LASG Bills Will Enhance Ease Of Doing Business, Says Sanwo-Olu

The governor of Lagos State, Babajide Sanwo-Olu said that the state government has improved plans to enhance the ease of doing business in Lagos with the Lagos State Wealth Fund (LSWF) bill and the Lagos State Civil Bill when passed into Law by the State House of Assembly.

He disclosed this while speaking on the signing of the two bills, noting that they are critical to the future development of the state while enhancing the ease of doing business in Lagos.

He noted that the state government would continue to pursue policies that are inclusive and equitable to all over the development plan period.

It would be recalled that governor Sanwo-Olu recently signed the Lagos State Wealth Fund (LSWF) bill and the Lagos State Civil Bill which will be sent to the Lagos State House of Assembly to be passed into law.

This is even as the state officially launched its 30-year development plan which will be implemented between 2022 and 2052.

According to him, the Lagos Wealth Fund Bill, signals the commencement of the state’s sub-sovereign green bond that will create sustainable wealth for the government and the people of Lagos.

Stating that the fund will allow the state to create a wealth reserve that will be instrumental to delivering infrastructure, he added that the fund will prevent Lagos revenue from external shock and make the state the technology and investment hub.

“Lagos wealth fund becomes the first sub-national sovereign wealth fund in Africa and joins Singapore and Canada that have similar wealth funds and had gone on to do great things with it.

He further stressed that the state Assembly has already been notified that the bill is coming for their accent, he emphasized that he has been assured of speedy passage into law as it plays a critical role in the future of Lagos and its 30-year development plan.

“The state Assembly members are aware of this bill we are signing today. This is critical to secure the future financing of Lagos and serves as reserves to plan for the future,” he stressed.

He specifically said the Lagos State Civil Bill is expected to speed up the judicial process to ensure that judgments are discharged on time, thereby, fast-tracking civil proceedings, believing this will improve the Ease of Doing Business in the state.