Lagos Governor Seeks More Foreign Investment in Auto, Real Estate, Tech

Gov Babajide Sanwolu & Jung Won Ju

BusinessAfrica – Lagos State Governor Babajide Sanwo-Olu said he wants to attract more foreign investment in the sectors of automobile, real estate and technology, as he met with the management of Daewoo Engineering and Construction Nigeria Ltd. on Monday.

Sanwo-Olu said his administration is committed to creating an enabling environment for businesses and investors, and that Lagos is open for new opportunities. He urged the South Korean company, which has been operating in Nigeria for over 40 years, to take its relationship with the state to another level.

“Let it be a visit of commitment and real partnership. Let it be a visit where there will be real transactions on the table that both of us can take away,” he said at the Lagos House in Ikeja, according to a statement from his office.

Daewoo Group Chairman Jung Won Ju said the company plans to invest in housing, real estate and infrastructure in Nigeria, and that Lagos has been identified as one of the major investment areas because of its economic status. He said the company will make that commitment in a short time.

Lagos is Nigeria’s commercial hub and the most populous city in Africa, with an estimated population of over 20 million people. The state government has been implementing various projects and policies to improve the infrastructure, security and business climate in the city.