State Assembly fuels Lagos economy, says Speaker Obasa at TEBA, highlighting legislative efforts that support investment, security, and sustainable development

The State Assembly fuels Lagos economy through progressive lawmaking and strategic reforms, according to the Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr.) Mudashiru Obasa.

Also read: Lagos Lawmakers Honour Obasa Leadership Decade Milestone with New Legacy Plans

Obasa made this known while addressing guests at the 2025 Expatriates Business Awards, held on Sunday, July 6, at the Oriental Hotel, Victoria Island.

He described the Lagos Assembly as a legislative engine powering business development, foreign investment, and infrastructure across the state.

He explained that the Assembly has over the years enacted landmark legislation, including the Public Procurement Law, Public-Private Partnership Law, and the Appropriation Law.

These laws, he noted, enhance transparency in government contracts, enable private sector partnerships, and support capital projects that drive economic activity.

“The legislature plays a vital role in shaping the future of Lagos. Through smart laws and responsive governance, we’ve made the state attractive to investors and safe for residents,” Obasa said.

The Speaker also referenced the creation of the Lagos State Neighbourhood Safety Corps, which he said boosts public safety and helps prevent crime.

“We are committed to protecting citizens and foreigners alike. Safety is key to sustaining business confidence,” he added.

Obasa highlighted Lagos’s longstanding history as a welcoming city, recalling that a Portuguese explorer renamed it from Eko to Lagos centuries ago due to its vibrant trade prospects.

He stressed that the presence of expatriates and migrant communities has helped grow the local economy through housing, education, tourism, and service-related spending.

“Lagos offers a high quality of life. Expats bring leadership, innovation, and capital, and we continue to provide an enabling environment for them to thrive,” he said.

He praised the contributions of the international business community and encouraged expatriates to give back through Corporate Social Responsibility initiatives, tax compliance, and inclusive partnerships with local businesses.

Obasa said, “This is a clarion call to our expatriate friends — your presence is deeply valued, but so is your contribution to the society that hosts you. Let us grow together.”

He commended the organisers of the event, Pun Communications Ltd., for spotlighting the role of foreign businesses in Lagos’s economic journey.

Closing his remarks, Obasa urged business leaders to continue building bridges across communities. “Let us work as one — local and global — to create a stronger, inclusive, and prosperous future,” he said.

Also read: Obasa Applauds Journalists Honoured for Democracy Contributions

The event, which celebrated excellence in cross-cultural enterprise, showcased the vital role of migrants and expatriates in strengthening Lagos’s economic foundations.