The maiden edition of the Ikorodu Economic Summit was held on the 22nd February 2018 at Origin Event and Zoos with the theme “Stabilizing Local Economy”.
The Summit was convened and hosted by Ikorodu Oga Development Association, led by Otunba Ganiyu Olusegun Abiru, in conjunction with a research based, not-for-profit Organization, called Advocacy for Community Economic Development represented by Messrs Oke Godwin Olaoluwa and Bashir & Oluwakemi Hassan.
The Summit was aimed at identifying the economic potentials of Ikorodu Division thereby drawing the attention of government, investors, and relevant Stakeholders to the division’s inherent untapped potentials and opportunities.
The Summit goal is an inclusive and participatory process towards building Ikorodu Division through a model of community economic development, partnering with local Organizations, Private businesses and Lagos State Government.The Summit was an opportunity for captains of industry, business leaders, policy makers, and local Organizations to collectively chart a roadmap for a sustainable economic development of Ikorodu Division.
The Summit was chaired by a renowned Economist and former Director at the African Development Bank, Dr Temitope Oshikoya (CEO, Nextnomics). He asserted that all economies are local and that local economies, are key to driving central economies of nations across the globe. Dr Oshikoya noted that Ikorodu has resources that can be tapped for Industrial, Commercial, Tourism and Agricultural activities.
The keynote address was presented by Bar. Olayinka Oladunjoye, Honourable Commissioner for Commerce, Industry and cooperatives, Lagos state. Mrs Oladunjoye described the summit as apt considering the numerous reforms, initiatives, projects and programmes embarked upon by Lagos State Government for the continued growth and development of the State economy.
She underscored several projects, which the Lagos State Government had embarked upon within the Division. The Commissioner enjoined all Community Development Associations such as IKODAS to collaborate with the Government, to evolve policies that will provide the roadmap for our journey to economic prosperity.
The Summit had in attendance over 420 participants including Commissioners from Lagos State, Royal Fathers in the Ikorodu Division, Members, House of Representatives and State House of Assembly representing Ikorodu Division, Presidents and members of Oriwu Club and other social Clubs in Ikorodu Division. The Panel Sessions has ten (10) facilitators with Dr Olukayode Tajudeen Bawa-Allah, Prince Abiola Kosoko, Dr T.A. Okeowo, Mr Seun Onigbinde, Mr Sola Adewunmi, Prince Wale Oyekoya, and Mrs Kemi Ajiboye as Panelists.
After extensive deliberations, participants made the following recommendations:
IKORODU DEVELOPMENT ECONOMIC COUNCIL
- That all economies are local and the economy of Ikorodu Division is estimated at more than US$5 billion. Hence there is need for the State to focus attention on the Division.
- That charity should begin from home: influential Ikorodu indigenes at home and in diaspora should look at possible areas of investment within the Ikorodu Division.
- That Corporate Organizations, private businesses and industries within the Ikorodu Division should improve on their Corporate social responsibility (CSR).
- That a Committee should be set up by IKODASS and relevant stakeholders to ensure the formation of Ikorodu Development Economic Council (IKODEC).
- That the “Mokiti Reserve” which is perceived to be the biggest game reserve in western Nigeria with the largest collections of rear animals should be developed and preserved. This has the potential to boost the economy of the State
- That the historical island such as the Apaa titun Island and Palava Island should be preserved and developed as tourist attraction sites.
- That the State government should consider setting up Ikorodu Division Local Tourism Board, which will be responsible for identifying, preserving and promoting the tourism potentials of the division.
- That Ikorodu Division has the largest shrimp and crab breeding grounds. Efforts should be geared towards attracting investors to these sites.
- That Ikorodu Division has a comparative advantage in the areas of livestock and fish farming and should be considered for possible investment opportunities.
- That there is an urgent need for the Ikorodu Division to consider agro-allied processing value chain so as to create local jobs.
- That Youths should be trained in agric-business inorder to make them self-sustainable.
- That the State government should set up a collection center for agricultural produce within the division. This will provide an easy access to market by farmers.
BUSINESS DISTRICTS, ICT HUB AND VOCATIONAL TRAINING
- That as a result of the fast-growing population and springing up of new businesses in Ikorodu, there is a need to designate certain areas as central business districts.
- Participants decry the lack of access of the youths to the capacity building programme and support funds of the Lagos State employment Trust fund.
- That information technology has the capacity to attract millions of dollars in foreign exchange to Ikorodu division. Government and investors should consider the setting up of tech hubs within the Ikorodu division so as to create an ICT ecosystem, thereby generating employment opportunities for our teeming youths.
- The private investors and business men/women in Ikorodu should support the government’s drive at improving the states revenue through tax payment. Participants promised to continue payment of their taxes diligently, but also called on the government to improve and concentrate more on inner roads and other infrastructure within the division.
- That the transformation of the Ojodu-Berger corridor should be replicated at Ikorodu Garage roundabout to ease the incessant gridlock at that corridor.
- That the State government should endeavor to erect road signals and caution signs at the mile 12 – Ikorodu Road to reduce incessant road accidents on the axis.
- That the State government should seek the replication of the shoreline development in Victoria Island and its environs at Ikorodu. Searchlight on areas suitable for possible shoreline development includes among others, Owutu, Ipakodo, Ibeshe, Offin, Bayeku, Ijede, and Imota.
- The Participants commended the State government in the concessioning of the Ebute jetty terminal. They, however, requested that residents and indigenes of the division should be given priority in their employment and other opportunities.
- Participants at the Summit supported the ongoing State projects as highlighted by the Commissioner for Commerce, Industry and Cooperatives, but however, appealed for timely completion of the same.
Participants appreciated the initiative of IKODAS in organizing the Summit and applauded its success. Participants urged that the recommendations of the Summit should be submitted to the Lagos State Government and that the tempo of the Summit be sustained in the years ahead.
Done at Ikorodu, this 22NDday of February 2018.