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Website briu.businessday.ng GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 3

CONTENTS Editor’s Letter

22-24 Lagos as Africa’s 36-37 Interview with 4 financial hub DG of LCCI The fact that AFC has I am not sure that there its head office in Lagos is any state that supports 48-50 5-7 Lagos as a driver affirms that the ‘Centre the security agencies as Cosmopolitan of the Nigerian of Excellence’ is the fi- much as Lagos State... Lagos Economy nancial headquarters of Muda Yusuf Asides Yoruba, Igbo and West Africa A centre of excellence Hausa-Fulani, several and a city of aquatic 38-40 How Lagos other minority tribes have 25-26 Interview with come to see Lagos as their splendour, Lagos con- waterways are Commissioner for home. tinues to grow ... enhancing its Finance regional influence 51 New Lagos 8-11 Trade and Lagos has potential for The reforms in the Lagos Airport Road transport hubs in tax to GDP ratio of waterways have started Lagos 10 per cent with proper to yield fruits ... It comes with a ramp reforms- bridge designed to pro- Lagos State Govern- Akinyemi Ashade ment continues to vide a U-turn from Ajao set up more efficient 41-43 Tourism, Oshodi Eastate .... 27-28 Photos speak -2 transport schemes transport interchange 52-54 Lagos Night that will... Picture reels of Am- Economy bode’s projects across For the first time, Lagos 12-13 Interview with State Promotion Agency the state Lagos today is becoming Commissioner Tourism Bill has been a 24-hour city... for Works and passed... Infrastructure 29-32 Interview with 55-57 Expatriate “We extended the road Governor Ambode 44-45 Interview with Communities in construction from 11 Commissioner for Lagos to 20 roads.. .” All I did was to take Tourism, Arts, Over 76 nationalities are Adebowale Akinsanya the four strategic pillars and Culture which are... present in Lagos, with Gov. Ambode “Ambode’s interventions the Chinese and Indians 14-15 Photos speak -1 in Lagos’ tourism are in- leading the park ... delible-” 33-35 How Lagos Picture reels of Am- Steve Ayorinde bode’s projects across became the 5th 58 Epilogue 46-47 Photos speak -3 the state biggest economy in Africa Ikeja Bus Terminal, Lagosians will forev- 16-18 A glance at Lagos- Ayinke House, LASUTH er remember Ambode, The total IGR of Lagos because his strides have based companies was more than the total with dual listing written his name in IGR of at least 30 states gold! Companies trading at combined... Customs Street grew their profits significant- Lagos Report Project Team ly... Teliat Abiodun Sule Managing Editor/Research 19-21 Fintech hubs: Yvette Uloma Dimiri Michael Ani Manager (Report Design) How Lagos is Head, Audience Engagement Analyst (Editorial) transforming Joshua Bassey Ademola Asunloye Oluwasegun Olakoyenikan Aderemi Ayeni(Digital) into Africa’s Editor, City File Data Analyst(BRIU) Analyst (Editorial) David Ibemere(BRIU) Silicon Valley Lolade Akinmurele Amamchukwu Okafor Temitayo Ayetoto Editor, Companies & Markets Research Analyst Analyst (Editorial) (BRIU) Samuel Adebayo Isaac Esowe Head, Business Development Endurance Okafor Research Analyst(BRIU) (BRIU) Analyst (Editorial) 4 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

EDITOR’S Lagos Report Management Team NOTE Publisher Frank Aigbogun

Editor (BusinessDay) Patrick Atuanya

Deputy Editors(BusinessDay) Government John Osadolor-Abuja Bill Okonedo

Editor (The Lagos Report) can work Teliat Abiodun Sule News Editor Chuks Oluigbo

e owe the inspiration for this Assistant News Editors Whether you are reading this in La- special report to the comment Osa Victor Obayagbona gos or somewhere else, our research- Vincent Nwanma Wof a foreign journalist who was ers and reporters have gone to great visiting Nigeria last December. Weeks later, Executive Director Operations length to showcase tangible dividends those comments led our reporters who were Fabian Akagha of democracy for your delight. travelling with him in the car from the Muri- Executive Director, Strategy, Ambode ran Lagos for four years but tala Mohammed Airport, to produce a story, Innovation & Partnerships- the works captured in this report will Oghenevwoke Ighure titled, “Ambode airport road project is proof ensure that an enduring place is ap- government can work.” General Advert Manager portioned to him in history. The journalist who has visited Nigeria seven Adeola Ajewole times, described what is easily the main gate- Advert Manager- way into Nigeria, as a “creative and purposeful Our foreign Ijeoma Ude use of public resources in a country in dire lack colleague fired our Finance Manager of even the most basic infrastructure.” Emeka Ifeanyi Each time he visited in the past, the scandalous imagination with state of the road formed a good line in many Head, Business Development his comments and Nicole Umoren stories he had written about Nigeria. Not any more, he says. I hope you too will Manager, Conferences & Events Obiora Onyeaso Our foreign colleague fired our imagination be inspired by our with his comments and I hope you too will be Business Development Manager inspired by our reporting of the ground-break- reporting of the (South East, South South) Patrick Ijegbai ing transformation that is underway in Lagos. ground-breaking See the captivating drone photos we have on Circulation Manager offer and read about the transformation of the transformation that John Okpaire life saving Ayinke House located in the well- is underway in Digital Sales Manager run Lagos State University Teaching Hospital Linda Ochogbua and then, Oshodi, our beloved Oshodi that has Lagos. GM, Business Develoment now been turned into a wonder of sort. (North) Bashir Ibrahim Hassan

BusinessDay Media Limited GM, Business Development 6 Point Road, Off Liverpool Road, Apapa GRA Lagos, Nigeria (South) Tel: 01 2799100 Ignatius Chukwu Established: July 2, 2001 GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 5 Lagos as a driver of Nigerian economy

Lagos is so small and yet so big: so small it has the smallest land mass among the 36 states in Nigeria, so big , it has unarguably the largest economy among the states.

eyond population, it is the 5th largest economy in Africa (from the 7th in B2016). Independently, it is larger than the economies of Kenya and Tanzania, the two major economies of the East African region. A centre of ex- cellence and a city of aquatic splendour, Lagos continues to grow with a consis- tent implementation of the Lagos State Development Plan–LSDP–(2012-2025).

The LSDP harmonises the existing high level policy documents with an intention to transform Lagos into a model megaci- ty that is productive, secure, sustainable, functional and safe. The main “pillars” of the vision are economic development, infrastructural development, social de- velopment, security and sustainable environment pillars. The grand aims of the LSDP to actualize the conditions of a mega city including poverty reduction, increased private sector investment, Dangote Refinery, Lekki Free Trade Zone, Lagos increased tax revenue, lessened traffic congestion, improved power supply and and hub effect. Other socio-political advan- cent of Nigeria’s total population. The first environmental consciousness, an en- tages include its status as a former British line advantage of population is that it is rep- hanced primary health care service, and colony and national capital which brought resentative of markets – consumer market. improved educational system and hous- in some form of urban bias and agglomera- As of 2013, a report by McKinsey & Compa- ing environment. tion effects. ny shows that consumption in Lagos is 134 To drive the Nigerian economy, La- percent greater than the country average. gos relies on its key advantages includ- There is strength in numbers This tells why consumer-oriented indus- ing population, transport hubs (air and The population of Lagos widely estimated tries and the retail economy in Lagos and seaports), manufacturing, commercial at 23 million people. This represents 12 per- invariably in Nigeria has been increasing. activities (Oil production and refining) 6 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

These new entrants into the taxation such as tenement rate Big investments come Trade Zone, it is set to be the Lagos consumer markets are is raising the tax revenue in the to Lagos largest refinery in the world visible across industries. Some state. The total PAYE in Lagos with a production capacity of examples over the last 5 years is 34 percent of national total The last five years have seen 650,000 barrels per day. The include Uber and Taxify in the in 2018. In terms of total State significant investment projects complex would include a $10 digital transport; Spectranet IGR, it stands at 64 percent. that would reposition the state billion oil refinery and $2.5 bil- and Smile in the broadband Lagos is an aquatic state beyond being the 5th largest in lion fertilizer factory and a gas internet space; Eat n Go; SI- bounded by the Atlantic Ocean economy in Africa. Sometime pipeline infrastructure. Gen- FAX , Equu Marine, Sea Coach along its coastal line in the west in 2016, Lagos discovered oil erating huge welfare gains by and Green Transport, in water posing different economic and and would join the league of reducing drastically oil import transportation, among others. social advantages. A motley oil producing states to enjoy bill on Nigeria, it would revo- And because production fol- collection of beaches both pri- the 13 percent statutory deri- lutionize the Lagos economy in lows consumption, it implies vate and open allows for tour- vation from crude oil exploit. terms of output, employment concentration of industries. ism and recreational activities. Significant investments have and state revenue expansion. Manufacturing activities in La- It also holds the nation’s busi- been flowing into the state Over 7000 workers are on the gos contribute over 65 percent est and active seaports at the since then; some of the big in- project with about a thousand of the non-oil output whereas Tincan/Wharf ports in Apapa. vestments are the Dangote oil others taking trainings abroad. construction constitutes about refineries, Total Egina FPSO 31 percent (in 2017) – jointly representing about 96 percent of the non-oil sector. Nonetheless, Lagos is experi- encing impressive structural transformation as services sec- tor continues to expand, ac- counting for 79 percent of state GDP whereas non-oil output is 21 percent and agriculture takes 0.08 percent. Lagos State’s GDP is about N37.6 trillion, representing 33.1percent of National GDP as of 2017.

IGR is growing!

Another implication of popu- lation and industrial clusters is tax revenue which is captured at state level as the internal- President Muhammadu Buhari with Governor Akinwunmi Ambode ly generated revenue (IGR). Repositioning itself, Lagos is This infrastructure anchors projects, humongous housing fine-tuning its tax collection the national economy beyond Another already completed projects in high brow areas, technologies and strategies those of the state. project is the Total Egina FPSO and more. while broadening its tax base. It is not only the case that the by LADOL’s shipyard Me- The Dangote oil refinery is a Even where the tax per capita state has an equally busy inter- ga-Construction and Integra- $15 billion dollars investment is low and the tax base is broad, national and local airport; it tion FZE (MCI-FZE) and Sam- expected to commence full it has significant revenue im- claims a significant proportion sung Heavy Industries in a joint operation in 2020. Situated on plication. The introduction of of total business tourism to Ni- venture within the LADOL 2,500 hectares in the Lekki Free hitherto overlooked areas of geria. Free Trade Zone in Lagos. The GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 7

Floating Production Storage and Offloading (FPSO) worth Huge Private Sector Driven Investments In The Last Five Years about $3.3 billion is designed to hold 2.3 million barrels of oil and the largest FPSO in- frastructure by Total. It would produce 200,000 barrels of oil per day. The project would fa- cilitate oil production, boost employment as 77 percent of the man-hours were sourced domestically, and overall eco- nomic activities in the deep Total Egina FPSO ocean subsector. Lekki Free Trade Zone The Lagos rail project is yet an- Digital Transport companies other massive infrastructural Tech Hubs investment currently under- Ibom way. The Lagos Rail Mass Tran- sit (LRMT) network is a major component of the Strategic Transport Master Plan (STMP) 33 34 64 65 designed for the development Lagos State GDP is Total PAYE in La- In terms of total State Over 65 percent of the about N37.6 trillion, gos is 34 percent IGR, it stands at 64 non-oil output whereas of public transport infrastruc- representing 33.1per- of national total in percent. construction constitutes cent of National GDP 2018. about 31 percent (in tures in the State. as of 2017. 2017) As the economic and commer- cial nerve centre, Lagos would require an efficient transport system which decongests the traffic on road network in -ur ban centres. Effectively, the Lagos Urban Rail Network (LURN) outlines an urban rail- based system covering seven major corridors of high com- muter-traffic demand within the metropolitan Lagos and extending to border areas with states like Ogun and Oyo. The LURN consists of seven (7) railway lines linking seven major population and activity centres in the state. The net- work is structured to integrate other existing water transport and BRT routes.

Governor Akinwunmi Ambode (m) with Aliko Dangote, Okechukwu Enelamah, and others 8 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

transport management system for roads, walkways, lay-bys, bridges, flyovers, wa- ter and rails (through channelling and Transportation dredging) which will be a legacy for his successor, albeit, some of these projects hubs in Lagos are long-term. Major road transport hubs in Lagos

Major transport hubs that engage in in- ter-state road commercial bus transport services are Oshodi, Mile 2, Ojota, Iya- na Ipaja, Jibowu/Yaba, Ikeja, Mazamaza, Berger, Oyingbo, Volks—Okoko, Obal- ende and the growing transport hubs in Ajah.

Developments in the taxiing systems

Lagos has several taxi network compa- nies that are metered or have fixed fares. The Lagos yellow buses are regulated by the National Union of Road transport Workers (NURTW). They ply the main roads in all parts of Lagos and fares are based on negotiations. There are also taxis at the airport, but these are painted blue and only take passengers from the airport to their destinations. Digitized disruptions from the likes of Uber and Taxify led the pack of metred taxi companies. New local companies such as Jekalo, Oga taxi, Afro and Smart cab have also joined the space. Recent- ly on-demand tech driven motorcycles New buses ready for deployment companies like GOkada and MAX Oka- agos - being a city of opportu- and make the mega city attain interna- da have taken advantage of technologies nities continues to attract more tional standard among its counterparts. to grow opportunities in Lagos by pro- Lpeople from far and near; this Like his predecessors, under the admin- viding more mobility alternatives. These influx and population growth also put a istration of His Excellency, Governor transport services are accessed through lot of pressure on existing infrastructure Akinwunmi Ambode, major transfor- mobile apps allowing customers to in- including the transportation and mobil- mations in the transportation system teract with riders or drivers from any lo- ity system. In the bid to address these and networks were kick-started in Nige- cation in the state. needs, the Lagos State Government con- ria’s most populous and dynamic com- tinues to set up more efficient transport mercial state—Lagos. His administra- schemes that will cater for the shortfall tion birthed projects to fully integrate GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 9

ment. At the same time, work a major pivotal project of His Logistics companies in Lagos is on-going on the 27-kilo- Excellency, which will link metre Blue Line Rail project up with the Oshodi Trans- Satisfying various transportation needs such as haulage services from Okokomaiko West of port Interchange (OTI). with companies like DIN Logistics, one of the top delivery com- Lagos to Marina in Central The 70,000 square metres Os- panies in Lagos, interstate and cross country (goods and pas- Lagos even as the second hodi transport interchange is senger) road transport services with ABC Transport Plc, Chisco line, the Red Line, will run another mega project of the Transport Nigeria and GIG Group to mention a few. from Marina to Agbado. The Bus Reform Initiative (BRI) Some other logistics companies providing services in freight Lagos Metropolitan Area of the Ambode’s adminis- forwarding, customs clearance, general warehousing, cargo han- Transport Authority (LA- tration. It thrived through a dling and servicing include Ronish Nigeria Limited, Savol West MATA) who is responsible Public Private Partnership Africa Limited and Value Handlers International Limited among for regulation, policy direc- (PPP) initiative which fea- others. tion and infrastructure for tures the consolidation of 13 the network envisions con- interstate parks, a multi-sto- Road infrastructure in Lagos as at structing more lines. rey bus terminals and shop- 2015 ping mall is plunged on 3 key Creating agenda; urban renewal, envi- Classification/Ownership Length (km) Percentage easy access to ronmental regeneration as Nigeria’s largest well as transformation and Federal Road 468 6% airport security. The project which State Road 1,287 17% is to be completed in 2019, The on-going reconstruction is aimed to regenerate Os- Local Government Roads 5,843 77% on the road of the busiest hodi into a world-class Cen- Total Road Network 7,598 100 airport in Nigeria, Murtala tral Business District (CBD) Muhammed Airport (inter- which will consequently in- Rail Network 30 – national and MM2), into a crease the economic value of Source: Lagos Metropolitan Area Transport Authority, 2015 ten-lane road (three major the state. lanes and two-lane service roads on both directions) is Fostering an efficient transport scheme through transformative initiatives

In order to ease mobility and create an enabling environment in the cosmopolitan Lagos, over 200 roads have either been con- structed, rehabilitated or reconstructed across the 20 local gov- ernment areas and 37 local council development areas, including two new roads per LCDA under the Ambode road revolution. His Light-Up Lagos initiative installed street lights in over 1,300 kilometres across the state to aid security.

