Mr Rotimi Oyekan, the Hon. Commissioner for Finance, Lagos State

Name: Rotimi Oyekan 
Ministry: Lagos State Ministry of Finance
Position: Honourable Commissioner

What potential does Lagos State hold for business?

Over 17 million people live on the 377 000 hectares of land in Lagos State. We have the highest migration rate in Nigeria and Lagos is the only state with a sustainable, independent economic profile. Lagos is the most urbanised area in the whole of West Africa and there are obviously investment opportunities in the renewal of infrastructure and in tourism – entertainment, hotels, casinos, etc.

Name some of the challenges currently facing Lagos?

We have to improve the infrastructure to increase productivity and then, given the greater number of people with disposable incomes, create ancillary opportunities for business. A priority is to create a well-organised transport system so an average wage earner can plan his expenses and improve productivity.

How do you plan on attracting investment to the state?

We are improving areas such taxation, business registration, the judicial system and security to ensure that the general environment for doing business lives up to the highest level of expectation internationally. Other areas we are working on include the granting of land rights and transfer – all to encourage a large flow of foreign direct investment. Nigeria has previously had a negative image and people are sceptical. They need to see the commitment from the state government.

Give us some examples of private parties that are actually operating in Lagos State?

There is an American company that is working in some parts of the Lekki Free Trade Zone, there is a Chinese party that is assisting us with infrastructure funding, there is a Chinese party that is assisting us with infrastructure funding, a South African entity was recently granted the licence to run a casino business, and there are many other interesting people who are coming to take advantage of our transparency and our drive to make Lagos a better place.

What is the vision you have for this government?

The Governor has outlined our vision very accurately. At the very least we aim for the development, redevelopment, financing and sustenance of a new, modern, urban city in sub-Saharan Africa. This is the minimum this administration intends to achieve. There are so many projects and so many initiatives.