The Lagos and Kano state governments have signed a Memorandum of Understanding (MoU) for economic partnership and to jointly explore investment opportunities in both states.
The MoU, which was signed by Governor Akinwunmi Ambode (Lagos) and Governor Abdullahi Ganduje (Kano) on Thursday, is aimed at creating jobs and facilitating growth and development.
It also seeks to create a common platform for exploring, expanding and developing areas of economic development and investment.
The governors signed the agreement at the closing ceremony of the inaugural Lagos-Kano Economic and Investment Summit in Lagos.
Under the agreement, the two states have also set up a Technical Working Group to oversee the implementation of the objectives of the MoU.
In her closing remarks at the summit, Lagos State Deputy Governor, Dr Idiat Adebule, said the signing of the MoU by the governor was a clear testament of the commitment of both states to collaborate in the overall best interest of the people.
She said the leaders, by the development, “are telling the entire world that collaboration, cooperation, partnership can always work to bring about economic sufficiency in our states and, of course, the entire nation.”
While describing the summit as historic and successful, Adebule said the programme witnessed presentations from experts, erudite minds, scholars from both public and organised private sector with numerous positions expressed and outlined.
“In this process, our minds have been availed with torrents of ideas, information, statistics, interpretation and above all vision and collaboration leading to economic sufficiency,” she said in a statement by the chief press secretary to Governor Ambode, Habib Aruna.
“I am convinced that the most valuable outcome of this engagement is the fact that we have governors who have a vision and have the opportunity of sharing this vision. Today, we are not just sharing the vision but providing an enabling environment for this vision to be actualised,” the deputy governor added.
According to the MoU, Lagos and Kano states agreed to expand the current level of economic and investment cooperation between them, especially in key areas of governance, security, Internally Generated Revenue (IGR), agricultural value chain, tourism, education, Information and Communication Technology (ICT), as well as skills development.
Other areas include commerce with a specific focus on ease of doing business and infrastructure in power, transportation, and urban waste management.
The objectives of the MoU, among others, are to establish a formal and flexible framework between both states to expand trade and investment cooperation, foster scientific and technological collaboration for business development in emerging key sectors, strengthen communication, enhance trust, boost economic development and create jobs.