Lagos Bus Reform Initiative (BRI) New Bus Rapid Transit (BRT)air-conditioned buses were provid- ed for the public to aid transportation; with the establishments of designated bus stops/routes in Lagos. To have an integrated public transportation system, 5000 air-conditioned buses were targeted to replace the yellow commercial buses in preparation Commissioning of LAMATA Office for the take-off of the Bus Reform Initiative (BRI) of the govern- 10 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

The leading port Up scaled well as adjudicate fractious regulations and policies in Nigeria— investment into drivers. The N4.8 billion aid its activities. Markets in Apapa port, government worth equipment purchased Lagos continue to evolve Lagos agencies for to vitalise security were sa- from traditional markets to better outcome loncars, pick-ups, power modern markets like super- There are a number of sea- bikes, trucks, helicopters, markets, superstores, mega ports in Nigeria with the two Lagos State Emergency gun boats, armoured per- storeseven ultra-modern main ports located in Apa- Agency, (LASEMA): was re- sonnel carriers, revolving markets. There are massive pa, Lagos – The Lagos Port positioned into 4 operation- lights, siren and public ad- iconic markets where varied Complex and Tin Can Island al centres at Command & dress system, vehicular radio trading activities take place. Port Complex. These two Control Centre, Alausa, Ike- communicators, handcuffs, Alaba International Market ports account for most of the ja; LASEMA Response Unit uniforms, bullet proof vests, (Ojo) is known as a market goods that come into Nigeria (LRU) Cappa Oshodi; LASE- helmets, kits among others. for electronics, Computer through Lagos. Another is MA Response Unit, Lek- Also, insurance and death Village is the home of ICT the multi-purpose, Deep Sea ki and LASEMA Response benefit schemes for officers (Ikeja), accessories and soft- port at the heart of the La- Unit.LRU was equipped were equally improved. wares, and Ladipo (Mushin) gos Free Trade Zone— Lekki with modern equipment for the biggest auto spare parts Seaport. It is anticipated to on-spot reconnaissance as- Lagos and its market in Lagos. be one of the most modern sessments of emergency in- buzzing trade Talking about a second-hand ports in West Africa. cidents. hubs market where you can get The Lagos State Traffic Man- very cheap apparels popu- Efficient agement Agency (LAST- Trade continues to thrive in larly called “Okirika”, As- commuting on MA) under went reforms, the mega city because his- wani market (Isolo) and Ko- Lagos busiest task force was reinvigorat- torically businesses have tangora (Abule-Egba) take routes ed and mobile courts were been made the same way the pride.Balogun market inaugurated in the state to friendship is made, albeit, is arguably the hub of tex- Another landmark achieve- ensure free flow of traffic as government intervention, tiles, fabrics, office wears ment was the drastic re- duction of journey time in the lekkiepe axis of Lagos (Abraham Adesanya to Lek- ki Admiralty Tollgate) from 2 hours to about 36 minutes. This milestone was attained as a result of the removal of 6 round abouts (Ikate, Chisco, Jakande, Igbo Efon, Chevron and Victoria Garden City) along the Lekki-Epe ex- pressway which consequent- ly saved about N87 billion yearly (N240 million daily) lost to traffic.

Governor Ambode inspecting one of the new buses GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 11 and shoes marketin Lagos ic store. Thriving SME national markets, joint ven- as it sprawls across so many Modern open markets like hubs in Lagos tures and market for inter- streets on Lagos Island. Akorede Int’l modern mar- State mediate and capital goods. Jankara(Adeyinka Oyekan ket, Orisunmibare modern Little wonder there is high Avenue) market is a major market, Abibat Mogaji mod- To foster the growth and hope for the 33rd edition of hub for locally made goods ern market, Iyana Ipaja Mod- development of SMEs with- the LITF from November 1st such as; tie-dyed, beads, pot- ern Market, Awolowo ul- in the state, the Lagos State to 10th 2019. tery, and clothing. tra-modern market, Onitire Government made provi- To reduce the stress of- Another major hub located International modern mar- sions for interest free loans, ten encountered by traders at one of the popular land- ket and others are dominant tax moratoriums and other transporting their wares into marks in Lagos State is the in major trade hubs in the tangible investment incen- the metropolis, construction Mile 12 market (Mile 12) state. tives. Lagos is the hub with began on the new Mile 12 known for wholesale and The magnificent edifices— the largest concentration of market at Imota in Ikorodu. retail foods and vegetable these markets like Oying- micro, small and medium Aside the 3000 newly con- business in Nigeria. The bo ultra-modern (Oying- enterprises (MSMEs) in Ni- structed stall, the 1000-ve- Abattoir meat market (Oko bo) which seats a massive geria. SMEs in Lagos vary in hicle capacity car park and Oba Agege) for meats and open market complex with sizes, assets and by the type other facilities will in turn the trade hub where culture 622 open shops; 102 lock- of businesses they engage in. make the axis a market hub. meets commerce is the Olu- up shops; 48 open offices, Traders remained optimis- wo market (Epe) popularly 134 toilets; six exit gates and Lagos tic that the relocation of the called Epe fish market for 150-car capacity parking lot International Mile 12 market to Imota will large varieties of fishes like on the ground floor, where- Trade Fair drive commerce and invest- crayfish, crocodile, turtle, as, Tejuosho ultra-modern ment into the area. monitor lizard, big snails, market (Yaba) seat massive Held in the commercial game meats among others complex with over 1,692 nerve centre of Nigeria—La- Lagos night are sold. shops on four floors, 342 gos, the 10-day annual event markets and Tunde, a fisherman who in- KeeKlamps, children’s area, continues to revitalise and informal trade herited the business from his food court, bar/lounge, pro- diversify Nigerian economy father said that the market motion courts, advertising beyond oil. In 2015, under As the city’s size expanded, continues to blossom be- space, a massive under- Ambode’s administration, informal life began to flour- cause of the strong bond be- ground parking lot for more saw the premiere interna- ish. Informal settlements tween the fishermen and the than 350 vehicles, 24-hour tional trade fair in West Af- beget informal livelihood fishmongers. With reforma- power supply with standby rica in a different design as it strategies. The economic tive plans, the market prom- generators, police/fire sta- held in 3 different venues for conditions necessitated some ises to promote tourism and tion, waste management, the first time—Tafawa Bale- type of informal nightlife revenue for the community and round-the-clock-secu- wa Square (General Trade and therefore night trading and the government. rity. Fair), Freedom Park(the La- emanated. The phenomenon Asides traditional market, Also with an increasing in- gos Creative Industry Fair) of night trading in urban modern stores as super- ternet penetration and a and the Muson Centre (the Lagos is not negligible as it markets or superstores also more affordable internet ser- Business to Business Exhibi- operates across the state.The competes within the space vices, Lagosians are taking tion) in Lagos State. dynamics of these markets but with fixed prices and el- advantage of its ecommerce Under one umbrella, LITF show that aside from those egant designs. Markets like channels. Lagos currently usually brings together dip- who cannot afford stalls and Shoprite, a South African serves as the headquarters lomatic corps, captains of shops, those who own shops firm, Addide, Spar, Park N of two of the fast growing industry, local companies, also participate in the night Shop, Justrite all engage in ecommerce giants in Africa multinational organisations trading. modern marketing espe- (Konga and Jumia). and foreign investors into cially edible products while the state to seek wider access Cash N Carry is an electron- to domestic markets, inter- 12 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK ‘For the economy to grow, you have to put people to work’

New look of Murtala Muhammed International Airport Road, Lagos

ployed across the state on different projects especially through the on- going airport road project. At dif- ferent times, we have more than six thousand people working. Adebowale Akinsanya, Commissioner for Works and Infrastructure Similarly, we connected Ogun and Lagos at different locations. Before now, a lot of people were avoiding You have been in the min- up other areas to connect different Lagos – Abeokuta express route. istry for almost four years. parts of the state? That formed the Overall, our projects have touched Could you give us an over- basis for some of the works we have people’s lives. Also, the Alimosho view of the policies, ideas done, as you ca n see in some areas to Ojokoro area where we initially and understanding that instead of doing one or two roads, rehabilitated 3 roads, we increased shaped your activities we ended up doing 10 to 20 or 30, the construction from 3 to 11. In or- since assumption of office? and also at the same time creating der to make everyone have a sense jobs. You know for the economy of belonging, we extended the road The fundamental element of any to grow, you have to put people to construction from 11 to 20 roads, government is to improve the work. It is not just for the people to and in all within that axis alone, we quality of life of its citizens and to get the salary, they also have to go are looking at 31 roads. grow the economy. Let’s focus on out and buy things. One of the things the governor said infrastructure and transportation These processes create a multiplier was that when you look at trans- and how it impacts on the society. effect on the economy. portation issues, the roads have to When you’re in traffic, you waste In terms of economies of scale and be integrated with rail and water a lot of time. On that premise, the works created within the last four transportation. Luckily for us, in governor said how do we improve years, I can categorically say that some areas, we have water, so we the travel time for people, and at more than two hundred thousand are building jetties. the same time, how do we open people have been gainfully em- GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 13

look since it is the first thing how best they can use you see when driving out of the facility? the international airport. The drivers will be trained Let’s talk about the and also there will be an Oshodi Interchange orientation for the drivers and the possibility of too. Apart from the Oshodi completing it before transport interchange; there this administration is a depot not too far from hands over power... the interchange, which is where the maintenance of If you know the genesis of the buses will be done. that area, you will under- Right now, we have 820 bus- stand that – Oshodi is the es on ground, but the pro- notorious area for all sorts gram is design to have 5,000 of crimes. In that area, you buses. have 13 bus stops with all the Danfo clusters everywhere. So what is happening So we started with urban re- at the Ayinke House? generation and in a way of defeating the traffic, we inte- The old Ayinke House had New look of Murtala Muhammed International Airport Road, Lagos grated the 13 bus stops into ageing facilities. The new one There are different chalets administration in em- one. All these led to the Os- now has 170 bed spaces. The in the state – Epe is one and barking on such proj- hodi Interchange. construction work is almost Badagry is another. But we ects? completed. Also members of are increasing and upgrad- What led to the construc- NURTW will make staff are being trained. ing that of Badagry to over tion of the aforementioned use of the facility, is a 100 capacity and that will projects especially the inter- there any form of ori- be a seven-storey world class national airport road was to entation session or- chalet. Also construction of give the state a fascinating ganised for them on road is going on at a place called Samuel Ekundayo. The first phase is about 7km, and another project nearby. All these projects will open up the whole area. There is another project ongoing at Badagry and Eko theatres.

There are some proj- ects we know that are very key to Governor Ambode. Projects like the Oshodi Inter- change, Lagos airport road. Can you give some specific details on the ongoing proj- ects? What drove this Newly constructed Bariga Jetty, Lagos 14 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK Ambode’s legacies in photos

Ambode inspecting New LAMATA Place and BRT Intelligence Transport Systems

LASEMA rescue unit office

Ikola-Ipaja Command Road Junction, Alimosho

LASWA office Jubilee Bridge, Ajah GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 15 Ambode’s legacies in photos

Jubilee Chalet, Epe

One of the five Art Theatres completed by Ambode

Oworonshoki Lay-By

Launch of LAKE Rice in Lagos

Lagosians celebrate Easter at JJT Park, Alausa

Jubilee Chalet, Epe 16 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK A glance at Lagos- based companies with dual listing

net profit of the firms grew by a quar- ter to N1.47 trillion in 2018 compared to N1.18 trillion in 2017. The total loss made by the considered firms waned to N38.1 billion in 2018 from N39.19 bil- lion in 2017, affirming improved prof- itability in these businesses with head- quarters majorly in Lagos State.

The Nigerian Stock Ex- change

Since its inception in 1960 as Lagos Stock Exchange but renamed to Nige- rian Stock Exchange (NSE) in 1977, at least 266 companies have been listed at the domestic bourse, according to the NSE. Ninety nine companies have been del- Lagos State has enjoyed a high influx of businesses isted either voluntarily or as result of since May 2015 when Akinwunmi Ambode was regulatory offenses since 2002 while the sworn in as the executive governor of the state. remaining 167 publicly-listed compa- nies have a total market capitalization of about N13 trillion placing the Lagos ex- his is largely due to the state’s huge strategies to wait for a more appropriate change as Africa’s second-largest stock Tinvestment in security and road timing or a possible deterrence due to market after the Johannesburg Stock infrastructure which have helped bolster NSE cost of listing and other regulatory Exchange (NSE) with about four hun- business confidence in Nigeria’s com- fees. dred (400) listed companies. mercial headquarters, says Madu Yusuf, Available data extracted from the Nige- Among the firms that are currently list- Director-General of the Lagos Chamber rian Stock Exchange revealed that com- ed on the NSE, only five have dual list- of Commerce and Industry (LCCI). panies trading at Customs Street grew ings, implying their shares are traded in While most companies that have record- their profits significantly in 2018 when more than one exchange. ed unprecedented growth recently may compared to 2017. NSE’s 2018 financial This represents about 3 percent of the have not listed their IPOs on the Nigeri- report on after-tax profits of 93 public- total number of companies trading at an Stock Exchange in Lagos, they might ly-listed companies shows that the total the Nigerian Stock Exchange. have been constrained by their internal GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 17

Three companies includ- NSE placed Diamond Bank’s but it is also the most recent into its worst economic woes ing Nigeria’s most-capital- shares on full suspension, dual listing from any Nigeri- in 25 years. ized lender, Guaranty Trust resulting in the delisting of an company. However, Oando’s profit rose Bank Plc, tier-one Zenith the tier-two lender from the The low number of Nige- 114 percent in 2018 to N28.8 Bank Plc and a leading Ni- daily official list of the NSE. rian cross-listed compa- from N13.5 billion, the big- gerian indigenous upstream With this, the total number nies attests to the rigour the gest profit leap recorded by exploration and production of Nigerian companies with management of such firms any publicly-owned down- company, Seplat Petroleum dual listing dropped to four would have to go through stream oil and gas firm op- Development Company Plc (4). in meeting up with listing erating in the country. Like- requirements, particularly wise, its sales have continued initial listing cost, and regu- to soar steadily since 2015, latory compliance, and gen- reaching N679.5 billion in eral complexities involved 2018. in offering shares publicly at exchanges different from the Seplat Plc domestic market where the business operates. Seplat Petroleum Develop- But since the four La- ment Company Plc, an indig- gos-based companies have enous upstream exploration gone public on Africa’s larg- and production company, est stock market and one of grew sales from N113 bil- the world’s oldest exchanges, lion in 2015 to N228.39 bil- they have recorded signifi- lion in 2018. Seplat suffered cant surge in their revenues a loss in 2016, no thanks to Closing bell on the Nigerian Stock Exchange as well as their bottom lines Nigeria’s economy recession, over the last four years with the company bounced back were listed at the London Oando Plc debut Afri- Akinwunmi Ambode as the to the path of profitability a Stock Exchange (LSE) while ca’s dual listing, otherwise governor of the state. year after to post an after-tax African indigenous energy known as cross border list- A look at the companies’ au- profit of N81billion. Seplat’s company, Oando Plc, was ing, at the Johannesburg dited financial results shows profit, however shrank in the first company in the con- bourse in 2005, paving the that some of these firms have 2018 largely due to higher tinent to have a cross-border way for Guaranty Trust Bank already doubled their profits deferred tax, causing a sig- inward listing on the Johan- Plc to list its shares at the within the space of four years nificant decline in its profit nesburg Stock Exchange. London Stock Exchange two to N44.9 billion compared The defunct mid-tier lender, years after. In 2013, Zenith Oando Plc with a N80.6 billion pre-tax Diamond Bank Plc which Bank Plc joined by listing its income. recently merged with Ac- share at the LSE, while Se- Within the space of three cess Bank Plc was one of the plat Petroleum Development years spanning from 2016 to Guaranty Trust companies with listings on Company Plc went public at 2018, Oando enjoyed con- Bank Plc the Nigerian Stock Exchange the London bourse on April sistent growth in its post-tax (NSE) and the London Stock 17, 2014, a few days after its profit after recording losses Unlike the oil and gas firms Exchange (LSE). shares were listed on the dai- two years earlier. The oil firm with performance tied to the But since the completion of ly official list of the Nigerian lost N183.9 billion in 2014, volatility in crude oil prices the merger deal between the Stock Exchange. but in 2015, the loss reduced in the international market, two banks with the approvals to N49.7 billion. This could Nigerian banks located in of the Central Bank of Nige- Seplat’s 2014 listing did not be attributed to the shock in Lagos and having dual list- ria (CBN) and the Securities only mark the last listing the prices of crude oil at the ings have impressive income and Exchange Commission recorded through an initial international market, which year after year. (SEC) on March 20, 2019, the public offering on the NSE, eventually drove Nigeria Net income of Nigeria’s 18 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

largest bank by market cap- each at the London Stock Ex- al investors, grant domes- peers that do not cross-list, italization, Guaranty Trust change (LSE) was to improve tic shareholders confidence thereby boosting investors’ Bank Plc, rose to N184.6 liquidity in its stock through through value maximiza- confidence and creating billion in 2018 from N167.9 GDRs, according to Zenith tion, growth opportunities growth potentials for the billion, this is despite a mar- Bank, making the largest and to raise their interna- companies. ginal decline in its net inter- GDR listing by any Nigerian tional profiles. Consequently, the growth est income to N222 billion bank on the LSE to date. Due to the high level of li- opportunities of dual-listed from N246.7 billion in 2017. quidity at international stock companies are likely to be When compared to its 2015 Economic Impor- exchanges like the JSE and more valuable not only be- profit of N99.4 billion, that tance of Dual List- the LSE, which are often per- cause investors are at a better represents over 85 percent ing ceived as “better markets”, position to take advantage of increase. publicly-owned firms ap- their stocks, but also because The tier-one lender issued its In most cases, international proach these stock exchang- of the lower possibility of $824 million Global Depos- cross-listing of firms coming es for easy capital raising for taking over the of firms’ re- itory Receipts (GDRs) in an from developing economies business expansion. sources by major sharehold- unprecedented concurrent receive significant and posi- The perception is mostly ers. global offering in the domes- tive reactions in their domi- based on the premise that tic and international capital ciled markets, particularly the markets are not only liq- markets, to become the first on the valuation of the com- uid but also have good inves- Nigerian company and first panies’ stocks. tors’ protection, accounting Sub-Saharan African bank Companies seek dual list- standards and limited own- to be listed on the London ing for a number of reasons ership restrictions. Stock Exchange. which include better access That presents the cross-list- GDRs are instruments like to raise capital from a wide ed companies as high-val- shares or foreign currency range of major institution- ue firms compared to their convertible bonds which are issued as depository banks and represent ownership of a given number of a compa- ny’s shares which can be list- ed and traded independently from the underlying shares.

