Hamzat Unveils ‘Lagos PROMISE’ Blueprint at LCCI Stakeholder Engagement
Lagos Deputy Governor Dr Obafemi Hamzat has presented his “Lagos PROMISE” development blueprint to business leaders, outlining proposals aimed at sustaining economic growth, improving infrastructure and strengthening the state’s competitiveness.
The presentation took place during a stakeholder engagement with members of the Lagos Chamber of Commerce and Industry (LCCI). The meeting, themed “An Afternoon to Discuss the Facts and Figures of Lagos State,” focused on data-driven discussions and practical strategies for sustaining Lagos’ development over the next decade and beyond.
Drawing on more than 25 years of public service, Hamzat outlined a vision built around continuity, accountability and inclusive growth. He said Lagos had established structures and institutional capacity to deliver its development objectives but identified sustainable financing as a major challenge facing the state.
To address funding needs, Hamzat proposed establishing a State Wealth Fund to preserve resources for future generations. He also highlighted the need for innovative financing mechanisms to support key sectors, including education, infrastructure and justice, while balancing competing development priorities.
On the business environment, Hamzat identified challenges affecting micro, small and medium-sized enterprises (MSMEs), including unreliable electricity, high logistics and transportation costs, and unauthorised levies. He reaffirmed his commitment to streamlining taxes and levies, describing unauthorised collections as criminal, and improving the ease of doing business across the state.
The deputy governor also outlined plans to expand electricity generation, targeting an additional 500 megawatts through embedded generation for industrial clusters and independent power projects for public facilities. He said the approach would involve collaboration with existing power assets, including Egbin Power Station in Ikorodu.
Other proposals included establishing a State Economic Council to help manage economic growth and developing an integrated transport system combining rail, roads and waterways. Hamzat also highlighted plans to digitise land administration to speed up the issuance of Certificates of Occupancy, support the creative economy and decentralise service delivery across Lagos’ IBILE divisions.
The presentation further featured a proposed 100-point HAMZAT Compact intended to promote transparent and trackable governance. Business leaders and LCCI members reportedly responded positively to the blueprint, commending its clarity, practical focus and evidence-based approach.