By Naomi Uzor

Lagos state Governor, Raji Fashola, has forecasted that the Nigerian economy could grow faster if infrastructures are firmly put In place. Speaking on the National Economic Roadmap: The Role of Lagos State, at the business environment roundtable on 2011 Nigerian economic roadmap (Putting the economy first in the next four years), organised by the Lagos Chamber of Commerce and Industry (LCCI).

Fashola said if the Nigerian economy could grow at 7 per cent – 8 per cent per annum when irregular supply of electricity, irregular supply of refined petroleum products and gas, and the absence of rail transportation, all of which have conspired to render manufacturing and industrial activities uncompetitive in Nigeria.

“It is easy to imagine how much faster the Nigerian economy could grow if energy supply could become regular, the rail transport system could become functional, and manufacturing and industrial activities could thrive and grow” he stated.

According to him, if the on-going interventions in the energy supply and rail transportation systems yield the desired outcomes, opportunities for business and growth in the Nigerian economy would become much larger over the next decade or two, and business and government must brace themselves to play their rightful roles in ensuring that growth is sustained, and necessary conditions that will translate growth into development are firmly put in place.

“The bulk of Nigeria’s commercial activities revolve around the ports in Lagos. Growth in agriculture, oil and gas, and industry will only mean increased commercial activities in Lagos, as vital inputs arrive and produce exports depart through our seaports.

As more people are expected to arrive Lagos as business opportunities grow in the country, so would the burden placed on Lagos to absorb more of the pressures imposed by our collective quest for faster economic growth in Nigeria” he said.

He said his government is very much awake to the responses required to sustain current and expected growth in the economic activity in the country, among which is the higher levels of urban security to ensure that Lagos remains safe for you to seek and consummate business opportunities, and enjoy the proceeds to your efforts; easier access to lands and housing for residential, recreational, and industrial uses, identification of new development sites, land reclamation programmes, creation of new towns, easier leasehold terms, urban renewal schemes, urban housing schemes and mortgage schemes, among others.