APC's cronyism hinders Lagos from becoming a global financial hub - Rhodes Viveur

Labor’s Lagos State gubernatorial candidate for the 2023 general election, Gbadebo Rose-Bivour, has been accused of nepotism within the All Progressives Congress (APC), which has undermined the state’s ambitions to become a global financial hub. He said he was facing major obstacles.

In a statement on Monday, the Labor candidate criticized Governor Sanwal’s efforts to attract investors to London, calling them “underwhelming, dishonest and disorganized”.

He explained that the scrapping of a $10 million technology investment aimed at revolutionizing bike-hailing services in Lagos was evidence of contradictory policies within the state government.

He said, “The success of the technology ecosystem is primarily driven by the talent, determination and relentless spirit of young Nigerians who strive to make an impact on the world. Therefore, almost 80% of Nigerian startups are based in the US. It is no surprise that it is officially incorporated in .

Rhodes-Bivour further highlighted the contradiction between the governor’s ambition to transform Lagos into a major financial hub and the policies being implemented in the country.

He maintained that for the past 23 years, the APC government has been pushing policies that have hampered the city’s growth potential.

Addressing the issue of corruption, Rhodes-Vivour argued that the state’s investments in critical infrastructure, including roads, bridges, housing and waterways, were being undermined by corruption and cronyism.

He said: “For the past 23 years, his administration and party have pursued policies that have hindered the city’s potential. To compete with global financial centers such as London, Hong Kong, Zurich and New York, Lagos has no We need quality infrastructure, competitive tax rates, an independent judiciary, and a diverse and talented workforce, all of which Mr. Sanwal and his party have made vulgar.

“The state’s investment in critical infrastructure such as roads, bridges, housing, and waterways is dismal and marred by corruption. Contract costs are soaring, given to cronies, and most of the funds are stolen. As a result, we are struggling to power streetlights and complete impactful projects.”

Labor candidates pointed to the state government’s resistance to financial autonomy for the judiciary and stressed the importance of an independent judiciary.

He argued that serious investors would be hesitant to invest in an economy that lacked judicial independence.

He added: “The contempt for the independence of the judiciary by the Lagos State government has been such that the state has become the most vocal opponent of the financial autonomy of the judiciary.

“Isn’t it shameful that a country that is proud to be the economic capital of Nigeria shies away from an independent judiciary? No serious investor would invest their money in an economy without an independent judiciary. plug.”

“Lagos has the potential to rival other major global financial hubs over the next 20 years, but if led by administrators who lack the vision, ability and character needed to pull it off, Lagos will It will still make a name for itself,” said Rose Vibourg. .

Source: dailypost.ng

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