My plan to diversify $132bn Lagos economy – Doherty

THE gubernatorial candidate of the Action Democratic Congress (ADC) Funsho Doherty has revealed his plans to diversify and advance the growth of $132 billion Lagos economy.

Doherty, a chartered accountant, who spoke at a Business and Economy programme on Arise Television on Sunday, March 12, said if given the opportunity to govern Lagos, he would ensure transparent governance, working closely with the organised private sector.

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Commenting on Lagos urban planning, he said, “One of the things that is important is that there’s a massive concentration in the central region of Lagos, which is not so good in the way the city has evolved.

“If we have the appropriate transit infrastructure, linking Ikorodu, Epe, you will have a decentralisation of the city being developed around other axis and have hubs of activities where people can love and work and grow the economy in their respective clusters.”

He noted that the transportation and transit infrastructure brings the different part of the city together, and also grows the economy.

Doherty said he would be leveraging capital market as a great source of funding.

“I think because we have that commercial viability, credibility and debt capital could help us a lot,we would leverage seriously on private capital from the capital market for development.

“The momentum that Lagos have makes it a commercial destination and we must maximise that opportunity.”

On debt sustainability, he said long-tenured debts must be worked out and planned years ahead with constant reviews that enables the state have healthy economic status.

Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

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