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Lagos State Governor Akinwunmi Ambode, met with international investors and bankers today to discuss how his administration will support investment in the state.

He told a group that included representatives of JP Morgan and Julius Berger at the State House in Alausa, Lagos, that he will work to open Lagos to investment and lift the state to greater heights.

“Like we promised, we said we are going to open up Lagos for greater business and what you have seen today is a demonstration of that. We have businessmen and investors who are interested in our infrastructure, water, health and also power.”

Lagos State is the commercial hub of Nigeria, Africa’s largest economy. The immediate past administration of the state made significant progress with urban renewal including investment in infrastructure, the environment and security. However, the state continues to struggle with the pressure of urbanisation and lack of infrastructure.

But Mr. Ambode, who assumed office on May 29, 2015, is optimistic that Lagos will attract needed investments into the state. He said after the meeting: “We’ve had fruitful discussions; we’ve looked at areas where we can partner together and areas where they can actually even invest freely, because they have confidence in Lagos State.”

He promised that his administration will be transparent and credible, promising that Lagos State will “obey the rule of law and ensure that investments are safe in Lagos.”

Leader of the group of investors, Lagos pastor and businessman, Idowu Iluyomade, said the team had been encouraged to invest in the economy of Lagos. He said: “We have international and local investors and we have international banks, UPS, JP Morgan, who have shown interest in partnering with the Lagos State Government and I pray what we have started, this seed that we have sown, it would grow and germinate and transform the whole of the state.”

Mutiu Sunmonu, Director of Julius Berger, said the meeting held with the governor was very profitable, and hinted on “bold ideas” for Lagos State.

Oluwatosin Adewuyi, Managing Director, Senior Country Officer for JP Morgan in Nigeria, said the company had been in Nigeria for 43 years.

“I believe that is actually what is required in the next decade in Lagos. It’s always refreshing to spend time with the Governor who understands financing, and he does. It was two hours well spent and it’s best for us to move Lagos forward. We’re a global bank and essentially, our key skill set is to attract investors into countries and taking local companies out of Nigeria to raise capital and so from our perspective, there’s a myriad of projects that need to be financed and that’s where we need to come in,” he stated.