Zenith Bank Plc

Tier-one lender, Zenith Bank Plc, emerged Nigeria’s most profitable bank in 2018 hav- ing grown profit by 11 per- cent to N193.4 billion in the year. The bank has improved significantly both in the ar- eas of revenue generation and profit making. Its 2018 profit almost doubled the profit of 105.7 billion made after tax deductions in 2015. The bank listed $850 million Governor Ambode with Theresa May, British Prime Minister worth of its shares at $6.80 GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 19

competitor, Nigeria-based Konga considering it moved its headquarters from the affluent business districts of Victoria Island to Yaba. Africa Internet Group, a leading online conglomerate backed by Germany’s Rocket Internet, South African mo- bile phone giant MTN and Sweden’s Millicom, are also among companies in the tech hub as they moved six of their tech firms, including Hellofood and Easy Taxi, to Yaba. As tech start-ups are taking root in the suburb of the city; creating a buzz that is Akinwunmi Ambode, with I.T entreprenuers during one of his visits to Yaba drawing international ven- ture capitalists and more es- tablished digital firms to the mainland axis of the busy Lagos city as seen in the high Fintech hubs: How net worth island of lekki, VI or Ikoyi. Google and Microsoft ran Lagos is transforming coding workshops, while a deal between CCHub, the Lagos State Government and local telecoms firm into Africa’s Silicon MainOne brought cheap high-speed Internet via fibre optic cable. Under the Akinwunmi Am- Valley bode led administration, Lagos State has been able to create the enabling environ- ment for technological ad- Yaba Tech Hubs the high-tech innovation in 2013, the Information vancement, especially in the hub, which started life in Technology Developers En- Fintech space, leveraging on ust like the Silicon 2010 with one building, ear- trepreneurship Accelerator its natural blessings of huge Valley in the south- marked as an incubator for (iDEA), for would-be en- population and high level of Jern San Francisco talent. Supported by over- trepreneurs to get access to economic activities to en- Bay Area of California, home seas investors, the Co-Cre- docking stations, meeting able them grow. to companies like Apple, ation Hub (CCHub), backed rooms and mentors. One of the recent develop- Facebook and Google, Ni- by the founder of eBay was Recently listed on the ments of the current admin- geria is said to have almost a one of the first tech infra- New York Stock Exchange istration is the CodeLagos replica in Lagos, home to the structures built in the Yaba- (NYSE), Jumia, Africa’s initiative which is located largest tech hub ecosystem con Valley. largest e-commerce compa- in the heart of Yaba, aimed in Africa. The government chipped ny has about two offices in at training 1 million Lagos Located in the suburb of La- in with another building Yaba. The Lagos tech hub is residents to code by 2020, it gos is the Yabacon Valley, also home to Jumia’s strong is an initiative that provides Lagos

Lagos

20 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Lagos Fintech industry in Lagos

Lagos State Government in the last few years has taken bold steps towards repositioning the tech start-ups and hubs in the state for the desired impact, by Lagos’ Contribution to Africa’s providing broadband infrastructure through fibre optic cables in the Yaba area.

LLagoseveraging its demographics, Lagos is

LAGOS Fintech lanscape using technology to shape the way peo- ple live, communicate, work, play, inter- act and transact business for an ease of operations and better customer service- in Nigeria’s Centre of Excellence espe- cially in the financial sector. Financial Technology or Fintech refers to new technology or innovation that

disrupts the traditionalLagos State Government ways of conductin the last few- years has taken bold steps towards repositioning the tech start-ups and hubs in the state for the desired impact, by Lagos ing financial transactions through dig- providing broadband infrastructure through fibre optic cables in the Yaba area. Yaba itized process for efficient and effective service rendering.

LAGOS According to PWC 2017 financial in- dustry survey, Nigeria’s industry leaders acknowledge the emergence of Fintech and recognize its impact on the industry. The main impact of Fintech will be the development of new FS business mod- els, which will create challenges for both Lagos regulators and market players. is home to about 80% of Lagos State Government in the last few years has taken bold steps towards FINTECH hubs in Nigeria Lagos Staterepositioning Government the tech start-ups and hubs in the state for in the desired the impact, bylast few years The emergence of Fintech companies Yaba providing broadband infrastructure through fibre optic cables in the Yaba area. has taken bold steps towards repositioning may have been a threat to Nigerian the tech start-ups and hubs in the state for

the desired impact, by providing broadband Lagos banks but the financial institutions are infrastructure through fibre optic cables in the LAGOS not throwing in the towel, they have in- Yaba area. creased their investment, they are also review their digital banking strategies such as partnerships with Fintech com- tech companies especially those in the the hub was built to cater for the needs of panies to utilize more financial technol- financial industry sufficient labour and startups and tech enthusiasts continues ogy offerings and unleash new technol- technical know how to measure up to to impact on the yaba demography with ogy driven products and services in the global standards while also giving op- growing neigbhoods with savvy busi- market. portunity to the less enabled residents of nesses such as a coffee shop chain, ser- Stakeholders in Nigeria’s financial in- the state. This holds the record as one of viced homes and restaurants—opening dustry– including bank executives like the largest Edutech initiatives in Africa. up shop looking to service Yaba’s new Jim Ovia of Zenith Bank – acknowledge This was implement by the Ambode led residents. It has been designed to provide that Fintech existence is good for com- administration after it inaugurated the a community that fosters innovation for petition and innovation in the financial Lagos State Employment Trust Fund technology startups by encouraging ex- industry. Deremi Atanda of SystemSpecs (LSETF) in March 2016 with a cumu- perimentation, research, and adoption Limited says the opportunities for Fin- lative sum of N25 billion, aimed at pro- of new and emerging technologies for tech industry are not local but global viding grants for start-ups like Fintech cutting-edge product development and and requiries more collaboration and in- companies coupled with the intention entrepreneurship. vestment opportunities from public and to provide office space for the emerging YabaCon Valley is therefore considered private sector companies through partnership with one of the biggest tech hubs in Africa as co-working hubs and spaces. compared to Kenya’s Silicon Savannah, Fintech is changing the fi- Recently commissioned in 2019, is The South Africa’s Silicon Cape and Rwan- nancial service experience Nest, an innovation technology park da’s kLab in Kigali owing to the fact that to help technology startups thrive, and it is home to over 50 startups with many The benefits from the evolution of Fin- achieve their desired results. more techies hoping to create the next tech industry in Nigeria is enormous; Located in the Yabacon area of Lagos, global unicorn. with Fintech, small businesses are ex- GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 21

ures from industry sources show. Some startups that raised big ticket funding in the re- view year include; Branch which raised $70 million in Series B; Cellulant secured $47.5 million in Series C to expand into more countries; Mines got $13 million Series A investment to hire talent, expand into Africa and be- yond; Paga raised $10 mil- lion in Series B2 to expand into Africa and other mar- kets; Paystack raised $8 mil- lion in Series A to expand into other markets; SureRe- mit raised $7 million in an Ambode’s inspection visit to Andela a tech hub in Yaba ICO to develop its non-cash remittance platform; and Lydia secured $6.9 million in posed to a world of benefits laborate with banks and Fin- form for smooth operations Series A to hire skill, expand in terms of access to funding, tech companies to provide of startups with favourable its loan book. e-commerce, online order/ a platform where customers policies and tax incentives. Armed with increased in- supply channels and cus- can pay for their electric- Also with demonetization vestment, some of these tomer transactions options. ity on the Bank’s Mobile and digitization effect, it will startups have launched am- With improved payment sys- App platforms. This shared be easy for government to bitious products and ser- tems and customer relation- economy is being witnessed trace and stop circulation of vices targeted at both exist- ship management, users can across sectors – Cable, edu- Black Money giving more ing banking customers and now carry out transactions cation, environment, health, opportunities to Fintech the millions of unbanked through their mobile devic- transportation and even en- companies to grow in the Nigerians. es, thus improving response/ tertainment. above area. From banking to interna- feedback time. Customers continue to be tional money transfers, from When it comes to financial availed with a growing access Local and foreign business and personal loans inclusion; unbanked and to credit facilities as Bimbo, funding to personal investment, and under banked Nigerians the first and only graduate in much more, Fintech is pre- through some developed her family, who can choose Many investors describe the senting non-traditional fi- solution by Fintech com- to borrow credit from either fintech industry as a gold- nance means of carrying out panies now have access to a Fintech company or a con- mine owing to the manner at transactions through waves financial services and prod- ventional bank through a which the tech driven com- of new, innovative ideas ucts. IyaBeji, an old petty credit app on her phone to panies have been getting in- which are making life easier trader in the Makoko axis of send to her family members vestments from Lagos State for Nigerians, and the Am- the Lagos mainland, through without stress, as the lender Government, local and for- bode led administration has a mobile wallet account by a will have it deducted from eign investors in the past few contributed directly and in- Fintech company, she can her salary at the end of the years.Through the LSETF, directly to the growth of the now receive money from her month. a lot of tech start-ups have industry. children who live on the is- A few years back, the afore- gotten to expand their oper- land even though she don’t mentioned would sound like ations have a basic bank account. a miracle to many Nigerians Nigerian Fintech funding ex- Fintech is also aiding a except for those that have ceeded $250 million invest- shared economy as electrici- seen that happen abroad. ment in 2018 alone, making ty producing companies col- Government has set the plat- it the most of any period, fig- 22 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

partnership with some Development Finance Institutions (DFI) in the conti- nent that has comparative advantage at regional or sub-regional levels in certain Lagos as Africa’s strategic sectors. The fact that AFC has its head office in Lagos affirms that the ‘Centre of Excel- Financial Hub lence’ is the financial headquarters of West Africa, and a leading financial cen- tre in Africa.

Merchant Banks

Africa’s fifth-largest economy, Lagos is home to the head offices of all licensed merchant banks in Nigeria such as Coro- nation Merchant Bank (Victoria Island), FBNQuest Merchant Bank (Ikoyi), Nova Merchant Bank (Victoria Island) and FSDH Merchant Bank (Lagos Island). Microfinance Banks According to the Central Bank of Nige- ria, there are 882 licensed microfinance banks (MFBs) in Nigeria as at Sept 2018 with a higher presence in Lagos com- pared to other states constituting a fifth of MFBs operating houses, a wide gap when compared with Abuja (49) and Kano (46) respectively.

Business District, Marina, Lagos Nigerian Stock Exchange

African Finance Corpora- projects in Africa, with specific focus on Powering Africa’s largest economy, The tion (AFC) power, transportation, telecommunica- Nigerian Stock Exchange (NSE) hosted tions, heavy industries and natural re- in Lagos, provides liquidity for some of FC, headquartered in Ikoyi, sources. the country’s biggest companies across Lagos, is a pan-African mul- The institution has made notable invest- sectors; from banking, insurance, oil and Atilateral financial institution ments, including Azura Edo in Nigeria, gas, consumer goods through industri- established in 2007 to bridge Africa’s Ghana Airport Company, SAIF acqui- al goods. The NSE was awarded Africa’s infrastructural investment gap through sition in South Africa, Kenya Power & best performing stock exchange in 2017, the provision of debt and equity finance, Lighting Company, Ethiopian Airline after a stellar performance which saw it project development as well as financial Expansion and Olam Gabon Special gain 43 percent. advisory services. Economic Zone to mention few. The Nigerian Stock Market is more liq- The Central Bank of Nigeria along with According to Bloomberg, the institu- uid than it has been in 2015 with a total United Bank for Africa Plc, Access Bank tion’s investment in 26 African countries market capitalisation of N27.62 trillion and First Bank of Nigeria account for stood at $4.5 billion as at September, as at April 2019. some 73 percent shareholding in AFC. 2016. In 2018, the African Development Nigerian Stock Exchange, alongside The institution is saddled with the re- Bank approved an equity investment of Egyptian Exchange, Johannesburg Stock sponsibility of financing infrastructure $50 million in Africa to foster strategic Exchange and Nairobi Securities and GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 23

Exchange, ranks among the sard, Mutual Benefits, Pres- Not only that, the city is also banks, to deposit money top seven exchanges which tige Insurance, Cornerstone, home to the head offices of banks have their head offices account for 90 percent of Industrial and General In- deposit money banks with situated in Lagos. market capitalisation on the surance, Consolidated hall- national authorization (Citi- The list below briefly high- continent. mark insurance, Linkage Bank Limited, EcoBank, lights prominent Chief Exec- Assurance, Custodian and Wema Bank, Unity Bank, utive Officers (CEOs) steer- Insurance Allied Insurance, AIICO In- Sterling Bank, Stanbic IBTC, ing the wheels of leadership Companies surance, are a few of the in- Polaris Bank, Keystone Bank of their respective institu- surance companies that op- & Standard Chartered); and tions. With about 51 insurance erate in Lagos. the ones with regional au- companies in Nigeria, Lagos thorization (SunTrust Bank Adesola Adedun- is home to virtually all layers Deposit Nigeria Limited & Providus tan, FBN Holdings in the sector; from the gen- Money Banks Bank Limited). Plc eral life segment, life and the Adesola Kazeem Adeduntan re-insurers. At least 90 per- Lagos, the commercial and Notable Chief Execu- took the mantle as Manag- cent of all insurance compa- economic nerve centre of tive Officers ing Director/CEO of First nies operate in Lagos. Nigeria, inhabits the head- Bank of Nigeria Limited The concentration of insur- quarters of all commercial One major characteristics and its subsidiaries within ance companies in Lagos is banks with international of financial hub is that it is FBN Holdings Plc on Jan- a natural effect of its large authorization (Access Bank, home to the headquarters of uary 25, 2016. Prior to his population, aggregation of Fidelity Bank, United Bank large number and varieties appointment, he was Exec- financial institutions situat- for Africa, Zenith Bank, of financial services insti- utive Director and Chief Fi- ed in the metropolitan city, First Bank of Nigeria, Union tutions and this simply de- nancial Officer for the Bank. high Gross Domestic Prod- Bank, Guaranty Trust Bank scribes Lagos! Before joining First Bank in uct, literacy rate, and tech- and First City Monument Almost all players in the fi- July 2014, Adeduntan was a nological advancement. Bank). nancial sector ranging from Director and pioneer Chief Leadway, NEM, Axa Man- insurance sector, merchant Financial Officer of African Finance Corporation.

Segun Agbaje, Guaranty Trust Bank Plc (GTB)

Segun Agbaje is the Manag- ing Director/CEO of Guar- anty Trust Bank, Nigeria’s biggest bank by market cap- italization. Agbaje is also a Director on Master Card Advisory Board Middle East and Africa. Agbaje became helmsman of GTB in April 2011 after the demise of Tayo Aderinokun. Awards conferred on his institution as the Managing Director include Best bank in Nigeria by Euromoney, Best Bank in Governor Ambode with President of France, Emmanuel Macron and Bimbo Ashiru Nigeria by World Finance, 24 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

United Kingdom, among succeeding his business part- tor of UBA Group. others. ner, Aigboje Aid-Imoukhu- Anya Duroha, Nova ede in 2019. Merchant Bank Peter Amangbo, Ze- Wigwe has a degree in ac- Limited nith Bank Plc countancy from the Uni- Oscar Onyema, Nige- versity of Nigeria, an MA in rian Stock Exchange Prior to his appointment Peter Amangbo was appoint- Banking & Finance from the (NSE) as CEO of Nova Merchant ed Managing Director/CEO University College of North Bank, Anya Duroha was the of Zenith Bank Plc on June 1, Wales (now Bangor), and Oscar Onyema is the CEO Executive Director, Whole- 2014, following the appoint- MSc in Financial Econom- of the Nigerian Stock Ex- sale Bank responsible for ment of Godwin Emefiele, ics from University of Lon- change, a position he as- development and manage- as Governor of the Central don. He is also an alumnus sumed on April 4, 2011. Pri- ment of the Bank’s corporate Bank of Nigeria. Prior to of Harvard Business School or to his role, he has served banking relationships. Anya joining the banking indus- Executive Management Pro- for over 20 years in United holds M.Sc in Banking & Fi- try, Amangbo was a senior gramme. States financial markets and nance from the University of consultant with PriceWater- Nigerian Information Tech- Benin, and is an alumnus of houseCooper where he cov- Kennedy Uzoka, nology Sector. United Bank for Af- Lagos Business School and ered assignments in financial rica Plc Wharton Business School. services, general commerce Bola Onadele Koko, FMDQ OTC Securi- Kunle Ahmed, AXA and manufacturing. He was Kennedy Uzoka took over the pioneer non-executive ties Mansard Insurance from Phillip Oduoza as Plc director of Zenith Bank, UK. Group Managing Director/ He is set to retire as MD/ CEO of UBA Plc on July Bola Onadele is the pioneer Kunle Ahmed took over CEO on June 1, 2019. 31, 2016. Uzoka has been Managing Director/CEO from Yetunde Ilori as CEO with the group since 2006. of FMDQ OTC Securities. of AXA Mansard Insur- Herbert Wigwe, He was the General Man- Prior to this role, he was the ance Plc on July 17, 2017. Access Bank Plc ager and Head of UBA President of FSDL, a finan- Ahmed became an Execu- Group South Bank covering cial markets and risk man- tive Director on the Board Herbert Wigwe is a Nigerian across the Eastern, South- agement consulting firm he of the Company in February banker and entrepreneur. He ern, Mid-western and West- founded in 2001 where he 2012; he has also served as a is currently the CEO of Ac- ern states of Nigeria. Prior provided leadership in the Non-Executive Director of cess Bank Plc, Nigeria’s lend- to his appointment, he was empowerment of Nigerian AXA Mansard Health Lim- er by customer base, after theDeputy Managing Direc- financial markets. ited, which is a subsidiary of the company.

Peter Ashade, United Capital Plc Peter Ashade was announced Group CEO of United Capi- tal Plc, following the retire- ment of former Group CEO, Oluwatoyin Sanni. Prior to this role, Ashade was the CEO of African Prudentials Plc, and has championed disruptive innovation in the registrars’ business in Nige- ria and across Africa.

