In accordance with the Federal Government’s mandate, the development of each local government as an economic zone throughout the nation has the potential to generate over $1 trillion in economic output and 20 million employment in Nigeria by 2030.
At the Lagos Island East LCDA Local Content Development Hub Beyond Oil, the pilot phase, was unveiled on Wednesday at the Lagos City Center in Lagos. Lanre Johnson, the CEO of Roseate Forte Limited and convener of One Product One Local Government (OPOL), announced this.
He states that: “Jordan FM/Roseate Forte, in partnership with the Lagos Island East LCDA and key stakeholders in the private and public sectors, developed the Local Content Development Hubs (LCDH) beyond oil across the 774 local governments to promote and build local capacity and foster sustainable business ecosystems for MSMEs, traders, artisans, and youths toward dramatically accelerated non-oil earnings and sustainable economic development and growth in Nigeria.”
“Our unflinching commitment is to bring together public and private sectors toward building and sustaining a new Nigeria of our collective dream, greatness and prosperity for all Nigerians. The pilot will start from Lagos State and from Lagos Island East LCDA. Our host, the chairman of Lagos Island East LCDA, Hon. Folawiyo Muibi (Pepe) has demonstrated impeccable resolve and showed uncommon passion and zest working with us towards achieving radical and revolutionary developments for his people.
“In our unwavering support for business community and government at all levels, the mission in Lagos is to bring additional $70 billion to Lagos State GDP across all LGAs by 2030, while projecting that 1 million jobs will be created through the development and facilitation of local economy.
“Activities at the hub would include, entrepreneurship, mentorship, knowledge transfer, investments and market linkage: ideation, invention, product certification and standardization, product prototyping, reverse engineering, excellent service delivery, funding and investment, exports and local content development for the manufacturers, artisans, trades, youths and the informal sector”, the Jordan FM boss said.
The Serial Entrepreneur said the projected outcomes for the hubs across the 774 Local Government Area are, One Product One LGA, formalization of informal sector, 1 million unstructured/unregistered MSMEs will be converted, 20 export hubs, 57 co-working spaces, 57 shared artisanry factory/industries.
He said that all these outcomes can only be achieved through partnership with all LGAs/LCDAs with their business community, State and Federal Governments, various associations, funding institutions, embassies and other critical organizations.
“I want to tell our president that the need for us to come together to build local content development beyond oil, I want to encourage all of us to go about collaborations, I want to encourage all the chairman across all the 774 local government in the country to embrace what Hon. Muibi Folawiyo has done, and by what we are going to start doing today, Mr President will begin to see that change he is talking about because indeed there will be economic revolution in the country. We can see the arrears of people, ministries, agencies gathered here today, NYSC are here, BOI are here, SMEDAN are here, NEPC are here, ASLAT are here and ITF are here,I think the journey has just begun for us to hit that 1 trillion economy and for us to create 20 million job, everything we need will be here in this hub we are unveiling today” Lanre Johnson affirmed.
Chairman of Lagos Island East LCDA, Hon. Folawiyo Muibi said the program is a laudable one which is set to put his local council on the global map in term of economic development.
“I feel elated, I’m very happy being the very first chairman to assemble the caliber of people here today, I know what it means to everybody. and it is a very good decision in the right direction for the benefit of the local government, the state and Nigeria at large”.
“It’s good to bring about economic development to the local government and I can tell you categorically that the youth would benefit more from this initiative because it will give them the opportunities to choose whether to go into ICT, export, mechatronics, entrepreneurship skills, trading and the rest.
“Any kind of support that is required of the council that would enable the initiative to make impact for the local community you can count on me to provide it, because it is the only way for economic growth, and when there is economic growth within the local communities there will be economic growth across the state and the country at large” the chairman said.
He appealed to other chairman across the 774 local government areas in the Nigeria to embrace the program as their project so as to bring economic prosperity to their people.
“I want to appeal to all the chairman of all the 774 local government areas across the country to adopt this initiative as their project so that the effort being put in place by Mr President will not go in vain. it is through locals that we can assist programs and project of what the president is doing now. if the economy level of the local government is enhanced you will agree with me that it is going to improve the economic level of the state, and if economic activities of every state is improving it will definitely reflect on the economic development of the country. Therefore I will appeal to all colleagues to embrace this program as it will be replicated across all the local government in Nigeria,” Muibi said.
Other stakeholders and partners who were at the event to support the program includes, the Federal Ministry of Finance and Coordinating Minister for the Economy, the Bank of Industry (BOI), the Nigerian Export Promotion Council (NEPC), the Nirsal Bank, Taj Bank, Rock foundation Automobile, the Nigeria Society of Engineers (NSE), the Industrial Training Funds (ITF), the Lagos State Ministry of Trade, Commerce, and Investment, SMEDAN, the Lagos State Ministry of Wealth Creation, NYSC, Lagos State Office of Climate Change and Circular Economy, Association of Lagos Artisans and Technicians (ASLAT), and the Lagos State Ministry of Youth and Social Development.
