Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr) Mudashiru Obasa, has credited the Assembly’s legislative achievements as a major force behind Lagos State’s robust economic development and its growing influence on the national economy.
Speaking as Chief Host at The Expatriates Business Awards (TEBA) held on Sunday, July 6, at the Grand Ballroom of the Oriental Hotel, Victoria Island, Lagos, Obasa underscored the crucial role of effective lawmaking in creating a business-friendly environment that attracts investment and supports sustainable growth.
The TEBA event, organised by Pun Communications Ltd., brought together diplomats, business leaders, and industry stakeholders to recognise the contributions of expatriates, ethnic businesses, and migrant communities to Nigeria’s economic and cultural landscape.
In his keynote address, Obasa noted that the Lagos State House of Assembly, which he has led for ten years, has consistently delivered laws that strengthen the state’s economic foundations. He highlighted the Assembly’s legislative agenda as essential to establishing frameworks that facilitate trade, enhance transparency, and encourage private-sector participation.
“The Assembly plays a pivotal role in shaping the economic destiny of Lagos through legislation,” he said.
“We have updated and passed laws such as the Public Procurement Law (2021) to ensure transparent government spending, the Appropriation Law for effective resource allocation, and the Public-Private Partnership Law, which enables collaboration on critical infrastructure projects like roads and power plants.”
He also referenced the Land Use and Management Laws as key instruments for regulating development and attracting investment.
On security, Obasa pointed to the creation of the Lagos State Neighbourhood Safety Corps (LNSC) as an important legislative intervention that supports law enforcement and boosts investor confidence. “LNSC complements the efforts of the police by providing intelligence and aiding in crime prevention,” he said.
The Speaker praised Lagos for its welcoming spirit and historical openness to foreign influence. He recalled that the name ‘Lagos’ was coined by a Portuguese explorer who recognised the city’s strategic coastal location and economic potential. This openness, he said, remains a defining trait of the state’s character.
“Over the centuries, Lagos has continued to benefit from the economic participation of expatriates,” he observed. “From housing to education and leisure, their spending stimulates local businesses and accelerates urban development. Today, many expats enjoy a quality of life in Lagos that rivals what is available in their home countries.”
Obasa further described the city as a thriving hub of commerce, innovation, and opportunity.
“Lagos offers fertile ground for expatriate-led initiatives in leadership, industry, professional services, and international expertise. These contributions have been instrumental to our shared progress.”
Calling for deeper cooperation, he appealed to foreign businesses and residents to continue their contributions through responsible practices.
“This is a call to our expatriates: continue to support our development by paying taxes and embracing meaningful Corporate Social Responsibility. Through mutual respect and shared commitment, your enterprises will not only benefit Lagos, but also Nigeria, Africa, and the world.”
He commended the organisers of TEBA for recognising the value that migrant communities bring to Nigeria’s economic fabric and encouraged guests to use the platform to connect and collaborate.
“Let us use this evening not just to celebrate the winners, but to honour the spirit of enterprise and unity. Together, we can forge a future built on shared values and collective ambition,” Obasa concluded, before officially declaring the event open.
