Sixth Lagos Economic Summit Opens Today

To underscore its commitment to ensuring that Nigeria joins the league of emerging economies called Brics and convert it to Brincs, i.e Brazil, Russia, India, Nigeria, China and South Africa), foremost financial institution and Nigeria’s Best Banking Brand, First Bank of Nigeria Plc is partnering with the Lagos State Government to sponsor the 6th Lagos State Economic Summit tagged Ehingbeti 2012.

The three day Summit, which opens today at the Eko Hotel & Suites, Victoria Island, Lagos is titled “From Brics to Brincs – Lagos holds the key”, a theme that drew inspiration from “From BRICS to BRINCS – A Real Conversation”, which is the theme of the November 2011 maiden Investors Conference organized by FBN Capital, the Investment Banking and Asset Management business of FirstBank Group.

The Lagos Economic Summit would focus on investment opportunities in Lagos State, especially in the areas of Power, Agriculture, Transportation and Housing (PATH). It is designed to attract and support investments that will reduce infrastructure gaps, create employment and improve the living standards of the increasing population in the state and also provide opportunities for all stakeholders to network, examine and propose policies and implementation programmes to achieve desired strategic goals and objectives.

Speaking on the sponsorship of the Summit, FirstBank’s Head of Marketing & Corporate Communications, Mrs. Folake Ani-Mumuney reiterated the imperative of collaboration between the private and public sectors. She said while the private sector is the major driver of economic growth, government is responsible for providing the enabling environment for private initiatives to thrive.

“We are happy that the Lagos State Government has a full grasp of the inter-dependence and inter-woven relationships between these important sectors by electing to sustain the conversation on the need to double our efforts for Nigeria join the Brics Club. As a state with the biggest economy in Nigeria, we believe Lagos State truly holds the key to this aspiration”, she said.

The FBN Capital’s Investors’ Conference, which addressed investment opportunities in the fast changing Nigerian Economy as well as provided a forum for international investors to interact with policymakers, regulators and Nigerian business leaders, was attended by the Coordinating Minister for the Economy Dr. Ngozi Okonjo-Iweala, Minister of Petroleum Resources Mrs. Diezani Alison-Madueke, Minister for Trade and Investment Dr. Olusegun Aganga, Minister of Power Prof. Barth Nnaji, Minister of Agriculture Dr. Akinwunmi Adesina, and the AMCON CEO Mr. Mustafa Chike-Obi, as well as the CBN Governor Mallam Sanusi Lamido Sanusi who all presented position papers.