Governor Babatunde Raji Fashola has once again restated the need for the provision of essential services and infrastructure as prerequisite for growth and development.
The Governor made this remark while declaring open the 16th Annual Stockbrokers’ Conference and induction of new associates at the Orchid Hotels Lekki recently.
Represented by the State’s Commissioner for Tourism and Intergovernmental Relations, Mr. Oladisun Holloway, the Governor explained that Lagos is the most industrialized State in the country accounting for over 60 per cent of Nigeria’s commercial activities, 70 per cent of the National Maritime Cargo Freight and over 80 per cent of the international aviation Traffic, adding that provision of adequate infrastructure is needed to support such activities.
He said some of the infrastructural projects include the construction of new roads and expansion of the Lagos-Badagry Expressway from four to ten lanes, construction of the light rail system, construction of jetties in the riverine areas and the provision of potable water through the expansion of Iju and Adiyan water works and other mini works across the State.
While stressing that government recognize that sustainable energy is critical to development, Fashola said the State generates 12.5 MW at Akute Power Plant and 10 MW at the Island Power Plant.
The Governor said the Capital Market is the bedrock for developing economy, adding that the Market remains the ideal place to source for funds.
On his own part, the President of the Charted Institute of Stockbrokers (CIS), Mr. Olushekun admonished investors to avail themselves of the current low prices of shares for gains in the future.
He added that the CIS is set to further stabilize the Capital Market in order to assist small, medium and big businessmen in the country.
Olushekun noted that the market indices had greatly improved this year, and also pointed out that there is a huge potential to be tapped in the Stock Exchange and Lagos State.
The Governor, represented by the Commissioner for Tourism and Intergovernmental Relations, had earlier rang the bell to commence transaction at the Stock Exchange on Thursday.