Governor Ambode with Aliko Dangote GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 25

For the first time in cent of current consumption Lagos, this adminis- taxes if we introduce tech- tration came up with nology. ‘Lagos has potential an ambitious bud- We also looked at the con- get of N1.04 trillion troversial land use charge to in 2018. What in- see how we could generate for tax to GDP ratio formed that? more revenue by capturing more property. Those were of 10 per cent with We have always been saying the things that went into the that it has to be the combi- budget of over N1 trillion nation of growth in Internal- that you saw in 2018. proper reforms’ ly Generated Revenue (IGR) and good debt management However, in the course of processes and system. I implementing the budget, would also say good finan- we had issues pushing the cial engineering in order land use charge and the gov- for Lagos to bridge its infra- ernor had to intervene using structural gap quickly. If you the state executive council look at it sincerely, we don’t to reduce some of the rates, have enough resources to be which was fine. We learnt able to attend to the level of some lessons in that area. infrastructural decay in our Painfully, people collect state. Currently the resourc- revenue on behalf of gov- es available to Lagos State are ernment and they don’t re- not enough. mit. And these are the same People can argue and right- people that will complain fully say that Lagos generates about infrastructure deficit a whole lot of IGR. The last and when you say okay let’s time I check, on a month- introduce technology; the ly basis, the IGR is between same people will go to court N30 and N34 billion, de- to delay the process. That pending on how the perfor- takes me again to the issue Akinyemi Ashade, Finance Commissioner mance is and that has always of consumption tax and the been the trend for the past battle we have had with ho- one or two years. But is that teliers and the likes of them. The administration do deficit budget financing enough? Today, whatever happens, it set out with a N500 to fund recurrent expendi- If you want to bridge the is one battle we can’t afford billion bond pro- ture or running cost. We al- infrastructure gap of 50 bil- to lose because technology gramme. Can you tell ways devote such to capital lion dollars and that doesn’t helps solve problems of col- us what has happened projects. involve education, it doesn’t lection and remittance and to that? Given that we have only involve health and housing that is what fiscalization is all done N144.4 billion out of needs. So you see how wide about. I believe strongly that When we came in 2015, we the N500 billion, there is that infrastructure deficit we have capacity to generate retired some bonds. We then room for the incoming gov- can be. What we need to con- about N60 billion annually established a bond insurance ernment to get more bond or tinue to do in 2019 is embark from fiscalization alone. programme of N500 billion. loan. The fact that we issued on revenue reform. We look Out of the N500 billion, we ten-year tenure shows the at some areas like consump- The planning went into it have accessed about N144.4 kind of confidence that in- tion tax which is lawful, and and we thought we would billion. For you to appreci- vestors have in the capacity we realise that some people be able to pull those reforms ate that, everything has been of Lagos State Government don’t even collect it. When through but we experienced used for capital projects. to always deliver. they collect, they don’t re- some kind of slow down. Being a fiscally responsible mit. We believe that we can That is what happened in state, we don’t take loans or generate more than 500 per 2018 and which affected the 26 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

implementation of the 2018 ture. The answer is neither nue into the infrastructure We have looked at what is budget. Notwithstanding, we here nor there. Both ways, development of Lagos State. called data analytics. Data achieved about 70 per cent it depends on where you are analytics tends to look at pro- implementation in terms of looking at it from. But fun- In terms of the Land Use Act, filing the spending pattern the funds available. damentally, paying taxes is a the amendment is currently of a tax payer. How does he We were conscious in 2018; constitutional responsibility, before the House of Assem- live his life? Where does he we did not go to the capital a civic duty. The fact that one bly and all the input that we make his money from? How market though it was pro- can end up in jail for failure got in the cause of imple- does he spend his money? So vided for in the budget. to pay tax shows how im- menting it have gone into the that is an area that we have We also practice what we call portant it is.We should con- amendment. We believe that started working on in terms multi-year budgeting system tinue to engage them using it will soon be re-enacted. of building data base so that where we have medium term various means such as moral Once we are able to do that, we’re able to profile a poten- expenditure framework. We suasion, enlightenment and block the loopholes and mo- tial tax payer to know those believe that as a state, we provide an enabling environ- tivate the staff of the revenue points we need to attack in service, you will see that we terms of generating revenue. will push the revenue higher. We are currently implement- We don’t want to be seen to ing a system that will im- be too aggressive in the area prove on our ability to col- of tax because taxation can lect data and analysis them be very emotive. We just take and able to use them towards it gradually and continue to ensuring we bring more peo- talk to our people about the ple into the tax net. The La- need for them to fulfil their gos Inland Revenue Service civic obligation. We contin- (LIRS) is currently ensuring ue also to ask for more pow- that we make good use of ers to the state and physical data to also capture the in- federalism. Imagine if all the formal sector. Now you have revenue coming from the Bank Verification Num- should be at that level where ment that will endear people ports is being handled by La- ber (BVN), some people we should earn based on to pay their taxes because we gos State; see the amount of use card, do transfer, even all that has happened. And need those funds in order to funds that will be available. pay toll. Every point you do that is what led to the review move Lagos forward. But the truth is that we don’t those transactions and inter- of the 2019 budget which get the revenue but we bear act with the IT system, we is N852.13 billion. May- How is the state re- the brunt of infrastructure are able to capture what you be some of those reforms solving the disagree- damage that occurs on our are doing. we would continue to push ment on consumption roads and the congestion. them because they will take tax with hoteliers We hope we will continue to We are able to analyse your time before they mature. and the controversial work on the structure of our tax returns to the state and land use charge? federation to also ensure that we follow up from there. So, But clearly, we need more we have more devolution of good data base management revenue in Lagos if we can- As I said we had challenges powers to the state. That is system is key. And also your not have physical federalism, in terms of the reforms that what will make Lagos able to phone, dress and even the we should be able to look we wanted to push. We are rise up to the infrastructure car you bought. So we look inward and be very creative still currently in court in re- deficit that we have. at your lifestyle to be able to by employing technology to spect of some hoteliers on capture more people. It is all When we look at the block leakages, get people the fiscalization reform and about using technology to IGR of the state, we excited about paying tax- consumption taxes. I don’t drive the process. realise that most of es. How can they be excit- want to pre-empt what the the revenues come ed? Is it that we do the in- court will say but I believe from PAYE. What frastructure and they see it that those revenue are just about other sources? and pay their taxes or we get been kept for us and we will the money to fix infrastruc- be able to unleash the reve- GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 27

Ambode’s legacies in photos

DNA and Forensic centere, Lagos Island

Ketu Road

BRT terminal, TBS 28 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK Ambode’s legacies in photos

Ketu Alapere New Airport Road

New Epe Road

Governor Ambode commissions Multi-Agency Safety Arena, Oshodi Pedestrain bridge Berger GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 29

I came into government eager to serve Lagosians- Ambode

pare another development opment plan is something plan and so all I did was to that is a carryover, which is take the four strategic pillars the same development plan which are the Economic De- that my successor, Jide San- velopment Pillar, the Infra- wo-Olu is likely to extract structure Development Pil- from. Styles, functionality lar, the Social Development and emphasis might be dif- and Security Pillar, and the ferent but the ground work Sustainable Development and the content is the same. Pillar. So, from day one on May 29, 2015, those were Can you tell us the the things that we started to secret behind how implement. From the devel- you are able to run opment plan, we extracted the economy of the the ministries and the de- state with IGR? partments that would focus on those pillars and then di- As I said, one of the strate- vided our functions and the gic instruments in that de- Can you please help us to work with. In that document roles of Commissioners and velopment plan is to create understand the four pil- and up till today, the four stra- the MDAs into those pillars. a financial model for Lagos lars and intellectual rea- tegic pillars of development The style might have been State. It is not enough for us soning underpinning the were actually embedded in it different but it is still just a to say we are having strate- projects that we have seen and that is what we have run continuation. If you remem- gic pillars of development in the last four years? with in the last four years. It ber clearly at that inaugu- without knowing how to was a culmination of past de- ration, we said ours was a fund it and so in the devel- First, when you go into my inau- velopment plans or whatever it government of continuity opment plan, a growth plan gural speech of May 29, 2015, you is that is being referred to as the and that implies continua- for revenue generation had will actually see that it was stated master plan or blueprint. Don’t tion from the time of Gov- actually been embedded in clearly that we would work with forget also that I have been part ernor Bola Ahmed Tinubu it. Fortunately for Lagos, we the development plan which was of this Lagos State system for when he started in 1999 and have statistics that favour a policy document that I met and the past 30 years. In the plan, we must give it to him as the revenue growth. Lagos is was handed over to me by my pre- we had the 10-point agenda; we enabler of modern Lagos. It the commercial capital of decessor, Governor Raji Fashola. had the Ehingbeti Summit; we was also what Governor Fas- Nigeria; the business com- That policy document is actually had every other thing that was hola continued and that is munity in terms of popu- speaking to the Lagos State Devel- put together in which Gover- what I have actually done in lation or location is here opment Plan (2012-2025). Apart nor Fashola ran with. the last four years and hope- and this is like 70 per cent from the fact that I imbibed into it, When I came in in 2015, there fully, we believe strongly of what is happening in Ni- I also saw it as a document I could was no reason for me to pre- also that because that devel- geria; we have the market 30 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

and again Lagos is the most every other thing that we as an Accountant-General zy trying to do projects in all sophisticated state. Those have been able to do. and as Auditor-General and the local governments. The indicators were just enough as a Chief Executive Officer. idea was that I did not want for anybody to leverage and Despite the reces- It doesn’t come that easy but anybody to travel all the way manage the state well. Re- sion, you carried out obviously I understood what from Badagry to look for member also when we came several projects that were the critical things in job in CMS. So, whether the in, the revenue that was gen- impacted the entire terms of financial decisions project was going to be paid erated on a monthly basis state, many of which and I was able to prioritize. on schedule or not, give jobs was about N12 billion and have been commis- Yes, we can laugh it off now; to people in Badagry, don’t then it moved to almost like sioned. Now, what at the beginning especially let them go to Epe to look for N20 billion. does this say of you the first three to six months, jobs. Create jobs in Epe and there were lots of backlash- give the contract to someone es but at that time, we were there and if you are paying trying to put the financial just N5,000 to that bricklay- groundwork and the frame- er, you are creating a multi- work of how the financial plier effect on the household model would run into place. economy; that was the whole However, I never had the po- idea about massive projects. sition or the opportunity to When you talk about 114 lo- say to the public that this is cal government roads by lo- more about financial frame- cal government contractors, work than grandstanding, the idea was to keep them and once we got the finan- busy and spread income cial model right, every other across board and stabilize thing began to fall in place. the economy. As to the style of leadership, Our main vision was just on my financial experience I the bedrock of three issues: would say gave me a very job creation, renewal of in- great advantage as to what frastructure and then secu- Today, we are having an av- and your style of lead- we have done. erage of N30 billion to N35 ership? The other advantage is that billion monthly which has I have been part of the story been made possible not as a I was Accountant-General of this blueprint, master plan result of increase in taxes or for two years during Asiwa- and the development plan rates but more of improve- ju’s tenure; and as Accoun- for long. All I did was to use ment in collection machin- tant-General for six years what were critical or of prior- ery by investing in technolo- during Governor Fashola’s ity to me and extracted from gy, a more dedicated human tenure, and also now for four the development plan and resources and an efficient years, I have been manag- then dispersed it. That was civil service system that was ing the finances of the state what led to all these massive able to tap into those things. and that speaks a lot about and ambitious projects. The Remember also that 67 per the financial acumen that I truth is that then in a reces- cent of the total revenue that bring to this work, which is sion, the bottom line and the accrues to Lagos State comes peculiar to me and which whole story was about refla- through the IGR so the best in itself is a singular advan- tion; you reflate the economy model is to continue to ex- tage of how I was able to hit and government spending pand the IGR base in order the ground running because has to increase to allow more for you to be able to cover having understood the finan- jobs to be created. your fixed cost and also do cial groundwork of the state So, it wasn’t as if we were cra- GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 31

rity. So, there was no dichot- ments from one government are using the same set of pol- something that we would omy as per elitist projects to the other and we have not icy documents, whoever is like to be replicated. or mass oriented projects; changed party. It is the same coming in next should actu- The one I think has actual- it was more about does it party that has been able to ally build on what you have ly created the greatest im- meet security issue? Does it run the state in the last 20 done and I don’t expect any- pact to people is the Ojodu create jobs? Does it actually years using the same set of thing less from the incoming Berger re-arrangement with have impact on the people? policy documents, the same government. the pedestrian bridge. It’s a Those were the factors that set of development and the project out of the box. You informed the projects we same set of specialists. Luck- can imagine the number of started at that early stage go- ily enough, the people that What, in your people that have been killed ing into the hinterland. have been governors in La- view, are those on that expressway but now gos have been people who ground-breaking you can cross all the way Lagos State seems have actually worked in the projects not more from Ibadan road down to to be blessed with system and same for San- than five that you the other end at Isheri be- good leadership that wo-Olu that is coming in, he would be pleased if cause the bridge stretches thinks about the fu- has worked in the system. So, they are repeatedly about 250 meters to 400 me- ture. What can we that could be a positive thing spoken about after ters and we also changed the say is responsible for to draw synergy from the you leave office? face of Lagos and changed this formula? policy documents and if you the traffic situation in that don’t deviate too much, you area. If you move away from are likely to deliver on the set I can say it clearly here that there and talk about things Let’s go back to what I said objectives in the policy doc- every project means so much that have to do with Ayinke earlier. Here is a state that has uments. So, we don’t expect to me because I did every- House, that project has been continually used the same anything away from that and thing with so much passion. abandoned for about seven set of objectives and goals in Lagos is lucky, the next four I have done all my projects years and that is the biggest a plan that is consummated years should actually see with the sense that each children hospital in Nigeria. into a development plan and something better than what I project has a positive impact Now, we are almost there be- the same set of policy docu- have done because there has on the people. I have been cause in another few weeks, been a trajectory that if you people-centric so to speak it will be opened to the pub- and when you look at all the lic. It’s about the people; how projects, you would see that the poor ones who cannot each has one thing or the afford private hospitals in other to do with the peo- their thousands and millions ple. Truthfully, I don’t know waiting. So, if I am to re- which sector I will consider member projects that I have and would not be emotion- done, it’s about the number al and if you tell me I should of people that I have actually mention five, it’s a very dif- touched their lives. When I ficult thing for me. There came here at the beginning are even things that are not and I told people when we projects but soft issues that were even trying to prepare are actually innovative; that for this and I can’t say I am have not been started be- not a politician now. I have fore and we tried our hands learnt my lessons and I can on them. So, before I go to say I am a core politician projects, look at the impact now. I came in as a techno- of what has been done with crat and all I wanted to do Employment Trust Fund. It was to work. The drive I had has never been done and it’s 32 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

was that I felt God was just I would have laid the foun- only need to be accelerated. this administration has been trying to give me an oppor- dation for somebody to use We have done it to a partic- able to sign it into law after tunity to touch humanity be- that same policy document ular stage, we have stabilized a very long time and sign- cause each time I look back, to improve on what I have it from where we met it and ing it into law means that it I have had extra surplus of done. I must have hurt a irrespective of the recession is totally irreversible as we blessings from God looking lot of people with the proj- and slow pace of the econ- speak. Now, we have put the at everything that has hap- ects but I am happy I did omy, there has been signif- framework and the institu- pened to me. them because they were for icant growth in the Lagos tional personnel in place; So, I took the seat of gover- the general good. But we economy which is visible. we have also approved the nor as a payback to God and are paying compensation But what is the most import- rates and also at this time ap- I just believed that I could do to them; I have not finished ant part of it also, we have proved the stakeholders that something to humanity and paying but again I have done been able to create a night will take part in it. But again if the space is larger, let me every of my project with a economy which was part of because of the situation that touch more people. So, every human face and every proj- my mission. we actually found ourselves project was about touching ect that we have demolished, So, one thing that we should in terms of the politics and people. I mean when you we have paid compensation. be seeing ahead is an econ- the elections, funding has do like 27 roads one day in omy that compares to New been a little bit of the limit- Alimosho axis opening up With all these posi- York; an economy that actu- ing factor for a full roll out Abule Egba to connect Ogun tive trends of devel- ally takes that vantage posi- but technically all the logis- State without going through opment that you are tion because we know that tics and operational issues Agege Motor Road, it’s about leaving behind, what the next economic devel- are being worked on and I the people there who have is your projection or opment in the whole global believe strongly, in another been left untouched and vision for Lagos over system is in Africa and Lagos few weeks or months, the in- that is it. When I look at the the next 10 years? is just positioned as a trigger coming government should Airport Road today with 10 because of its natural advan- make the operational layout lanes, 3.6km between Os- Well, it’s not even more tages not necessarily because to be in place and we are get- hodi and Airport Road and about my vision now but of our skill-sets; and but ting more people who are in- when you are talk about 10 more about what has been the competencies and the terested in coming into it. lanes, it means you are do- documented in that Lagos skill-sets that we will draw As we said, it’s majorly ad- ing 3.6 multiply by five with State Development Plan to in terms of governance and vantageous to a cosmopol- three flyovers and pedestrian be the goals of Lagos in 2025. leadership is what should itan state like Lagos and it bridges. So, I used to look I am drawing from what has see Lagos as the third largest would actually give access, at it, I am well-travelled like been put there which is also economy and then compare most importantly, to the other people and I have gone my own dream to make La- favourably with cities like poor, the people who cannot to other places and so it was gos that financial hub, to Mumbai and everywhere afford it. The whole thing is always a sore in my heart make Lagos a safe, secure that you go. I mean, you want about the people; it’s just a that if I ever have the oppor- city, to make it a mega city, to see Lagos like a Tokyo but people-centric policy and tunity, I will do something. that compares to all devel- you need a lot of investment once it is in the stage that it is So, I am happy I did it. Is it oped cities. So, I met Lagos in technology. a law, it’s just more about op- about the roundabout on as the fifth largest economy At what stage is your admin- eration. For me, yes I might Ajah axis? I used to be part in Africa, my dream, which istration leaving the Health not have had the opportuni- of the traffic that go through I have always said, is that we Insurance Scheme now? ty to do the roll out in the full Third Mainland Bridge and take Lagos to the third larg- I think my major achieve- way I wanted it, but again I looking at it that one day if est economy in Africa. That’s ment in terms of the Health have created that framework I have the chance, I will do the dream. So, in 10 years, is Insurance Scheme is that that that would not allow it to something and so God gave that doable? I believe strong- scheme has been on the table disappear again. me the chance and I did lay- ly that all the parameters that in this Lagos State Govern- bys, bus stops and so on. I can actually grow the GDP ment House since the time can’t do everything but again of Lagos are in place and of Asiwaju Tinubu. Again, GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 33

