Lagos State Plans for a Brighter Future: New Investment Fund Coming
The Governor of Lagos State, Mr. Babajide Sanwo-Olu, shared some exciting news on Wednesday. The state is going to start something called a Sovereign Investment Fund. This fund will help save and invest money for big projects in the future.
Governor Sanwo-Olu mentioned this when some important people from the Nigeria Sovereign Investment Authority (NSIA) came to visit him. The head of the group, Mr. Aminu Umar-Sadiq, led the visit at the Governor’s office in Lagos House, Marina.
The Governor asked the NSIA to think about putting some money into projects Lagos is planning. These projects include building a new airport at Lekki, a railway, a Film City, and a hub for food logistics.
He said, “We, as a smaller government part of Nigeria, want to set up a Sovereign Investment Fund. It’s important to save some money now so we can have more money later, just like how saving a part of your pocket money today means you have more to buy a toy tomorrow. This fund will help us do that.”
“I know you (NSIA) have built a big cancer treatment center at Lagos University Teaching Hospital. But Lagos needs about four to five more of these centers because a lot of people need them. We are planning to support more investors to build another center, so people don’t have to travel far for good medical care.”
“In Lagos, we like to do a lot of things, but we need money. We have an airport project we want to finish and we’re looking for funding. Maybe you can help with this project. We also have a plan to build a big entertainment city called Film City. It’s for the future of movies and shows. These are some of the big ideas we have in Lagos that you might like.”
NSIA Makes Big Money
Earlier, Mr. Umar-Sadiq explained that the NSIA is like a big savings account for Nigeria. It helps the country save and invest money for the future.
He shared some impressive numbers. Last year, the NSIA made about N1.6 trillion in total income and N200 billion in core earnings. That’s a lot of money!
Mr. Umar-Sadiq said the NSIA is ready to manage money not just for the federal government but also for states like Lagos. This means they can help both big and small government projects. He also said their services will help make Lagos even better.