Sanwo-Olu approves N250m tech fund for Lagos smart city agenda

The Lagos state government has partnered with the Eko Innovation Centre (EIC) to fund the state’s smart city agenda.

Speaking at the art of technology event hosted by the Eko Innovation Centre (EIC), Babajide Sanwo-Olu, governor of the state, announced N250 million tech fund to facilitate co-creation of solutions for the Lagos innovation master plan.

The governor said the tech fund will be managed by the Lagos State Science, Research and Innovation Council (LASRIC) headed by Oluwatoyin Ogundipe, vice-chancellor of the University of Lagos.

He said the fund will help the agency invest in research and development in the areas of artificial intelligence (AI), robotics, health informatics and green energy.

“This fund is primarily tasked with investment in research and development in science and technology across different thematic areas in the state,” the governor said.

“From artificial intelligence to robotics to health informatics and green energy, LASRIC will direct funds to solve issues of national significance through science and technology research.

“The use of AI to predict the movement of human resources and materials and reverse environmental degradation are critical solutions we need to adopt. Our challenges put us in a unique position to engineer not just our own solutions but engineer solutions for the world at large.”

According to Victor Afolabi, EIC founder, the two-day summit is building on the earlier engagement of the government and the tech community.

“For the first time in this country, whether state, sub-regional, or national, we are having a government committed to an innovation master plan,” he said.

“It is part-product of the co-creation session. It is called Lagos state innovation master plan; it tells us where we are going, where we need to be and how we can achieve more.”