lion as internally generated revenue, accounting for about 34 per cent of total state Inter- How Lagos nally Generated Revenue (IGR) which stood at N843.9bn this period, according to NBS data. The total IGR from Lagos was became the more than the total IGR from the 30 least generating states combined (N273.6bn). Home to about 21 million 5th biggest people across different ethnic- ities, religions and tribes; La- gos boasted a Gross Domestic Product (GDP) of $137 billion economy in in 2017 which is about three times the entire $47 billion economies of Nigeria’s West Africa neighbour, Ghana. This Africa performance was a 52 percent increase from the $90 billion it recorded in 2014. The total IGR of Lagos is more than pportunities contin- The state moved three places up the IGR of 30 states combined. ues to abound in La- behind Egypt after overtaking Ogos with growth driv- Algeria, Angola and Morocco en majorly by vital reforms in to take the fifth spot, despite state service—taxation, trans- having a far-smaller land area port services and manage- compared to these economies. ment—Lagos State remains the economic hub of Nigeria twen- Akinwunmi Ambode - the cur- ty-eight years after the man- rent governor of Lagos State, tle of being the state capital of was sworn into office on May Africa’s most populous nation 29th 2015, and has taken bold was taken from it. reforms in setting the state to becoming one of the mega cit- In two years, the state moved ies in the world. up the ladder to being the 5th largest economy in Africa from Major projects such as Lagos a position of 7th in 2016 thanks airport road, the construction to Nigeria’s sporadic rural-ur- of the Oshodi Transport Inter- ban migration that resulted has change (OTI); the light-up La- in more domestic and foreign gos project and the Lekki-Aja economic activities in the state. Bridge among others are some The massive investment flows of the facilities that happened from both the local and foreign under his watch. investors into the country fur- ther boosted the state’s ability Like other megacities of the to generate more revenue for world, Lagos has recorded giant itself. stride infrastructural develop- ment in Education, Health care Lagos – Growing at an system, Commerce, Sports, accelerating rate Source: New world wealth, visual capitalist Transportation, Oil and Gas, Justice Delivery and Agricul- In the first 3 quarters of 2018, ture amongst others that are in the state generated N283.5bil- the works are making the state 34 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

on Victoria Island—home of at least 250,000 residents and a daily flow of 150,000 commut- ers—which upon completion carries positive environmental impact, as it will help in stop- ping the erosion of Lagos State’s coastline. Eko Atlantic is a marvel of modern architectural engi- neering and technology, and a testament to the rise of Nigeria on the world stage with a focal point for investors capitalizing on rich development growth based on massive demand – and a gateway to emerging markets of the continent.

The project is privately fund- ed by South Energyx Nigeria Limited – the developers and LADOL facility city planners, a subsidiary of the Nigeria-based Chagoury Group of companies – working holds the record of being one per cent, based on data from rail and sea links that will help in strategic partnership with of the world’s fastest growing state-funded National Bureau open up investment, business the Lagos State Government economies. of Statistics. and tourism potentials in Ni- With the Dangote refinery geria to the world.Situated and supported by the Federal coming into the limelight in “What we are trying to do is around the East zone of Lagos, Government of Nigeria. three years’ time, Lagos has to replicate exactly what we the project was initiated fol- Standing on 10 million square been expected to overtake did in cement. Nigeria used lowing the approval of the for- meters of land reclaimed from Egypt as the third largest econ- to be number two in the mer Nigerian president (Pres- the ocean and protected by an omy in Africa in dollar term by world after the US in terms of ident Olusegun Obasanjo) in 8.5-kilometre-long sea wall, 2035, according to an estimate cement importation but now 2002, and it is expected to be the project will be the size of by the Lagos State Govern- we are self-sufficient and by completed by 2022. Manhattan’s skyscraper dis- ment. this year, we will be the larg- trict that will include state-of- The refinery which has been -es est exporters of fuel in Africa The project would host a total the-art urban design, its own timated to cost as high as $13 with 8 million tons of exten- of nine designated industrial power generation, clean water, billion will have the capacity to sion”, Aliko Dangote—Africa’s zones occupying over 800 hect- advanced telecommunications, produce 650,000 barrel per day richest man and Chairman of ares of land that would enjoy a spacious roads, and tree-lined of crude oil. Dangote group—said while 100 per cent tax exemption and streets, that will transform the Not only will the refinery give listing five key infrastructur- preferential policies. state to one of the mega cities a face life in the Lekki-Epe axis al projects to be executed by Another notable project that in the world. of the state, it will also help in him, to boost development in being the cynosure of all eyes closing the supply gap in Afri- Africa. and have caught the interest of Across Eko Atlantic, indepen- ca’s oil market. both domestic and foreign in- dent reliable electricity, ad- Lekki Free Trade vestors is the Eko-Atlantic. vanced fiber optic telecoms, It will also help in lifting mil- Zone and clean water utility services lions of Nigeria out from the Eko Atlantic are already installed below poverty trap by creating em- This Free Trade Zone is the street level. With the founda- ployment opportunities in first private owned free trade Nigeria’s International Com- tions in place, this magnificent a country where unemploy- zone in Nigeria that is de- merce City, Eko Atlantic or engineering and technological ment is staying as high as 23 signed to serve as an inte- Eko Atlantic City, is a mas- city is now rising. grated hub with active road, ter-planned coastal city built GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 35

designed to meet the logistical on Lagos and Kano states,” said of the Lagos State Ministry of This new city has evolved rap- needs of deep-water offshore Akinyemi Ashade, commis- Education aimed at making idly from a visionary design oil and gas operations and sioner for finance, Lagos. coding education accessible to concept into a technological projects in and around Nigeria. one million Lagos State resi- reality. Infrastructural road An example of a successful state dents and to prepare the youth- works and underground sur- By providing world-class facil- partnership was the agro-eco- ful population in the state to face drainage pipes are already ities and services, facility will nomic Lagos-Kebbi partner- meet new workforce demands, laid along major routes across encourage the multinational ship that produced “Lake Rice.” harness the benefits of technol- the new city. All bridges in firms exploiting the deep-water The partnership provided resi- ogy and communicate in the Phase 1 & 2 of the project have oil reserves to utilize Nigerian dents of both states with access language of the future. been completed. And the Great companies to service their op- to rice by bridging the supply Wall of Lagos sea revetment, erations, creating jobs for Nige- gap during the economic re- CodeLagos is positioning res- which is being built more rians as well as ensuring train- cession that gripped the nation. idents of Lagos State to ap- than two kilometers offshore ing, knowledge and technology proach the future of work as at eight-and-a-half meters transfer into the country. While a state or any economy problem solvers to develop above sea level, has surpassed cannot boast of recording de- innovative solutions to local 6 kilometers in length and is Apart from it being developed velopmental growth in infra- problems now protecting over 6 million to support long- term sustain- structure without making a square meters of Eko Atlantic swift reference to its education The initiative which kicked off able industrialization across and Victoria Island. and health sector—two key in May 2017 with about 65 gov- Nigeria, it will also to drive sectors required to drive devel- ernment and private schools both local and global prosper- For savvy investors, Eko At- opment in human capital—it across six education districts in ity; the projects align with the lantic City represents far more should be worthy to note that Lagos State has since scaled up UN’s Sustainable Development than just surging Lagos land Lagos has made a giant stride significantly. It now runs in 648 Goals of ensuring environmen- value. As Nigeria continues its in this regard schools across the State, teach- tal sustainability. unstoppable trajectory to be- ing Scratch, Python and Ora- come the financial capital of Lagos-Kano In order to further boost ed- cle’s Alice and Greenfoot. Africa, investing in Eko Atlan- Investment Summit ucational skills, the governor tic opens unprecedented op- Ambode-led administration Lagos continues to ride on portunities for tapping into the started the Code Lagos in May strategically planned initiatives Nigeria knows an economic al- wider potential of the continent 2017. coupled with efficient execu- liance between two of its most as a whole – widely recognized tion to drive the state’s econo- populous cities with most eco- as the world’s most promising Code Lagos my into becoming one of the nomic activities needed to be growth horizon. worlds’ leading economies. strengthened to aid more in- The CodeLagos is an initiative clusive growth and such suc- cessful relationship will also Lagos Deep Off- spill over to other states in the shore Logistics Base economic value chain of both (LADOL) states. Lagos – Kano Invest- ment summit was initiated to Built out of a disused swamp solidify this economic partner- on a secure island inside Apapa ship. Port; this new, state-of-the-art Free Zone is strategically lo- “If Nigeria must continue to cated at the point of entry into make progress on the ease Lagos Harbour to provide ful- of doing business, Lagos and ly serviced facilities and heavy Kano are vital. Our ranking im- infrastructure designed and proved in the last rating. Both deployed to support the largest Lagos and Kano states contrib- industrial projects in the world. uted to our improved ranking on the ease of doing business. LADOL is the first fully inte- If we must sustain that prog- grated, independent and se- ress, we must really focus more cure base that is specifically Eko Atlantic 36 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

know, majority of those businesses are Lagos has put significant actually in the services sector in Lagos, those that are really contributing to the prosperity of the Lagos economy are ac- emphasis on security to tually in the services sector. So, be looking at the financial services sector, that is, banking, insurance, stock promote investment - Yusuf exchange, ICT, telecoms, trading com- munity (Commerce). These are the key drivers of the Lagos economy. Manufacturing is a bit of it, but manufacturing is more in Ogun State than Lagos. For oil and gas, operational- ly, they are not here in Lagos, they are in the NigerDelta but their head offices and principal offices are here in Lagos. But in terms of operational activities taking place in Lagos, it’s more in the services sector. The fact that Lagos is also the port city hosting the maritime sector is also contributing in great deal to the economy of the state because Tin Can, Apapa port, together account for close to 70 percent of our international trade transactions and of course, the biggest airport or the busiest airport is also in Muda Yusuf - DG LCCI look at the model in Lagos, you cannot Lagos which is the Murtala Muhammed compare it with any internally generat- International Airport. Lagos is now the 5th largest ed revenue of any Nigerian states. Some- The fact that Lagos is a port city, has the economy in Africa if it were to times, people say that when you combine biggest airport, a large concentration of be treated as a country. How about six or seven states, it is not even up the services sector make it the finan- did businesses fare in the last to the IGR of Lagos State which is over cial hub of the country. It is also like a 4 years and what role did LCCI N300 billion. gateway because all the activities taking play? So that is a reflection of the robustness place in Nigeria and neighboring coun- of the economy of Lagos State and the tries, a lot of things happen around this axis, i.e. Badagry-Semen axis. Of course, It is difficult to isolate discussion on -La performance of the private sector be- we have the Idi-Iroko but Badagry axis gos businesses from businesses in the cause it is the private sector that pays the has the biggest in terms of cross border economy because Lagos is like a heart- taxes, and do not forget that this is just transactions. These are the things that beat of the economy. It is the commer- a fraction of the taxes that the private give Lagos the kind of status it has and cial and nerve centre of the economy. sector pays in Lagos State. The compa- also the population. We may not be able to circumscribe as it ny tax does not go to Lagos State Gov- were or discuss Lagos in isolation of the ernment, the education tax does not, the Are there anything the Lagos larger economy of Nigeria. Value Added Tax (VAT) as well does not State Government has done or Generally, I will say that businesses have go to the Lagos State Government. Most is doing to create more oppor- been doing fairly well in Lagos, and as of what goes to the Lagos State Govern- tunities for businesses ? we know, the prosperity of businesses ment is the PAYE and maybe the prop- The government is investing a lot in se- also reflects in the performance of gov- erty tax. Generally, businesses in Lagos curity. I am not sure that there is any ernment. In terms of tax revenue, if you have been doing very well and as you state that supports the security agencies GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 37

as much as Lagos State and my will be like ? should do? that is informed by the fact to The opportunities are enor- What is your assess- What the government should boost investors’ confidence, mous and it will rub off on ment of this current do is to ensure that all the security is key. No matter all sectors because as econ- administration gen- people that should pay tax your investment promotion- omy activities grow, Gross erally? are paying tax because the al campaign, if the state is Domestic Product (GDP) challenge we have in Lagos is not secure, investors will not naturally will grow. Oppor- I think the current adminis- that the few people who are come in, be it domestic or tunities to make money by tration has done a lot. What in the formal sector are the foreign. Lagos has put signif- all the key economy oper- Lagos has going for it is con- ones carrying the burden of icant emphasis on security to ators will improve because tinuity. Right from Asiwaju taxation and we are dealing promote investment. there is a relationship be- Bola Ahmed Tinubu to Fas- with an economy that is al- tween the prosperity of the hola and to Ambode is con- most 50 percent informal. The Nigeria Police Force in state and the prosperity of tinuity. Ambode has done There is no framework to Lagos will not be anywhere the citizens. The capacity of quite a lot in terms of phys- ensure that the 50 percent without the support of the the government to also pro- ical infrastructure with very informal sector is properly state government. They have vide the welfare of the cit- great initiatives. He made within the net. So, it is the this Lagos State Security izens will be enhanced be- big moves, although we have formal sector that is carry- Trust Fund with billions of cause there is a relationship issues on taxation, and so ing the burden and when naira supported by the pri- vate sector. So, security is number one. The second ma- jor thing is investment in in- frastructure. There has been a lot of investment in infra- structure even though there has been a lot of congestion, and the government is do- ing a lot to attract investors to the free trade zone. The Lekki Free Trade Zone is a major initiative of the Lagos State Government to attract investors here and a lot of progress is being made. For example, Dangote is among, between the revenue that on. Such issues always arise you continue to shave the head and so also other manufac- government gets and the lev- between stakeholders in the of the same set of people, af- turing companies. So, it is el of economic activities that business community and the ter sometime, there will be no more of infrastructure and take place. The members of government. Of course, we hair to shave. We need a frame- security. Those are the two the chambers are business want to pay tax but we do work to ensure that we get the big things the government people, our membership are not want too much burden. informal sector segment in the has been doing. corporate. And so, if you are tax net because many of them Tax issues have al- With all these invest- operating in an environment don’t have proper records, pay- ways been the issue ments coming up, like that is prosperous, you will rolls and published accounts. for businesses. So, Dangote refinery, have more quality members It requires a lot of creativity to what will you sug- Eko Atlantic, what in the chamber and more bring them on board. We need gest the government should we be expect- members who will support to look at this economy and en- ing the Lagos econo- the chamber financially and sure that we have a true federal otherwise. receipt. 38 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Lagos is the home to Nigeria’s biggest seaports and there are hardly any nota- How Lagos ble businesses in the country with im- port and export orientations that do not have connection and interaction with Lagos ports. The seaports in Lagos, al- waterways are though owned by the Federal Govern- ment and managed by FG’s agencies or concessionaires, the movements into enhancing its and outside these ports create more eco- nomic opportunities for the state gov- ernment. The major seaports are Apapa, Tin Can Island, Lillypond and Tincan regional influence Bonded Warehouse. These ports do not only serve Nigeria but also countries in West African sub region. Apapa Ports controls over 75 percent of the nation’s export trades annually. Tincan Island and Lillypond terminal account for 1.2 percent and 0.1 percent of the export trades yearly. Further, 47 percent of the nation’s imports usually come in through the Apapa ports; 21 percent through Tincan; Tincan Bonded Warehouse , 6.2 percent while Lillypond terminal does about 1.8 percent of the nation’s import activities. While the above applies to the trading activities through the high seas, revenue accruable from these activities goes to the federation account; there are a whole The economy of Lagos stands tall among the six sub lot of economic activities being carried national governments in the South West region. out through the lagoons and major riv- ers. A typical visit to any of its sea or hen it is compared with to the forward looking leadership, me- lagoon shores will show the different the seventeen states in ticulousness in planning, doggedness in kinds of economic activities such as fish- Wsouthern Nigeria, not even policy and programme implementation ing, sand fishing and movement of peo- the oil rich Niger Delta states come close especially in the last four years whose re- ple and goods. Fishing in the lagoons are to it, and collectively when you assess it sults have catapulted the state to becom- done by the locals who mostly use local alongside the 36 states and the Federal ing the fifth biggest economy in Africa. wooden boats and nets of different siz- Capital Territory (FCT) Abuja, Lagos Meanwhile, one of the catalysts that es depending on the sea animals being State is primus inter pares. This status propelled Lagos to its new status is the targeted, and this also depends on the is undoubtedly true for any institution contribution of its water economy par- seasons of the year which influence the located in Lagos, cutting across various ticularly, water transportation. A coastal movements of aquatic animals. sectors, from its airport, seaports, mar- state whose aquatic grandeur could not Looking at the mode of transportation, kets or the tourism sector. be resisted by the Europeans and other there are locally made canoes or boats, Today, Lagos State’s economy is an outlier Africans, the injection of life into Lagos modern ferries and yachts by the top as its humongous economic size makes waterways has not only given commut- notch individuals. The yachts can most- it difficult for any meaningful compari- ers and businesses the opportunity to be ly be found around Falomo, Victoria Is- son to be made with any state in Nigeria. more productive; it equally shows what land and Lekki, due to the concentration Its GDP has leapfrogged more than any other coastal states in Nigeria could do of the headquarters of the leading in- state in Nigeria and the credit for mov- with their water resources which so far digenous and multinational companies. ing Lagos to this enviable pedestal goes idle away. The three aforementioned areas have the GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 39 leading housing estates in the country where the mid- dle and upper classes live. It is also the axis of the state where the Lagos Yacht Club Nigeria is situated.

