The Lagos and Kano State governments yesterday signed a Memorandum of Understanding (MoU) to jointly explore investment opportunities aimed at creating jobs and facilitating growth and development. The MoU, which was signed by Governors Akinwunmi Ambode and Abdullahi Umar Ganduje of Lagos and Kano states respectively, at the closing ceremony of the inaugural Lagos-Kano Economic and Investment Summit held at the Jubilee Chalets, Epe, Lagos seeks to create a common platform for exploring, expanding and developing areas of economic development and investment. According to the MoU, the two 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) and Skills Development.
Other areas include Commerce with 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 the two 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. Under the agreement, the two states have also set up a Technical Working Group to oversee the implementation of the objectives of the MoU.