Hamzat Seeks Stronger Private Sector Role In Lagos Development

Lagos State Deputy Governor and All Progressives Congress (APC) governorship candidate for the 2027 election, Dr Kadri Obafemi Hamzat, has called for stronger collaboration between government and the private sector to accelerate infrastructure development and sustain economic growth in the state.

Hamzat made the call on Wednesday at an investment engagement organised by Aztran Company on Lagos Island, tagged “The Exclusive Investment Parley with Dr Kadri Obafemi Hamzat.”

He said governance was more complex than managing a private business because government institutions were responsible for serving everyone while addressing competing social and economic demands.

According to him, effective partnerships between government and private investors are essential to delivering sustainable development and meeting Lagos' growing infrastructure requirements.

Comparing Lagos State's N4.4tn budget with New York City's $109bn budget, Hamzat said the state needed to sustain existing investments and expand available resources to finance future infrastructure projects.

He highlighted the implementation of 11 Oracle Enterprise Resource Planning (ERP) modules as part of the government's administrative reforms, saying the system had strengthened financial accountability, eliminated ghost workers and reduced revenue leakages.

The deputy governor also cited investments in rail infrastructure as evidence of the state's capacity to execute major projects despite financial constraints.

On waste management, he reaffirmed the government's commitment to improving funding arrangements, waste collection efficiency and support for Private Sector Participants (PSPs).

He disclosed that the government was reviewing the existing collection arrangement to enable waste management operators to receive payments directly from the state rather than relying exclusively on charges collected from residents.

He added that subsidies would be maintained to cushion the effects of rising operating costs on the operators.

Earlier, Aztran Co-Managing Partner, Victor Aluyi, urged investors to mobilise private capital to address Lagos' infrastructure financing gap, noting that government resources alone could not meet the state's expanding needs.

He identified mass transportation, electricity, affordable housing, waste management and logistics as critical areas requiring increased private investment.

Aluyi estimated Lagos' Gross Domestic Product at $260bn, describing it as Africa's second-largest city economy after Cairo.

He also cited the growth of Nigeria's non-pension asset management industry from approximately N10.1tn in 2024 to N16.5tn in 2025, urging stakeholders to channel more institutional funds into viable infrastructure projects.

He said policy consistency, regulatory clarity, transparency and effective risk-sharing arrangements were necessary to attract investors and establish sustainable public-private partnerships.

Another participant, Olayemi Agbe-Davies, identified revenue generation and tax reform as important to improving the state's investment environment.

He advocated a broader, simpler and more predictable tax system that would benefit government and businesses while strengthening the state's revenue base.

Agbe-Davies said the engagement would help investors understand emerging opportunities and Lagos' development priorities ahead of the 2027 governorship election.

He urged participants to maintain their commitment to long-term investments and strategic partnerships to support the state's economic development.