Lagos State Governor, Mr. Babajide Sanwo-Olu, announced on Wednesday plans to establish a Sovereign Investment Fund aimed at securing strategic investments for the future.
Governor Sanwo-Olu made this announcement during a courtesy visit by the Executive Management of the Nigeria Sovereign Investment Authority (NSIA), led by its Managing Director/CEO, Aminu Umar-Sadiq, at Lagos House, Marina.
The Governor urged the NSIA to consider investing in several key projects of the Lagos State Government, including the Lekki Airport, Rail projects, Film City, and the Food Logistics hub.
“We, as a subnational, are planning to set up a Sovereign Investment Fund because we realize the importance of providing for the future by setting aside funds now. It is always a prudent thing to do,” Sanwo-Olu stated. He highlighted the need for multiple oncology centers in Lagos to address the state’s healthcare needs and reduce medical tourism.
Governor Sanwo-Olu also emphasized the state’s commitment to improving public transportation through rail projects and developing a Film City to support the creative industry.
Umar-Sadiq, speaking earlier, noted that the NSIA manages funds for future generations of Nigerians, having achieved a total comprehensive income of about N1.6 trillion and core earnings of N200 billion last year. He reiterated NSIA’s commitment to supporting infrastructural activities and development in Lagos, emphasizing the organization’s role as an asset manager for both federal and state governments.
