Lagos Deputy Governor Calls for Stronger Private Sector Involvement in State Development

Lagos State’s Deputy Governor, Dr. Kadri Obafemi Hamzat, is urging for stronger collaboration between the public and private sectors to boost the state’s development. He made this appeal during an investment management event on Lagos Island.

Hamzat highlighted that governing a state is more complicated than running a private business, as the government must serve everyone. He believes that enhancing cooperation between the public and private sectors is crucial for sustainable development in Lagos.

He compared Lagos’ budget of about N4.4 trillion to New York City’s budget of $109 billion, stressing the need for ongoing investment and resource expansion to improve infrastructure. Hamzat pointed to the state’s achievements in financial management and infrastructure projects, such as rail development, as proof of its capability to handle complex initiatives.

On waste management, he reaffirmed the government’s commitment to reforming the sector by improving funding and support for private waste collection companies. He mentioned plans to allow these companies to receive payments directly from the government, which would help streamline operations.

Victor Aluyi, Co-Managing Partner of Aztran, echoed Hamzat’s call for deeper collaboration, stating that government funds alone cannot meet the growing infrastructure needs of Lagos. He emphasized the importance of private investment in areas like transportation, housing, and waste management.

Aluyi also noted that Lagos has a Gross Domestic Product of $260 billion, making it Africa’s second-largest city economy. He called for consistent policies and transparency to attract more private capital for infrastructure projects.

Olayemi Agbe-Davies, another speaker at the event, stressed that improving revenue generation and simplifying the tax system would enhance Lagos’ investment climate. He expressed hope that the discussions would provide investors with valuable insights into future opportunities and the development goals of the upcoming 2027 election.