Lagos to hold virtual economic summit

The Lagos state government is set to host its first virtual economic summit.

The 20th edition of the summit which is to hold for the first time virtually due to COVID-19 pandemic is themed: “For Greater Lagos: Setting the tone for the next decade”.

Speaking on Sunday in Lagos, Samuel Egube, commissioner for economic planning and budget, said the summit is firmly established as a credible forum for stimulating economic growth.

Egube said so far, about 119 resolutions have been made in the course of history of Ehingbeti, the economic summit.

“The rail line projects, the Lekki toll gate, among others are ideas generated from the economic summit,” he said.

“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.”

He said the uniqueness of Ehingbeti is that the government is responsible for the decision taken ” and we have obliged to report back to the next Ehingbeti what we have done with the decisions we took. And if there are challenges, we highlight them and take other decisions to repair those challenges”.

“Some have argued that the ambitions are too high because it appears that really how do you the private sector in the lead and we collaborate in that manner,” he said.

“We have wondered weather government have trusted to follow through with this idea of collaboration but the performance shows that yes, we follow through and yes we believe that governance is a togetherness. Which is why when we talk to the people of Lagos we always use the word ‘Ajumose’, meaning that in putting our efforts that we get a better outcome.

“The whole idea about the blue line and red line, the rail master plan came out Ehingbeti. Today, you see the rail line is on its way, these are very big auditions projects that sometimes, it is very difficult to take that decision on your own but when the private sector comes together and says let us do this, it creates increased confidence in taking such audition leap and I can tell you that we are on our way to deliver both the red line and blue line.”

He added that the entire Lekki and Ikoyi toll bridge came out of Ehingbeti.

Yemi Cardoso, co-chairman, 2020 Ehingbeti, said there was so much to look forward to as this year’s summit draws nearer.

He also commended Babajide Sanwo-Olu, Lagos state governor, and his administration for deeming it fit to bring back Ehingbeti.

“This is a great opportunity for me in the private sector to come together with government and again show what Lagos is truly made of, show what Lagos can truly do in the most difficult and challenging circumstances times of which we are in,” he said.

“COVID-19 and its aftermath has recked havoc on the economy of the world and we are no exception to that and when it is going to eventually go to sleep, no body knows, all we know is that countries around the world paid dearly for being on lockdown. For every amount of lockdown we have, we have a corresponding loss in GDP and through no fault to anybody. It is something you have to bear with.

“I must admit that in times to have an event like this is greatly challenging no doubt about it but this particular event is designed to be a virtual summit and I think it is a great leap forward for Lagos and again it will make it a lot easier for the private sector to collaborate.”

The summit is billed to hold on November 10 to November 12.