Lagos’ global financial hub ambitions hindered by APC’s cronyism, says Rhodes-Vivour

Gbadebo Rhodes-Vivour, the Labour Party’s gubernatorial candidate for Lagos State in the upcoming 2023 general election, has voiced concerns that the state’s aspirations to become a global financial hub are being impeded by alleged cronyism within the All Progressives Congress (APC).

In a statement released on Monday, the Labour Party candidate criticized Governor Sanwoolu’s efforts to attract investors in London, labeling them as “underwhelming, dishonest, and incoherent.” He cited the dismantling of a $10 million tech investment designed to revolutionize bike-hailing services in Lagos as evidence of conflicting policies within the state government.

Rhodes-Vivour highlighted the vital role played by the talent and determination of young Nigerians in driving the success of the tech ecosystem. He pointed out that a significant portion of Nigerian startups is formally incorporated in the United States.

Emphasizing the contradiction between the governor’s ambition to transform Lagos into a major financial hub and the policies implemented locally, Rhodes-Vivour alleged that over the past 23 years, the APC administration has pursued policies hindering the city’s growth potential.

Addressing corruption issues, he claimed that corruption and cronyism have marred the state’s investment in critical infrastructure such as roads, bridges, housing, and waterways. He expressed concern about inflated contract costs, funds being diverted to cronies, and the struggle to complete impactful projects.

Rhodes-Vivour stressed the importance of an independent judiciary for attracting serious investors. He criticized the state government’s resistance to financial autonomy for the judiciary, stating that serious investors would hesitate to invest in an economy lacking judicial independence.

He concluded, “While Lagos has the potential to rival other major global financial hubs in the next two decades, it will remain a shadow of itself if led by administrators who lack the vision, competence, and character required to see it through.”