April 27th, 2022
LAGOS ISLAND CONNECT In Conjunction With LAGOS STATE OFFICE OF SUSTAINABLE DEVELOPMENT GOALS AND INVESTMENT And LAGOS CHAMBER OF COMMERCE AND INDUSTRY Present The Maiden LAGOS ISLAND ECONOMIC SUMMIT 2021. The Summit Will Be Unveiling The First In Class 2-Kilometer-Rule Initiative To The Nation.
The Lagos Island Economic Summit seeks to promote and showcase all businesses, grassroots government initiatives, including youth businesses within the local council, and to facilitate ways that it would fit into an agenda like the Nigerian Economic Summit, and other economic programs within the state.
(A) Highlight and amplify the economic importance of these core sectors:
iii. Arts & Culture
v. Commerce & Trade.
vi. Real Estate & Construction.
to the socio-economic growth of Lagos Island. And also to create a sustainable framework for policy permanence and strategic interventions by Government and NGOs at all levels.
(B) Undertake a sectoral evaluation of the current revenue generation capacity. And explore ways to boost inherent slack capacity of these sectors through creative ideas and support.
C. Make sectoral revenue growth projection and chart the right course to achieving this objective.
The 2km Rule is an initiative aimed at promoting the purchase of goods and services and recruitment within a 2km radius of a business enterprise operating out of Lagos Island, in order to promote the growth of the Micro, Small and Medium Enterprises (MSMEs) within Lagos Island, as a pilot, and then subsequently throughout Lagos State. The idea is that they will recruit staff and purchase goods and services from within Lagos Island first, before searching outside the locality.
In Nigeria, a lot of economic focus is on the Federal Government’s activities, with people not paying mind to activities at the local and community levels, activities that have a profound effect on national development and sustainability. We seek to promote Local Government Economic Summits to engage and showcase all businesses, social enterprise & grass roots government initiatives, including youth businesses within the local council and to facilitate ways that it would fit into an agenda like the Nigerian Economic Summit, the Ehingbeti Summit, the proposed ‘Made-in-Lagos’ Business Concept, the Lagos State Better Business Bureau (LSBBB) by the Ministry of Commerce, Industry & Cooperatives and other economic programs within the state.
We will develop initiatives that will promote learning & recreation: vocational, technical skills and capacity-building, support youth led businesses with other amenities for youth empowerment and information sharing within youth centers across the Island and state, starting with the Onikan Youth Center.
The 2km Rule is an initiative aimed at promoting the purchase of goods, services and recruitment within a 2km radius of a business enterprise operating out of Lagos Island. This idea could become the dominant economic and youth development model for local governments all across the country.
This first Summit themed ‘Sustainable Youth Engagement and Development’, is the flagship of the Local Government Economic Summits Initiative seeking to address the challenges faced by Lagos Island youth with the aim of helping them lead quality lives and contribute meaningfully to the society. This Summit will, through expert contributions, look towards proffering sustainable solutions and not one-off solutions to the present difficulties.
Summit Programme: The discussions at the Summit will be tailored for entrepreneurs and professionals in the sector, who are looking to engage one another for economic advancement. Topical policy, strategic, technical, and social issues will be discussed. High-level public servants will actively participate to give insights into relevant government policy directions, plans & future goals.
People: At the Summit, delegates will meet international, national and local industry leaders, professionals, strategic decision-makers from across the country; youth, government representatives, business leaders, and CSO professionals; and 20+ speakers, 750 delegates, 30+ exhibitors, and 50 media personnel.
1. To promote the 2km Rule initiative.
2. To encourage local production of goods, create employment opportunities and improve poverty reduction approaches.
3. To create synergy between corporate entities and communities, etc.
4. To promote shared prosperity, ownership, and security.
5. To stimulate the economy and strengthen the resilience of the local economy.
6. To bring about the restoration of values & ethics (bedrock for societal growth & development).
7. To encourage and provide local government communities with the avenues to engage with their leaders at the grassroots.
8. To improve access, accelerate and strengthen youth empowerment programmes and prepare the youth to take up leadership roles and encourage them to support the SDGs.