Lagos waterways

To get the Lagos economy up to where it is in the last four years, concerted efforts were made to demarcate the routes for better under- standing by commuters. This includes estimating the dis- tances between jetties and times it will take to move from one point to the others. At present, Lagos State has 35 routes whose travel dis- tances range from 0.4231 km about 17 - 20km travelled in goons, rivers, seas and estu- made of wooden materials, to 30.069 km corresponding less than 20 minutes aries. while Addax Jetty and CMS to 54 seconds and 33.48 min- Each of the other routes There are eight commis- Jetty are concrete. utes respectively and travel is less than 8km and lasts sioned state-owned termi- The fifth categories are re- time are at an average of 19 for about 8.6 minutes. The nals. These are Elegbata/ garded as terminals/jetties minutes, according to the routes in this category are Ebute Ero terminal, Ebute without LASWA oversight. data provided by the Lagos Ebute Ojo to Ijegun Egba; Ojo, Oworonshoki, Ikoro- These are thirty in number State Government Water- Ebute Ojo to Ibasa; marina du Ferry, Badore, Osborne, just as all of them are made ways Authority (LASWA). CMS to Liverpool; Baiyeku Mile 2 and Falomo. While up of concrete materials. The farthest route is Ba- to Ajah; Ebute Ojo to Irewe; Ebute Ojo Ferry Terminal dore to Five Cowries covers from Liverpool to either Five and Falomo Ferry Terminal Leading fish markets 30.069km and lasts for about Cowries or Igbo Elejo; Ma- are of floating nature, others in Lagos 33.48 minutes and an exam- rina to Tarkwa Bay; Badore in this category are made of ple of the least distance is to Ijede in Ikorodu; Baiyeku concrete. Lagos boasts of notable mar- marina CMS to Liverpool in to Langbasa; Agboyi Ketu to The second categories are kets where fresh fish can be less than 8 minutes to travel Mile 12 ; Liverpool to Olodi state owned jetties and are bought. The most promi- over 8 km Apapa; Ijora to Ebute Ero; fourteen according to LAS- nent of these markets is the The farthest routes include and Ijegun Egba to Ibasa. WA. Ijegun Egba and Ibeshe Oluwo Market in Epe. This Marina CMS to Ikorodu , jetting are of floating types; market does not only serve Ebute Ojo to Marina CMS Jetties/terminals in Ipakodo and Langbasa are the Lagos population, buy- via Ijegun Egba, Ikorodu Lagos wooden while others con- ers travel hundreds of miles Metro to Addax, Agboyi crete. such as residents of Ogun Ketu to Five Cowries, Ajah Jetties and terminals are cat- The third category is the and Ondo states to buy fish to Oworonshoki, Ebute Ero egorised into five groups in landing-public access. These from this market mostly by to Ikorodu, Agboyi Ketu to Lagos, thus expanding the could be found in Coco- water. In this market, fish of Marina CMS, Baiyeku to maritime space for many nut Apapa, Slave Route in different kinds and sizes are Addax, Oworonshoki to Five sectoral players to choose Badagry; Alex Jetty in Apa- daily sold to households, re- Cowries, Ibeshe – Addax, their scale of participation. pa, and Ijora landing. tailers; wholesalers as well Mile 2 to Addax/Falomo, This model takes into cogni- There are four non-state as notable hotel brands who Addax to Igbo Elejo, Marina sance the riverine communi- owned jetties in the state. want special delicacies for CMS to Oworonshoki, Mile ties whose entire economic These are Temidire Ajegunle their top notch clients. 2 to Marina CMS averaging activities revolve round la- and Origin, which are both A visit to Oluwo Market in 40 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Epe revealed that better access to Epe the waterways. Sea Coach decided to seek to address waterways waste chal- division because of the new roads is the raise the bar by providing water trans- lenges by educating the public on hy- reason many Lagosians now throng the portation system through which people giene and safe practices to engage the market and others within its environs to could be moved across the waterways waterways whilst also actively picking get fresh water fish. with more convenience, safety and plea- litters and cleaning the waterways and its “Since Epe roads have been given a sure. We have 35-seat capacity, equipped immediate environment”, LASWA said. facelift, I come to this market every fort- with GPS, compass, search light, naviga- Another measure put in place is the night. You know, there are some species tion light, among others”, Alaka said. stakeholders’ forum which is aimed at of fish you cannot get in Lagos metrop- Shortly after, SIFAX Group won the con- improving water regulation, security olis unless you come to this place. Be- cession of Ebute Ojo jetty, it started the and safety standards in the state. At such sides, you are sure of their freshness”, a provision of water transport services forums, the role of water transportation senior oil and gas worker who preferred with two modern ferries between Ojo in Lagos State’s economic development anonymity, said. town in Ojo Local Government Area as well as guidelines for ferries and in- “I’m here for sightseeing. This is how I to other parts of the state. The compa- frastructure operations, its operational get to know more about Lagos, many ny was motivated to invest in this sector challenges and water safety and advoca- thanks to the good roads in this place. I due to the massive development of the cy are appraised for better service deliv- just couldn’t imagine fish as big as those waterways by the Lagos State Govern- ery by players in this sector. over there are caught in this place”, Omo- ment under Akinwunmi Ambode. To constantly renew access of the water- lara Abiodun, whom we met at Oluwo There are world-class yachts in Lagos for ways for ferries and passengers, water Market, said to BusinessDay Research the super wealthy among its residents. hyacinth is constantly removed. Doing team in response to our enquiry. Africa’s richest man and the president this increases the lifespan of the engines of the Dangote Group, Aliko Dangote is of ferries, makes communities in the riv- Notable private investments among the few Nigerians to own a yacht. erine areas devoid of dangerous reptiles in Lagos Waterways Femi Otedola, oil mogul also has one, which could find abode in the water hy- but slightly smaller than that of Dan- acinth , as well as create jobs for the local The reforms in the Lagos waterways gote’s. labourers who are usually engaged to do have started to yield fruits, which could the job. be quantified basically by the amount of Confidence boosting measures new investments into the sector. Nota- that are promoting water ble among these investors are Sea Coach transportation in Lagos Ferry Service, SIFAX Group, Texas Con- nection Ferries, Equus Marine, Green The Lagos waterways are regularly ex- Transport and Halo Waters (WAXI). posed to industrial and domestic wastes. Sea Coach commenced operations in In this regard, there is need for regular March 2015, before Governor Akinwun- orientation of the households and firms mi Ambode was sworn in, according to towards making Lagos waterways hitch the information provided by Bolaji Ala- free. This is done through LASWA’s Passengers waiting room ka, general manager, Sea Coach Nigeria cleaning up exercise and orientation Limited, with a fleet of nine coastal fer- programs. ries. The ferry plies Ikorodu to Marina “ LASWA initiated a one-day campaign CMS, Falomo,, Apapa, Victoria Island called “Keeping the Waterways Clean”. and Lekki. This initiative was as a result of the “We started operations in March 2015 current non-desirable state of our wa- with nine coastal ferries. Later in that terways. The Lagos waterways are con- year, we added one to make it ten. With stantly exposed to industrial waste from additional boats in 2016, we have a fleet companies, human wastes, litters such as of fifteen boats as I speak”, Bolaji Alaka cans, bottles, empty food wrappers have said. The increase in the fleet size from become a common sight on our water- nine to fifteen was a manifestation of the ways. All these affect the aesthetic value amount of the opportunities in the wa- of the waterways whilst also endanger- terways of the Centre of Excellence. ing the marine life and usage by boat op- “Of course, before us, there had been erators and passengers. movements of people and goods across “The clean-up exercise and campaign GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 41

Growth of Lagos Tourism built on six Pillars

Culture and heritage

Business Tourism Lagos Tourism

Lagos, West Africa’s commercial hub, is currently the 5th largest economy in Africa under the Ambode-led administration.

Film, Art and Entertainment s a matter of fact, ter –Governmental Affairs – any other developed country Lagos has gained where tourism was and culture of the world. Statutory bodies A momentum in in Home Affairs. What he did were inaugurated to regulate was to pull culture out of the and intervene in the matter of every sphere of its economy. Home Affairs and tourism out promoting culture and tour- The sight of Lagos at night is of Inter-Governmental Affairs ism. Similarly, the Lagos State enthralling, the music, cui- and made it a whole ministry tourism master plan has also Nature and sines, commerce and industry with a commissioner and spe- been completed. Part of what Adventure even the night hold a lot of cial adviser, which was crucial led to the tourism master plan promises for visitors and this in driving the sort of vision he was the tourism summit which was achieved with Ambode’s had. He was able to create a was held in April 2018. quest to make Lagos a smart ministry solely responsible for city and grow it from the 5th tourism, arts and culture. This Interventions geared to the 3rd largest economy in was a quick win for him. Africa. towards galvanizing Medical and wellness the creative economy Intervention in the Governor Ambode’s The administration also en- area of policy and law commitment to sures there are activities that growing Lagos could create a buoyant econo- For the first time in the state, my that are driven by tourism. Tourism and the Lagos State Promotions Lagos is well known or better Entertainment Agency and Tourism bill has known for cultural tourism and been passed. It was a bill initi- Beach and leisure sector entertainment. In 2018, for the ated by the executive which es- first time, the administration The governor met a ministry sentially seeks to put Lagos on came out with a calendar of art that was hibernated with In- the same pedestal with cities in and culture event published 42 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK digitally and in print so that week before the yuletide sea- Eyo Festival The Eyo festival is orga- any visitor who is planning on son. The direct contribution of nized under the auspices visiting Lagos will have idea Lagos tourism to the GDP of Eyo Festival is indigenous to of the Yoruba tradition, as on what is happening in what Nigeria in 2016 amounted to the people of Lagos Island, well as social organizations month, and that has assisted $2 billion, 2017 ($2.2 billion) or clubs. It is an outlet used visitors coming into the coun- which is forecast to increase also known as Isale Eko. The try to know what to expect. further to $3.4 billion in 2026. event is often celebrated on to showcase the culture of Lagos is known as birth place Findings shows that tourism very special occasions. the Isale Eko people, since of Afrobeat, Nollywood and and travel related ecosystem The Eyo is the masquerade it can be organized for spe- also the heart beat of core en- tertainment. There were specif- ic interventions and supports the government granted and also hosted the Africa Mov- ie Award (AFRIMA) back to back, and the Africa Academy Award (AAA). We created what has become the Africa biggest end of the year concert in Lagos through One Lagos Fiesta (OLF) – This was an improvement on the Lagos countdown which start- ed in 2013 as a one-day event at one venue. The governor in his campaign promised an inclusive gov- ernment, hence the OLF was spread across other regions of contribute directly or indirect- that comes out only in Lagos cial occasions apart from Lagos like Epe, Ikeja, Badagry ly to the economy in terms of Island. It is believed to rep- the death of prominent so as to have a feel of what employment/job creation. Its resent the spirits of the an- chiefs, elders, or installa- the Island enjoys. OLF lasted contribution is encompassing, cestors. The Eyo festival may tion of a new Oba. It can for five days in 2015 and from as it positively affects other be held in honour of a chief be used to entertain at 2016, it was made a whole sectors of the Lagos economy week, 8 days of massive fun from transport, hospitality, or an elder of a ruling fam- special state functions or across the state; nothing is big- sports, entertainment, visual ily or an Oba, who is dead. occasions. ger than it in Africa, which was performing art, bloggers, me- It may also be held when a made free to the public at any dia personalities and security new Oba is installed. Eyo is given time more than 150 top outfits as more people will be usually held on a Saturday. rated artists performed. needed to handle specific job designation. Contribution of Tourism to Lagos Direct contribution of Lagos economy tourism to Nigeria economy In the last quar- ter of 2018, Lagos Activities within the tour- State Government ism sector contributed about captured a total spending in excess $2.2 billion to the state Gross of N50bn in cash Domestic Product (GDP) in transactions, this 2017. In the last quarter of $2 $2.2 volume was achieved during the preced- 2018, Lagos State Government billion billion captured a total spending in ing week before the yuletide seasoning. excess of N50 billion in cash 2016 2017 transactions. This volume was Mobolaji Bank Anthony Fly Over, Ikeja achieved during the preceding GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 43 Oshodi Transport Interchange through a Public Private Partnership (PPP) initia- tive between the Lagos State Government via Ibile Holdings, Translink Capital Development Limited and Planet Projects Limited. The rebranding of the city into an iconic internation- al gateway to the rest of the world is hinged on a 3-key agenda: urban renewal, en- vironmental regeneration as well as transformation and security. According to the Lagos State Government, on a daily ba- sis, Oshodi accommodates about a million pedestrians, 100,000 passengers who uti- lise the 13 parks, while 76 he Lagos State Gov- will be continuation by oth- The project which is near- per cent of the area is ded- Ternment is changing er government to make sure ing completion would make icated to transport. When the face of Oshodi with the that the city runs smartly and available access to efficient operational, the project will on-going construction of then we can only invest more and effective transportation serve at peak time an average the 70,000 square metres in e-governance to be able to to all Lagosians, especially of one million people with transport interchange. Os- make the city smarter”, Gov- major stakeholders including each of the three terminals hodi, a melting point of La- ernor Ambode said. passengers, transport unions, serving 300,000 passengers gos, allows commuters to The interchange comprises transport operators as well as daily as 300 buses would be transverse within and be- three major sections which shop owners as it would en- departing the terminals ev- yond Lagos to other parts of are: sure an organised transport ery hour. Nigeria. Oshodi Transport · Terminal One will run from system that will ultimately The new plan will not only Interchange (OTI) features the Mosafejo Market axis and manage traffic. Each bus ter- increase the economic value the consolidation of 13 in- will be used for inter-state minal will be 30,000 square of the state, the travel and terstate parks, 3 multi-sto- transport activities. metres and will include stan- leisure experience will be ry bus terminals, shopping · Terminal Two will run from dard facilities such as waiting greatly enhanced and it will mall among other facilities the former Owonifari Market areas, loading bays, ticketing be conducted in a serene and to regenerate the area into a and will be used for intra-city stands, driver lounge, park- secure environment, which world class Central Business transport activities. ing areas, rest rooms, among will further boost tourism, District (CBD). · Terminal Three will run from others. thereby positioning Lagos as “Lagos has to run like a smart the area adjacent to NAFDAC Under the Ambode’s Bus West Africa’s transport and city. We made attempts in and will also be used for in- Reform Initiative (BRI), the tourism hub. that area and again there tra-city transport activities. $70 million project thrived 44 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

intervention in touris. The first thing he did which I think was instrumental to assisting Ambode’s him to achieve all he planned for was to have the ministry that is wholly dedicated to matters of tourism, arts and culture. He met a Ministry that was hibernating with In- interventions in Lagos’ ter-Governmental Affairs which was where Tourism was, while Culture was with Home Affairs. So what he did was to pull Culture out of Home Affairs and Tourism out of tourism industry are Inter-Governmental Affairs and made it a whole Ministry with a Commissioner and a Special Adviser which I think was crucial in driving the sort of vision that he had. Hav- indelible ing done that, I think he set out basically in three key areas of interventions. One, inter- ventions in the area of policy and law; two, interventions in the area of infrastructure development; and three, interventions in the area of activities galvanizing the creative economy generally and you can measure the gains and the achievements.

