Kadri Obafemi Hamzat, Dr., Lagos State Deputy Governor and All Progressives Congress (APC) governorship candidate for the 2027 election, has called for stronger public-private sector collaboration, improved revenue generation, and sustained infrastructure investment to secure the state’s long-term development. Speaking at an investment management engagement titled “The Exclusive Investment Parley with Dr Kadri Obafemi Hamzat”, organised by Aztran Company on Lagos Island, Hamzat highlighted the inherent complexities of public administration.
“Governance is far more complex than running a private business because the government does not have the luxury of choosing who it serves; it must serve everyone. That is why strengthening public-private sector collaboration is critical to delivering sustainable development for Lagos,” he stated. Comparing Lagos State’s N4.4 trillion budget with New York City’s $109 billion budget, Hamzat emphasised that the next phase of growth requires safeguarding existing investments while expanding financial resources for infrastructure delivery.
Hamzat highlighted key milestones in socioeconomic and political development, noting the successful implementation of 11 Oracle Enterprise Resource Planning modules, which enhanced financial accountability, eliminated ghost workers and revenue leakages, and significantly boosted internally generated revenue. He also pointed to the state’s capacity to finance major projects, such as rail development, despite limited resources.
On waste management, the Deputy Governor reaffirmed the government’s commitment to sector reforms through improved funding, efficient collection methods, and heightened support for Private Sector Participants (PSPs). He explained that the government is reviewing the current collection model to ensure PSP operators receive payments directly from the state rather than relying entirely on resident collections, while subsidies will remain in place to cushion rising operational costs.
Earlier, Victor Aluyi, Co-Managing Partner at Aztran, urged deeper cooperation between the private sector and the Lagos State Government to mobilise capital and bridge the infrastructure financing gap. Aluyi noted that government funding alone cannot meet the growing demands of mass transportation, power, affordable housing, waste management, and logistics. Valuing Lagos’s Gross Domestic Product at $260 billion, he described the metropolis as Africa’s second-largest city economy after Cairo.
Aluyi advocated for greater involvement from institutional funds and infrastructure financing vehicles, noting that Nigeria’s non-pension asset management industry expanded from approximately N10.1 trillion in 2024 to N16.5 trillion in 2025. He stressed that policy consistency, regulatory clarity, transparency, and effective risk-sharing mechanisms are essential to attracting investors and securing commercially viable partnerships. In closing remarks, Olayemi Agbe-Davies emphasised that broadening the state’s tax system would mutually benefit both the government and investors, expressing optimism that the parley would provide clear insights into emerging infrastructure opportunities ahead of the 2027 polls.
Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives.
