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INVESTMENT OPPORTUNITIES

Posted by on 2/5/2003 12:42:40 PM |

INVESTMENT OPPORTUNITIES

Economic Climate: The Economy of Lagos State, especially Metropolitan Lagos, forms the hub of Nigeria's national economy. This is not surpris ing in view of the state's traditional role as the Federal Capital of the country until a few years ago. Currently, Metropolitan Lagos continues to provide, serve as, or support the following: the most elaborate port facilities in the country; the older and busier of the two railway termini on the country's Atlantic Coast.

The country's busiest international and domestic airports; the range of buildings and allied infra structure which the Federal administra tion and its parastatals have used hitherto (and most of which they still use); the headquarters of most merchant, commercial and development banks as well as insurance and reinsurance com panies; the headquarters of the Nigerian Stock Exchange and allied institutions; the whole paraphernalia of the Lagos State administration itself and those of its dominantly urbanbased Local Government units.

The largest concentration of industrial and commercial establishments in the country together with the diversified activities allied to them; a wide range of educational institutions including polytechnics, colleges of education, universities and research institutes; (formerly) the seat of diplomatic missions to Nigeria; a wide range of hotels and recreational facilities; the terminus of road transportation to various parts of the country and the rest of West Africa; the largest receptacle of migrants, both ruralurban and international.

A large and growing population of skilled and semiskilled persons that provide bases and market for a wide range of higher order goods and services. These and other functions make Lagos "tick" and provide the State with a bright and magnetic economic climate. Regardless of the recent change of its status as national capital, and given the inertia as well as the circular and cumulative causation processes that characterise economic development, the hegemony and growth of the Lagos area appear well assured into the future. What policy makers may worry about is how to manage, sustain and further the processes.




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