Lagos State Tourism Promotions Agency

In the area of policy and law, to the glory of God, for the first time in the history of the state, the Lagos State Tourism Promotions Agency Bill has been passed. It was an ex- ecutive bill wholly initiated by the executive from the Ministry and the Governor’s Of- fice which essentially seeks to put Lagos on the same pedestal as any other entity be it in a state or country to have outside of the Ministry, which is the statutory government body that regulates and intervenes in mat- ters of promoting culture and tourism. You would also have a Tourism Board that actually does the promotion of the sector which is what this agency whose bill has been passed by the Assembly and has been Steve Ayorinde, Commissioner for Tourism, Arts and Culture signed into law by the Governor. So, it’s one of the key things that the Akin- wunmi Ambode administration is be- What would you say have been ised. If you recall, tourism was one of the key queathing to the incoming administration the key projects and policies that issue he campaigned with in 2014/2015. of Mr BabajideSanwo-Olu. defined the administration of Specifically, he used PROJECT T.H.E.S.E Governor Akinwunmi Ambode in which stands for Tourism, Hospitality, En- Lagos State Tourism Master the tourism industry? tertainment and the Arts plus Sports to Plan achieve excellence. I think basically the key projects that I can Similarly, the Lagos State Tourism Mas- point at will be the fact that Governor Am- The first thing was to be specific as to what ter Plan has also been completed which is bode has stayed committed to what he prom- he wanted government to achieve as an en- also something that he would bequeath to abler, as policy maker and as the organ for the JideSanwo-Olu administration. It took GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 45

if you talk of Dubai tourism or bigger than what Terra Kulture South African tourism or New has and it means that we are York tourism, those are agen- increasing the arts spaces that cies that promote tourism; they we have in Lagos State for per- do not organize events, all they formances, for exhibitions, for do is to promote the sector so rehearsals, for trainings, and that people can begin to come. for different things in Epe, in But, of course, what we did was Badagry, Oregun and in Igan- that we didn’t wait for these do. Land has been provided for two important interventionists the fifth one in Ikorodu, which movement to be ready – that is again is something that the the agency and the master plan. incoming government would have to do. Creating Enabling En- vironment, Building Theatres Upgrade of Glover Me- morial Hall Part of what we have done, as I have said, was to make sure We did not stay at that alone, that while we were waiting for we have also touched a space the master plan and the pro- which is perhaps the oldest motion agency, we needed to cultural space in Lagos, which first and foremost use the first is the Glover Memorial Hall. In three years of the adminis- 1903, that was where the first tration to create an enabling film screening in the country environment for tourism and by the Colonial Film Unit was creative economy to thrive. So, done. It belongs to Lagos State, two key things as I said, in the but what the administration area of infrastructure devel- of Governor Akinwunmi Am- opment, you would see that bode has done is to now re- we would be unveiling four of store Glover Memorial Hall on the five theatres that we prom- Customs Street close to Broad ised to Lagosians by the end of Street in the very heart of La- April, 2019. What this means gos to its lost glory. It’s a total that rather than have one the- refurbishment and upgrade MKO Abiola statue, Ojota Lagos atre that can take performances without losing the value and and so on and so forth, what we the essence of what the Glover clearly more than a year to do a about how to grow the tourism have done is to have four 400 Memorial Hall stood for, and thorough job by the consultant economy, how to grow the cre- to 500-seater multi-purpose that will be ready by the middle that we engaged and part of ative economy in Lagos State theatres in different parts of of May and unveiled to Lago- what led to the Tourism Mas- and the key areas where invest- Lagos State which is the first sians. So, it means that we are ter Plan was the Tourism Sum- ments are needed all these built time we would have that sort of increasing, because you could mit we had in April of 2018 on six pillars on heritage, arts intervention at a time that the argue that four theatres were in which everybody that had and entertainment, medical National Theatre, for example, given to other places outside something to do with the tour- and wellness and different ar- is not working at optimum ca- of Lagos Island, our argument ism sector, I mean the tourism eas of tourism. pacity. is that Terra Kulture that was ecosystem was invited, opin- The Promotions Agency will the inspiration to the other ions sought and suggestions play a crucial role together And so we have four Eko The- theatres is on the Island even here and there so that we could with the Ministry in driving atres that are modeled after though private, but then, we have a document that would the next four years under Mr Terra Kulture which is about have got Glover Memorial Hall enrich the discuss that would Sanwo-Olu in promoting tour- the only functional private- which actually sits more people make the master plan sustain- ism. The key documents that ly-owned theatre still operat- than the theatres that we have able. So, what we have there- are required and the law that ing, perhaps, in the country in built and we have now restored fore is a master plan that has would drive it, we have provid- a decent, tidy and world-class it so that it can be fully func- defined what needs to be done ed which is important because manner. But ours is slightly tional from the middle of May. 46 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Ambode’s legacies in photos

Ikeja Bus Terminal Commissioning GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 47

Ayinke House LASUTH Ikeja

Fully equipped by the Ambode’s Administration 48 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK Cosmopolitan Lagos

Lekki-Epe Expressroad showing Jubilee Bridge, Ajah

Lagos State was created on May 27, 1967 via Decree commercial nerve centre. N0.14 of 1967 which divided Nigeria into 12 states. For ease of administration, Lagos State, which covers a land area of about The state became the administrative owever, before this creation, 351,861 hectares, is split into five ma- entity on April 11, 1968 with Lagos Is- the Lagos municipal was gov- jor divisions. The divisions are Ikeja, land serving both as the state and Fed- Herned as a federal territory by Badagry, Ikorodu, Lagos (Eko) and eral Capital. But with the creation of the the Federal Government of Nigeria via Epe, which form the acronym IBILE Federal Capital Territory (FCT), Abuja the Federal Ministry of Lagos Affairs as The Ikeja Division is a predominantly in 1976, Lagos Island ceased to be the the regional authority, while the Lagos Awori enclave. The division consists capital of Lagos, as this was moved to Council administered the city of Lagos. of eight local governments listed in Ikeja. With the formal movement of the The metropolitan areas of Lagos (Colo- the Constitution of Federal Republic seat of Federal Government to Abuja, on ny Province) consisting Ikeja, Mushin, of Nigeria. They are Agege, Kosofe, December 12, 1991, Lagos ceased to be Ikorodu, Ojo, Epe, Badagry and Agege Mushin, Oshodi-Isolo, Somolu, Ifako Nigeria political capital. However, the were all then administered by the West- Ijaiye, and Alimosho. However, there ern Region Government. state remains Nigeria’s economic and GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 49

are 15 other sub authorities, clude Ikorodu West, Ikoro- local government areas are However, based on the referred to as Local Coun- du East, Imota, Ijede and Epe and Ibeju-Lekki while UN-Habitat estimate, Lagos cil Development Authori- Igbogbo-Baiyeku. Ikorodu is the three LCDAs include population was put at about ties (LCDAs) created by the populated by the Ijebu and Lekki, Ikosi-Ejirin and Ere- 24 million in 2015. state government in an effort Remo groups. do. Epe lies about 89 kilome- This is largely due to migra- to further take governance The Lagos Division is the tres north-east of the city of tion from other parts of Ni- closer to the grassroots. kernel of Lagos State. This Lagos. Its peculiar feature is geria and surrounding coun- The Badagry Division, which highly urbanised division a long range of hills, which tries. Asides Yoruba, Igbo also has the Aworis in ad- has five local government divides the coastal town into and Hausa-Fulani, several dition to the Ogu, extends areas and eight LCDAs. The equal parts. other minority tribes have in the west to the Nigerian five local government ar- come to see Lagos as their border with Benin Republic. eas include Eti-Osa, Apa- Lagos, originally inhabit- home. The division consists of four pa, Surulere, Lagos Island ed by the Aworis, is today There are over 250 ethnic local government areas, in- and Lagos Mainland. The populated by Nigerians of groups represented in Lagos. cluding Ojo, Amuwo-Odo- eight LCDAs are Itire-Ikate, diverse ethnic backgrounds It will not be out of place to fin, Ajeromi-Ifelodun and Coker-Aguda, Ikoyi-Obal- and foreign nationals. say Lagos mirrors Nigeria’s Badagry. The four local gov- ende, Iru-Victoria Island, Although the smallest of complexity, as there is hardly ernments were also further Eti-Osa East, Apapa-Igan- Nigeria’s 36 states, it has the any Nigerian family across split into six LCADs name- mu, Yaba and Lagos Island highest population, about the six geopolitical zones of ly, Iba, Oriade, Olorunda, East. The division is the 27 percent of the national the country that does not Ifelodun, Oto-Awori and heart of commerce in Lagos, estimate, according to the have at least one representa- Badagry West. as several of Nigerian blue United Nations –UN Habi- tive in the state. The third Division, Ikorodu, chip companies, banks and tat. In 2006, the population However, the Yoruba re- lies 36 kilometres north of insurance firms have their of Lagos was put at over 9.03 mains the dominant ethnic Lagos and derives its name head offices located on the million residents accord- group. from ‘Oko-Odu’ which Lagos Island. ing to the census conducted The complexity associated means vegetable farms. It The last of the five divisions by the National Population with Lagos as ‘mini Nigeria’ consists of Ikorodu Local of Lagos is Epe. It is consist Commission (NPC) which and its ever growing popula- Government Area and five of two local government ar- put the national population tion puts immense pressure LCDAs. The LCDAs in- eas and three LCDAs. The at 140 million people. on available infrastructure and facilities, as everything, including housing, potable water, electricity, transpor- tation etc, is in short supply. This leaves millions of the residents struggling to sur- vive in heavily congested ar- eas like Makoko, Ijora Badia, Amukoko. The population of Lagos is expected to double by 2050, which will make it the 3rd largest city in the world. It is for such reason that the government of Lagos and its representatives in the Na- tional Assembly have con- Jubilee Bridge, Abule Egba tinued to push for a ‘special status’ for Lagos. 50 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

There are others like the ings and business decisions and expand opportunities Cultural Events Olokun Festival, MUSON easier for tour operators and for job creation during the in Lagos Festival, Kayo-Kayo Festi- the general public. various events slated on the val, the Lagos Luxury Sum- The calendar is part of the calendar. There are several cultural mit/Fair; Felabration; Lagos state’s innovation to proj- Here is how Ayorinde puts it: events in Lagos. According Books & Arts Festival (LA- ect arts, entertainment and “The administration of Gov- to information from the state BAF) as well as the One La- leisure benefits inherent in ernor Ambode believes that ministry of tourism, arts and gos Fiesta. Lagos and makes the state the quantum of cash transac- culture, the cultural events The calendar is a novel ex- attractive to domestic tour- tions across the tourism and now have a full calendar that ercise designed to frontload ists; business travellers and entertainment value-chain, runs throughout the year. state and privately driven stop-over passers-by. as tracked in December 2017 The idea is to give would-be arts, culture and entertain- “The state is forging ahead of when about N50 billion was participants and enthusiasts ment events that will have expanding the consumption spent on entertainment and across the globe opportuni- positive effects on tourism of its tourism products by leisure alone, is a testimony ty to plan well ahead of time promotion. It is in fulfill- improving access to tourism to the huge economic gain for any of the cultural events ment of the state govern- information and creating an in promoting tourism in they wish to be a part of. ment promise to announce events guide for the media Lagos State. This and other Indeed, over 80 state-spon- a yearly calendar of events to and tour bloggers”. economic factors make La- sored and endorsed arts and guide programming, tourists The state is expected to lever- gos one of the most vibrant culture programmes are and visitors’ decisions. age on infrastructural devel- culturally significant cities lined up every year in the According to Steve Ayorinde, opment, regeneration of old in Africa with potential to bid to garner visibility for commissioner for tourism, and creation of iconic at- make enormous impact in tourism-oriented art pro- arts and culture, the idea of tractions for entertainment, driving in-bound tourists grammes in the state. the calendar of events, is to arts and culture enthusiasts from across the globe.” Some of the events as cap- make planning, tour book- to boost economic activities tured in the calendar include Gidi Culture Festivals, La- gos Water Regatta and Fanti Carnival and Arise Fashion Show. Others are the In- ternational Jazz Day cele- bration; the Lagos Comedy Festival and the Lagos Film Fest scheduled to be hosted at the Eko Theatres in Epe, Badagry, Opebi and Igando. The African Movie Academy Awards (AMAA) is listed to return to Lagos in June while the Lagos Festival of Plays and the Lagos Poetry Festi- val highlight the third quar- ter of the year. Others are the Lagos Fishing Festival (Os- horoko) in Ibeju-Lekki and West Africa’s leading tour- ism market fair, the Akwaa- ba Travel Market in Septem- Another Pedestrain Bridge, Alausa ber. GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 51 New Lagos Airport Road

directly to the internation- al wing of the Murtala Mo- hamed International Air- port (MMIA) had been long overdue, but successive governments had turned a blind eye and showed less concern. For many years, the road elicited concerns from all quarters and provided uncomplimentary headlines for local and international media. But all that has changed now, as the road has been rede- signed into a ten-lane car- riage expressway. It comes with a ramp bridge designed to provide a U-turn from Ajao Estate to the airport. ears after Akin- Incorporated is a flyover at it was an opportunity to the road in June 2017 and wunmi Ambode NAHCO/tollgate, and drain- change the narrative of the flagged off the reconstruc- Y would have left airport road. age works. tion work in September of office as the 14th Governor The new road has two pedes- According to Ambode, the same year. of Lagos State, he will con- trian bridges at Ajao Estate road in its former state not The new status of the road, tinue to be remembered for and NAHCO/Hajj Camp, as only lowered Nigeria’s image according to a resident of the significant contribution well as slip road to provide internationally, it also rub- Ajao Estate, John Ama- to the face of Lagos. access to Ajao Estate, lay- bished Lagos’ status as the di, “speaks to the undying In just four years, Ambode is bys and streetlights to meet economic power-house of commitment of Ambode to leaving the state better than required international stan- West Africa. changing the ignoble past he met it. One of his illus- dards. “I am well-travelled like oth- and giving Nigerians a sense trious projects includes the Interestingly, the airport er people and I have gone to of pride”. new Lagos airport road. road links up with the Os- other places and so it was al- For decades, the road had According to Ambode, every hodi transport interchange ways a sore in my heart that been left in a state of squalor time he travels and sees what which is also being complet- if I ever have the opportuni- despite being the route into is obtainable in other climes; ed by the Ambode’s adminis- ty, I will do something about Nigeria for international he’s always at a lost why the tration to provide a seamless the airport road. I am happy visitors and investors arriv- case in Nigeria is different. drive into the commercial I did it” ing the country through the And so when God gave him city. Ambode secured the ap- MMIA. the privilege to mount the proval of the federal author- Indeed, the upgrade of the saddle as governor, he knew ities to redesign and expand federal road which leads 52 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Lagos Night Economy

Adeniji Adele Bus Stop, After Third Mainland Bridge working days in a week. Residents and visitors try out different relaxation ven- Lagos, West Africa’s commercial hub, is currently the ues including bars, club houses and 5th largest economy in Africa under the Ambode-led restaurants to unwind and get a feel of administration. the night. These relaxation venues are usually classified based on their loca- nother attribute of Lagos to- transporters patiently waiting to con- tions, facilities, pricing and calibre of day is that it is becoming a vey the last commuter. A drive through customers visiting. Wherever you are 24-hour city – one that nev- the metropolis at night would reveal the A in Lagos, there is always a suiting place er sleeps. The night time is gradually pockets of night markets and trading within means to unwind. shrinking as activities continue to extend activities scattered across the mega city- A much deeper nightlife during yuletide into the night. As an attestation to this, state. December arguably has longer night- many travellers reveal their assurances time activities than any other month when travelling late into Lagos than else- Weekends begin on Fridays! in the year. In the spirit of the yuletide, where in Nigeria. This assurance tends traders endure longer trading hours to be majorly driven by the round-the- Friday nights are typically the longest, while entertainers launch different clock trading activities and the active unsurprisingly, as it is the last of five GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 53

events, typically at nights in trust fund – Lagos State Se- the hitherto dark alleys of Ikorodu road, Ikeja-Ogba, major relaxation and event curity Trust Fund (LSSTF) many streets in Lagos. In- and Ojodu-Berger area. To- centres across the state. As – which is open to public troducing the “Light up La- day, a significant number of the saying goes: “money is donation for better security gos initiative”was a smart the streets in Lagos are well no problem” especially with in the state. In 2016, the La- approach that incorporat- lit up and the project is still the growing cashless econo- gos Neighbourhood Safety ed residents in lighting up on-going. my in Lagos as most finan- Corps (LNSC) was inaugu- their streets. The Lagos State Transportation is yet anoth- cial institutions already op- rated to patrol the 20 local Electrification Board and er infrastructure that assures erate a 24-hour mobile and government areas and 37 lo- the Power Advisory Com- a thriving night economy in digital services that enable cal council development ar- mittee champions the Light Lagos. Though still largely simple cashless transactions. eas (LCDAs) on motorbikes up Lagos project. There are informal, the road trans- This lifestyle is further sup- and bicycles to swiftly gather helplines to call in the event port system is on average, ported by the availability of local intelligence while se- of any damage to power in- a 21-hour service system. a round-the-clock transpor- curing state properties and stallations and street lights. It is mainly dominated by tation in form of the tradi- providing neighbourhood Since the inauguration of the members of the Nation- tional yellow taxis parked at security. The LNSC, consti- the project in 2015, 68 local al Union of Road Transport these relaxation spots and tuting of people from the communities in Ibeju-Lekki Workers (NURTW), de- the access to a wider pool of locality, fills the gap of the area have received 86 new fined by the approved routes drivers through digitalized much-craved state policing. transformers, and a high they ply daily. However, the solutions like Uber, Bolt and The Light up Lagos Initiative tension network covering game is changing with the Gokada; these and more al- Street lighting was also an 131.5 Km. Other areas where new revolutionaries within low for night economy to approach to beef up securi- significant progress has been the Lagos transport ecosys- thrive in Lagos. ty and support nightlife in recorded include Badagary, tem such as Uber and Taxi- Nonetheless, the strength of the night economy builds on other infrastructural an- cillary services. The chief of these infrastructures is secu- rity.

L agos–fostering round the clock safety

Lagos is a cosmopolitan city; it is safe to live in. It has a relatively high mix of differ- ent ethnic groups and con- centration of capital which provides some form of im- plied security. In Lagos, peo- ple meet people; they bump into old friends and relatives, they make new friends and foster lasting relationships. The city-state has an exciting number of different security personnel ranging from road safety to environmental safe- ty corps. Lagos has a security Allen Roundabout, Ikeja 54 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

fy (now Bolt) which are also Emergency Services Night markets and restaurants, depending on having their slice of the pie in Lagos – swift, effi- restaurants the degree of formality are by offering commuters more cient and ready to act a major aspect of the thriv- convenience. Nearly all major markets in ing night economy of Lagos. The city anticipates a new, Lagos has functional emer- Lagos operate a version of There is a wide range of out- developed transport system gency services that operate night trading lasting into of-home relaxation service that matches and caters for 24 hours of the day. The La- hours of the night depend- outlets offering all kinds of its many commuters. The gos State Emergency Man- ing on the level of security assorted varieties at prices Bus-Rapid Transport (BRT) agement Agency (LASEMA) and the type of goods traded. that specify their market tar- has heralded a scheme of coordinates the response As in Oshodi, Yaba, Ojueleg- gets. The informal operators the metropolitan transport services in the state. They ba where markets have de- are common around main system; an improved sys- have emergency lines and veloped around rail lines, the markets, street markets – tem which is coordinated vehicles positioned strategi- goods are somewhat similar offering foods and drinks with the private sector par- cally across the state. Some of ranging from simple con- to traders happy about the ticipants, is underway. The these emergency services in- sumer goods to household day’s sales. The formal relax- target is that night intercity clude state fire services, am- appliances and clothing. In ation spots like restaurants transport would be properly bulance services, and mobile Mile 12, it is mostly a mar- and bars are often strategi- formalized and launched fol- hospital services. The police ket for perishable farm pro- cally located, often around lowing the complete electrifi- also have a Rapid Response duce. The catch across night premium locations offering cation of all major roads and Squad (RRS) which swings markets is the low price of- continental dishes and bar streets through the Light up into emergencies any time of fering–especially on perish- services to the working class Lagos project. Again, look to the day. All these are implicit ables such as fruits and vege- and expatriate communities the development of modern levels of safety and security table–compared to day time looking to unwind. bus-stops and bus terminals that put the megacity on the trading. in strategic locations around path to becoming a 24-hour On trade venues such as Lagos to get an idea of the economy. beer parlours, bars, pubs and metropolitan transport sys- tem that is in the offing.

