who was represented by the Deputy Governor,  Mrs Adejoke Adefulire,  said that in spite of its small size, Lagos State also accounted for over 60 per cent of the country’s value added manufacturing.

“The state has been projected to be Africa’s largest mega city and the world’s third largest by 2015 according to UN Habitat report.

According to him, Lagos State will continue to be the industrial, financial, telecommunications, transportation and commercial hub of the country.

He urged the Lagos State Chamber of Commerce and Industry (LCCI) to help in planning entrepreneurship programmes for “Okada riders” as the state’s traffic law banning them had come to stay.

Fashola said that the state government was willing to support the private sector in this regard.

He said that the state had a micro finance scheme where the “okada riders” could easily access funds to set up genuine businesses.

The governor said that the state had been organising the “okada riders” into cooperative societies to ensure that they could access funds to engage in other businesses of their choice.

 Mr Goodie Ibru, President of LCCI, in his closing address, urged all tiers of government to continue to address the impediments to private sector development.

He said that this was in the areas of infrastructure, security, quality of institutions, funding and economic governance.

The LCCI President apologised for the inconveniences experienced by exhibitors and visitors and promised that there would be improvement in the 2013 trade fair.



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