Press Releases

Africa Now Investment Haven For The World - Fashola

Mar 17, 2010 - Lagos State Governor, Mr. Babatunde Fashola (SAN), Wednesday described Africa as the investment haven for the world today saying all the problems currently besetting the globe could find their solutions in the Continent.

Governor Fashola, who spoke at the Lagos House, Marina while playing host to a Trade Delegation from Finland led by that country’s Minister of Foreign Trade and Development, Mr. Paavo Vayrynen, pointed out that many of the resources that the world needs and which sustain humanity abound in the Continent.

“I think that more than ever before, the solution to the problems of the world probably lies more in Africa than many other regions”, the Governor said adding that even the Asians towards whose region most of the world look for solution are coming to the Continent.

Listing such available resources to include gold, oil, cocoa, rubber, timber and wood among others, the Governor commended the visitors for choosing to come to Lagos to seek partnership saying Lagos remains the largest black population in Africa.

He expressed delight that the State Government is making progress in its efforts to attract foreign investments into the State, noting that the current delegation was about the third or fourth that have visited the State in the last five months.

Lagos State Government, Governor Fashola said, has been doing business with Scandinavian countries, particularly Finland, for a long time pointing out that in the area of waste management, the Government has been very busy with some Finish manufacturers helping with equipment and expertise in managing the State’s landfill sites.

He said on learning of the visit of the delegation, Government brought together a small team including members of the State’s Waste Management Authority (LAWMA) adding that the team would interact with the Finish delegation with the purpose of exploring other areas of possible partnership between the two countries.

Describing the visit as timely, Governor Fashola said the delegation would be better served by the State’s next Economic Summit, the Ehingbeti 2010, slated for between the 20th and 22nd of April, 2010 adding, “I think it will be the best interactive forum for businessmen coming into Nigeria”.

“We have spent quite of a lot of time looking at what the problems were; we have spent time talking to those who have experienced those kinds of problems and we have seen how they solved them and we think that now our market is ready for the whole world. That is why we are holding this Investors’ Summit in very diverse sections of our economy”, the Governor said.

Saying that the visit marks a new beginning for the Nigerian – Finish relationship, Governor Fashola assured the delegation that democracy in Nigeria has taken root and would survive all the teething problems associated with new and emerging democracies all over the world.

“Our democracy is getting stronger. It is ten years old, but I think that we are beginning to come to terms with the challenges of democracy – conflict management, power sharing, responsibilities, team work, compromise – for the purpose of achieving the utilitarian value of the democratic covenant which is the greatest good for the greatest number of people” Governor Fashola said adding that the Nigerian democratic model will eventually become the model for the rest of the Continent of Africa.

Earlier in his opening remarks, the Finish Minister of Foreign Trade and Development, Mr. Paavo Vayrynen said the purpose of the visit was to explore areas of partnership with Lagos State saying his country is ready to assist Lagos with her technology especially in the area of infrastructure development.

The Minister, who was also accompanied by the Finnish Ambassador to Nigeria, Ms. Anneli Vuorinen, lamented that the foreign media always portray Nigeria in a bad light to the outside world, adding that Nigeria’s positive possibilities and achievements are not mentioned by those foreign media.

“During this visit, we have got useful information about Nigeria. I would say that the reputation of Nigeria in the world is not the best possible. You are better than your reputation” the Minster said.

Describing Lagos as the business centre of Nigeria and Africa, Vayrynen said the Finnish companies and businessmen are interested in investing in energy and would partner with their Nigerian counterparts to assist especially in the areas of renewable energy.

The Minister commended Governor Fashola for the achievements of his administration in the last two and half years saying, “Your reputation has spread all over Finland as well and we wish you good-luck in your future endeavours”.

Also present at the occasion were the Commissioner for Home Affairs and Culture, Mr. Tunde Balogun, his Housing counterpart, Mr. Dele Onobokun, Special Adviser to the Governor on Trade and Commerce, Mrs. Sola Oworu, the Nigerian Ambassador to Finland, Mr. Godswork Aghali, the Senior Special Assistant on Foreign Relations, Ms Toyin Caxton-Martins and other top government functionaries.