Night life in Lagos GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 55

Rhapsody, among others. Entertainment and grows, competition increas- In all, the place to be at night The night economy in La- clubhouses es and the average room rate is a function of one’s ability gos is currently a multi-bil- falls (expectedly). Although, to pay and people’s subjec- lion naira industry with The entertainment industry prices are largely determined tive aspirations. As much as the significant potential to is flourishing and Lagos is by the location and facilities; people go to malls to win- be harnessed and expan- at the heart of it all. A city of today, there are room offer- dow shop, some also visit sion largely possible. So survival and hustle, every- ings at N6, 000 per night relaxation joints to experi- much is yet underway to one brings to Lagos his own compared to N10, 000 five ence the atmosphere. Some improve the necessary in- unique skills and offerings. years ago. exciting places to be at night frastructures that make for The music and the movie in- would include Kalakuta Re- a thriving night economy. dustry hosting different pro- Some places to public (Fela’s Shrine), Rufus Lagos can be among the grams and industry nights unwind at night & Bee, Quilox Club, The cities with the largest night with the attending buzz and Place Restaurants and Bars, economy worldwide. razzmatazz are great embers of the night economy. The success in this sector is spill- ing over into other basking subsectors – club houses are spinning off in every corner The entertainment of Lagos. They identify with industry is flourish- musical abundance, night parties, and bar services. The ing and Lagos is at state also inaugurated an the heart of it all. end of year festival (One La- gos Fiesta – a celebration of Ikorodu Road inwards Ojuelegba the culture, arts and people of Lagos, this celebration is usually graced by the gover- nor to usher Lagosians into the New Year. There are also a number of game houses, cinemas, hangouts and relaxation spots where one can spend the evening or burnout the night around Lagos.

Hospitality industry

Another night economy sub- sector is the hospitality in- dustry. Hotels ranging from 2-star to 5-star are springing up in urban Lagos. It is rep- resentative of the increasing business and social tourism within the state. In Lagos alone, there are over 2030 Commissioning of project light up Lagos(Ile Zik - Sango toll gate) hotels, and as the number 56 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

consulates-general and trade offices dot the city centre than any other state ex- cept the Federal Capital Territory, the most popular representations are led by the United States, Germany, South Afri- Expatriate ca, Spain, United Kingdom and Brazil. Basically, when multinational corpora- tions consider domesticating their op- erations in a terrain, they place cities on Communities in key metrics of local economic buoyancy, infrastructure, healthcare and security. On these fronts, Lagos has been striving Lagos to up the development of public utilities via its megacity vision and Akinwunmi Ambode’s administration has continued to work on that dream through infra- structural projects such as bus termi- nals, street lights, and reconstruction of airport road. These and more make the state not only enabling businesses to thrive but also for dwelling and resi- dence. Expatriates concentration in Lagos is not only driven by the market opportunity it presents; it is also bolstered by the pres- ence of beautiful coastlines that help for- eigners feel at home away from home as well as the receptive nature of Lagosians. Recognising the weight of expatriate contribution on its economy, Lagos State Government has always ensured contin- uous development and preservation of the prime areas where expatriates domi- nate in the state.

Governor Ambode with some dignitaries Expatriate neighbourhoods

Saying 80 percent of the expatriate population In Lagos, the highest priced areas are in Nigeria are concentrated in Lagos is not by synonymous with expatriates as they happenstance. have grown to become an exclusive pre- serve of those who command the hard here is a magnet of huge mar- Over 76 nationalities are present in La- currency. ket and a vast pool of limitless gos, with the Chinese and Indians lead- Yet compared with other cities in the Topportunities getting business ing the pack in the wake of renewed world, Lagos is reported as considerably executives, professionals and experts partnership with the state in infrastruc- cheap for expatriates to live, according from different world quarters on the next tural growth and development of indus- to latest survey by the Economist Intel- flight to the epicentre of West Africa’s trial hubs. ligence Unit(EIU), ranking the city sixth commerce. While several deputy high commissions, on the list of ten cheapest cities in the world. GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 57

Although spreads across the state in various domains, ex- patriates are predominant on the island, especially in the skyscraper-studded Ikoyi, Victoria Island, Lekki, occu- pying residential and com- mercial condominium. Out of the 47 foreign consulates in Lagos, 21 are domiciled in Victoria Island with huge presence on Walter Car- rington Crescent. On Lagos Island, apart from being home to prime estates including Banana Island, ex- quisite foreign restaurants, malls and bars, Nigeria’s most expensive neighbour- hood, Ikoyi also harbours 12 foreign consulates. Similarly, prime real estates such as the Governor Ambode with country director of the World Bank, Rachid Benmessaoud 1004 Estate at Victoria Island have 95 percent of its occu- pancy rate dominated by ex- there such as Geeta Ashram Viceroy in VI, Sheralton in For the trade zone for in- patriates and the Eko Pearl, a in Lekki, Ram Janki Temple GRA and Bazaar in Ilupeju. stance, investors and busi- high rise building located in above SPAR, Sai temple Ilu- Top rated hotels such as the nesses are guaranteed a host the burgeoning Eko Atlantic peju and Gurudwara in Vic- Eko Hotel and Suites, Four of preferential policies in- City in VI to name a few. toria Island. Points by Sheraton, Oriental cluding 100 percent incen- In Mainland Lagos - Ikeja, For education, there is an Hotel and Intercontinental tives, a lenient tax regime, the city capital, Ilupeju have Indian Language School Hotel are all products of ex- expatriate quotas for hiring become a city of Indians, which runs the curriculum patriates’ mission in Lagos. foreign employees for com- who occupy most residenc- at par with the Central Se- At Ibeju-Lekki where To- panies operating in the zone; es and are widely engaged lection Board Cards (CBSC) laram Group is promoting permission to sell manufac- in the manufacturing busi- standard. Peai, an adminis- the Lekki Free Trade Zone tured, imported and assem- nesses. This makes the area trator at the school, believes - the first privately initiated bled goods in the Nigerian lucrative for businesses to the age-long relationship free trade zone in the coun- domestic market and repa- focus on providing neces- between India and Nigeria try - foreign investors spread triation of capital, profit and sary lifestyle items in ample reposes confidence in many over 805 hectares of land, dividends ,among others. quantities. Indians to stay in Lagos. building a hub set to change Recently, Ambode opened a Well stocked Indian super- Cinema halls like Silverbird the industry. $50 million dollar Chinese markets such as SPAR, and Galleria in VI and The Palms The state acknowledges that facility belonging to Lon- Karma supply almost every in Lekki regularly features challenges abound but to grich Nigeria Manufactur- domestic need, likewise oth- latest bollywood releases; attract investors to the op- ing Plant at the Lagos Free er popular Indian vegetable similarly, there are sever- portunities, the Ambode’s Trade Zone. It is one of the markets across Lagos such as al good restaurants which administration continued outcomes of the adminis- Under Bridge Ikoyi, Jakande serve great indian meals to foster the enabling envi- tration’s effort to attract in- in Lekki and Bazaar in Ilupe- such as Spice Rot, Cumber- ronment needed for them to vestment and a sign of the ju.Couple of temples are also land, Lagoon Restaurant and thrive. kind of economic expansion 58 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

expected to be driven by the hood, 17km south of the city foreign flavours into their According to Frank Dier- free trade zone to the state. centre and part of the larger recipes in order to stay ahead mann in an interview with Under his watch, the total Lekki peninsula; or equal- of competition. BusinessDay on how he re- number of companies that ly high-end Ikoyi, located Hence, opportunities to eat laxes in Lagos and the cui- have set up manufacturing 15km south of the city cen- out are vast, including su- sines he loves said he loves plants within the zone in- tre. shi in Izanagi and soothing sports and socializing with creased to 25. Those who work in manufac- sights at La Veranda. These friends in Lagos, eating out turing are more likely to be restaurants are usually clas- and trying new locations Professions found on the mainland: Ilu- sified by over 20 nationalities offering good and healthy peju (8km north of the cen- including Chinese, Italian, food. He also enjoys the Leb- The growth of the interna- tre) and Ikeja (15km north) Lebanese, American, British, anese kitchen, as well as Ital- tional community in Lagos which are more stable with Indian and Japanese, among ian or Thai most”. has translated to an increase infrastructure and location others. Foreign celebrations in professional opportunities close to many businesses. The Chinese are presented Expatriates are not left out for expatriates. As such, for- Expatriates business contin- with several options as many in their celebrations though eign nationals are identified ue to thrive in Lagos ranging Chinese restaurants of top most prefer to return home with unique skills, profes- from retail, telecommuni- grade are spread across the to celebrate with their fam- sional areas of expertise and cation, hospitality services- city such as Jade Chinese ilies and loved ones, some businesses. from South African enter- Palace Cuisine, Ikeja, Pearl stay back to celebrate same Expatriates work in all kinds prises, Indians, Lebanese Garden, Oriental Garden, in Lagos sich as the Indians of sectors, including trade, competing for local market Shiro Restaurants, Ying Yang celebrate Puja and Diwali, telecommunications, hospi- share.Talk of building skills, Express, and Marco polo. Chinese celebrate the Chi- tality, energy, and construc- cooking or tiles laying or La Veranda Restaurant, nese New Year Festival also tion including the Chinese, sewing, Togolese are fa- Debonair and Dominos and known as Lunar New year. German, and Lebanese for mously dexterous at it. some big hotels are some of In recent times, expats also instance are easily identi- the centres for Italian Pizza. take pleasure in local fes- fied with construction and Foreign restaurants Nicely prepared seafood are tivals in Lagos, including real estate developmental by nationalities easily sourced at places like the Lagos International Jazz activities under the umbrel- Seafood Ocean Basket in Festivals and Lagos Carnival la companies such as Julius As the city evolves into an Victoria Island, Samantha’s modernised by the Ambode Berger Nigeria Plc., China international centre, hotels Bristol and Grill and Lagoon administration to usher in Civil Engineering Construc- and restaurants make it a restaurant. the New Year. tion Corporation (CCECC) point of duty to integrate Lagos is safe for all since the construction of the As the city becomes more at- Eko Bridge in Lagos – its pi- tractive to visitors, it is also oneer project. transforming into a global According to Pierre Daaboul, city with improved securi- the deputy mayor of Miziara, ty structure, personnel and a village in Lebanon where process.This also includes Lebanese expats build luxu- more fruitful policies and ry mansions from revenues programs targeted at im- earned in Lagos and Abuja, proving security with more the entire economy relies on efficient security response emigration to Nigeria as 80 and presence, investment in percent of the village popu- technology for security and lation works here. prosecution of offenders. Most expats live on the Is- land, including the affluent Victoria Island neighbour- Lagos TOURISM LAGOS REPORT APRIL 2019 59

EPILOGUE could find affordable services for which it is known when either from the efficient gov- you are at the helm of affairs ernment hospitals and primary as the chief executive officer. It healthcare centres or through was an uncommon resolve that Ambode’s the bespoke services rendered saw him execute some of the by the privately owned special- projects in Lagos during his ist hospitals in the state. tenure as his coming on board Having ensured an environ- was greeted with an economic Strides ment that craves for invest- recession which lasted for over ments, and consequently, he six quarters. Even after the exit won the Dangote’s $15 billion from recession, the growth of refinery to Lagos! The state -to Nigeria’s gross domestic prod- Foretell Lagos day sits comfortable as a start- uct (GDP) since then has been up haven, attracting venture uninspiring. capitalists, patient capital and Governor Akinwunmi Am- angel investments in Foreign bode carefully selected projects of the Future! Direct Investments. that can best be described as He dreams of a Lagos which “killing two birds with a stone”. will be a first port of call to They are all projects that not any investors coming to Afri- only promote the local econo- ca, who are attracted to it by my; they also give foreign in- its seamless financial systems, vestors the reasons to invest in interesting places for sight-see- Lagos, and by extension, Nige- ing and leisure, supported by ria. policies, laws, institutions and Unlike now, coming out of the people who are business Nigeria’s busiest international friendly. airport, the Muritala Muham- He set up a well-structured, mad International Airport self-evaluating framework (MMIA) was demeaning when from the first day in office to ap- compared with the experiences praise what has been done, and travellers have in sane climes. by asking questions concerning The next time you will be trav- what has not been done in or- elling out of this country or der to know the causes of the just returning to the country, deviation from the goal. you would think you are head- He assembled men and women ing towards or coming out of whose careers are laced with leading airports in the world worthy achievements either thereby placing Nigerian travel A scenic Lagos, dotted with Lagos for all, where the trans- in the public or private sector. experience similar to what ob- many strategically located sky- port systems aid productivity From economic planning to tains in advanced countries. scrapers and competing bridg- and government institutions finance and education as well In order to address unemploy- es, a boisterous city of many work for the good of the com- as tourism, men and women of ment challenges he set up the energetic youths and dream mon man. valour were assigned to differ- Lagos Employment Trust Fund chasers, Africa’s most popu- On healthcare, he enhanced ent portfolios. The results so far even when the country was in a lous city and home to Africa’s the deployment of ambulance justify the meticulousness that recession. bourgeoning entrepreneurs is services and mobile clinics for followed the selection of his Other notable projects include gradually evolving into the fi- swift responses to emergen- cabinet members. the transformed Ayinke Hos- nancial capital of the continent. cy cases anywhere in Lagos. But why was Governor Am- pital at Ikeja, Oshodi Inter- There is a master plan which is By creating a friendly start-up bode so much obsessed with a change, modernised Epe roads, being followed by successive ecosystem which allows for Lagos that works? Code Lagos and many more. administrations. The Governor medical innovations, he en- If you have ever been a part Ambode’s administration did gendered a disruption of the of a team that made a system He will hand over the not derail. In a four-year term, traditional blood donor that function seamlessly against all reign of governance to his he touched on all the critical eventually birthed LifeBank odds; a state that creates op- successor in a few weeks’ sectors of the state economy – – an app that facilitates blood portunities and that converts time; Lagosians will for- from health care to education, donation. The Lagos of Gover- every challenge to opportuni- ever remember Ambode, to environment and security, nor Ambode’s dream is where ties for all, you will be greatly because his strides have employment and investments. both the common man and disturbed if such system begins written his name in gold! He thought of an egalitarian high net worth individuals to deviate from the standards

A1 LAGOS REPORT APRIL 2019 GOVERNMENT CAN WORK

Oshodi Interchange Inauguration by President Buhari

President Muhammadu Buhari (3rd left); Lagos State Governor, Akinwunmi Ambode (2nd left); Ogun State Governor, Sen. Ibikunle Amosun (left); Gover- nor-elect of Lagos State, Babajide Sanwo-Olu (3rd right); Oyo State Governor, Sen. Abiola Ajimobi (2nd right) and Ekiti State Governor, Kayode Fayemi (right) during the commissioning of the Oshodi Transport Interchange along with the Oshodi Interchange Mass Transit Buses, on Wednesday, April 24, 2019.

President Buhari after the commissioning President Buhari flanked by Governor Ambode GOVERNMENT CAN WORK LAGOS REPORT APRIL 2019 A2

Ayinke House LASUTH Ikeja

The newly commissioned Institute of Maternal and Child Health (Ayinke The newly commissioned Institute of Maternal and Child Health (Ayinke House) with facilities at LASUTH, Ikeja, on Wednesday, April 24, 2019. House) with facilities at LASUTH, Ikeja, on Wednesday, April 24, 2019.

President Muhammadu Buhari (2nd right), with Lagos State Governor, Akin- wunmi Ambode (right); Governor-elect of Lagos State, Babajide Sanwo-Olu (left) during the unveiling of the plaque to commission the newly reconstructed Institute of Maternal and Child Health (Ayinke House), LASUTH, Ikeja, on Wednesday, The newly commissioned Institute of Maternal and Child Health (Ayinke April 24, 2019. House) with facilities at LASUTH, Ikeja, on Wednesday, April 24, 2019. A3 LAGOS REPORT APRIL 2019 INAUGURATION OF GOV. AMBODE’S PROJECTS BY PRESIDENT BUHARI

Lagos Theatre Oregun

Lagos Theatre, Oregun Lagos Theatre Hall, Oregun

President Muhammadu Buhari (3rd left); Lagos State Governor, Akinwunmi Am- bode (3rd right); Ogun State Governor, Sen. Ibikunle Amosun (2nd right); Deputy Governor-elect, Lagos State, Obafemi Hamzat (right); Minister of Health, Isaac Adewole (left); Governor-elect of Lagos State, Babajide Sanwo-Olu (2nd left) during the commissioning of the newly built Lagos Theatre at Oregun, Ikeja, on Wednes- day, April 24, 2019 Lagos Theatre, Oregun INAUGURATION OF GOV. AMBODE’S PROJECTS BY PRESIDENT BUHARI LAGOS REPORT APRIL 2019 A4

Airport Road Lagos

President Muhammadu Buhari (left) and Lagos State Governor, Akinwunmi Ambode during the President’s working visit to Lagos, at Aerial view of the Airport Road constructed by Governor Ambode the Government House, Alausa, Ikeja, on Wednesday, April 24, 2019.

Night view on the newly constructed Airport Road Aerial view of the Airport Road constructed by Governor Ambode