By Adedapo Adesanya
The Lagos State Government has unveiled plans for the 2020 Lagos Economic Summit popularly known as EHINGBETI, six years after it was last held in 2014 under the Babatunde Raji Fashola administration.
The summit has been themed For Greater Lagos: Setting the Tune for the Next Decade and will run virtually from Tuesday, November 10 through Thursday, November 12 2020.
Mr Sam Egube, Lagos State Commissioner for Economic Planning and Budget, said at a media interaction on Sunday in Lagos that the summit had been resuscitated by Governor Babajide Sanwo-Olu for enhanced economic growth and development.
Mr Egube said that the summit would address pertinent issues that affect Lagos as an evolving megacity and chart a course for the actualisation of the dream of the current administration.
He said that the government had implemented 109 out 119 resolutions reached during past editions of the summit.
“The summit has a rich history and is firmly established as a credible forum for stimulating economic growth for Lagos State.
“It is our belief that you cannot lead a place like Lagos with one mind, you have to bring together all the minds.
“So far, about 119 resolutions were taken in the history of EHINGBETI and 109 of them implemented.
“What Lagos State Government is trying to do is to stimulate contributions from the private sector, get them interested in the governance of the state, and lead the way in terms of the outcomes.
“For example, the whole idea about the blue line, the red line, the rail master plan are things that came out of EHINGBETI,” he said.
Mr Egube, who also doubles as the Chairman EHINGBETI, said that major developments in the state and key decisions were reached at the past editions of the summit.
He said that the summit was introduced to stimulate contributions from the private sector and corporates for a better Lagos.
The Summit Chairman noted that the platform was primarily driven by the private sector and backed by the government to show the vibrancy of Lagos.
“We are proud that the private sector in Lagos is active and responsible and takes positive outcomes with the government in the development of ideas,” he said.
Mr Olayemi Cardoso, Co-Chairman EHINGBETI, commended Mr Sanwo-Olu for bringing back the summit in line with his campaign agenda.
The Co-Chair said that the summit introduced in 2000 had yielded a number of positive results and should be maintained.
In his words, “It is timely that this is happening. I say that because COVD-19 and its aftermath wreaked havoc in economies around the world and we are no exception to that, and when it going to end, nobody knows.
“All we know is that countries around the world, paid dearly from being on lockdown, and for any lockdown, you have a corresponding loss in gross domestic product.
“With the challenges ahead, and Lagos being the economic nerve centre of the country, there is a large responsibility to ensure that it protects the citizens of the state, and this is something that can’t happen unless it is planned for.
“It is a great opportunity for us in the private sector to come together with the government again to show what Lagos is truly made off and show what Lagos can truly do in the most difficult and challenging circumstances which we are in,” Mr Cardoso said.
He added that the virtual summit would make it easier for enhanced participation of the private sector, local and foreign investors.
Mr Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry, said that EHINGBETI was about inclusiveness.
He noted that investment was very important for the development and growth of any economy.
“We know that making the economy to progress is about promoting investments, and that is what makes the difference between Lagos and many other states.
“The focus on investments is very key and is the top priority for Lagos State Government and we appreciate that a great deal.
“This has been the context of the very strong public/private partnership that we have witnessed in the state.
“We are part of this and we know it is going to create a lot of value. We are committed to partnering with Lagos State Government to ensure that we continue to push this forward,” Mr Yusuf said.
