The Commissioner for Economic Planning and Budget Lagos State Sam Egube, has stated that the investment inflow into Lagos State’s technology space has hit over $1.5 billion in five months.
He added: “The Google underwater cable coming into Lagos, all of that will reduce the cost of internet services and increase the speed. So the capacity of all of that is almost 20 times that are coming into this place and it is going to create jobs. Is going to make it possible for us to work faster for companies in Nigeria and for companies abroad from Nigeria.”
“We will continue to push the envelope further as we have the Knowledge, Innovation and Technology and Enterprise center in Yaba which is a big technology campus we are putting there and we are driving another one out of Lagos State University Campus. Indeed, Lagos is leader right now in Africa as well long as technology and enterprise support is concerned and we expect to remain so our next target is to begin to also need in emerging markets,” he averred.
“As of today, we are at 70 per cent in terms of budget performance and on the revenue side, we are at 81 per cent. So it is transforming those revenue into execution speed, “he said.