Lagos governor, Babajide Sanwo-Olu presents Lagos as an emerging tech hub at GAT Summit 2022

Speaking at the maiden edition of the Government and Tech (GAT) Summit in Lagos on Thursday, governor Babajide Sanwo-Olu of Lagos painted a picture of a state that his administration is determined to usher into the fourth industrial revolution and become a tech hub on the continent.

Sanwo-Olu, who was represented by Olatubosun Alake, his Special Adviser on Innovation and Technology said in his keynote address tagged “Regulating for Prosperity: the Lagos Example” that the government has been working and rolling out policies aimed at creating and encouraging innovations in the state.

“There exists a tremendous amount of potential to deliver real value for its citizens,” the SA said of Lagos in the speech.

Burnishing Lagos as an emerging tech hub, the SA announced at the GAT Summit the investments in innovation that the state has been making, including in telemedicine, fibre optic networks, intelligent transport systems and other technological advancements.

Allaying the woes of Nigerians from the Lagos State Traffic Management Authority (LASTMA), he said that the new intelligent transport system will reduce physical communication with the officers “so that LASTMA won’t even bother you anymore.”

But he said that all this will not be possible without regulations.

“One of the key factors for driving sustainable economic growth is regulation,” he said adding that “a balance must be struck” between citizens and regulators for the advancements to be made.

“When regulations are being formed, there are tons of factors that one must look at,” he said.

But he said that the regulations will be in lockstep with the demands of the sector.

“In Lagos, we are fully aware that regulations must be kept in steps of advancing the sector,” he said.

He also praised the Nigerian Startup Bill that was passed this week, saying that Lagos was very much involved in the process.

He added that Lagos is working on domesticating the bill “so that the process is faster. So that startups don’t have any issues in terms of access to funding or incorporating their business.”

Lagos, he said, “will continue to drive enabling initiatives.”