Lagos, Gauteng province seek economic ties

Lagos, the bustling economic hub of Nigeria, and Gauteng Province in South Africa are set to embark on a groundbreaking economic partnership aimed at driving growth and collaboration between the two vibrant regions. The Premier of Gauteng Province, David Makhura, recently engaged in high-level discussions with the government of Lagos State and key investors to explore ways to foster economic ties that will benefit both regions and their residents. During the meetings, CNBC Africa had the opportunity to sit down with Foluso Phillips, Chairman of the Nigeria-South Africa Chamber of Commerce, who shared insights on the potential of this partnership. Phillips expressed optimism about the initiative, highlighting the importance of sub-national collaborations in enhancing mutual economic development. Phillips emphasized the significance of bringing together Lagos and Gauteng Province, two influential economic powerhouses in their respective countries. He pointed out that while Nigeria and South Africa have previously struggled to fully leverage their economic potential at the national level, focusing on sub-national collaboration offers a more manageable and effective approach. The Chairman of the Nigeria-South Africa Chamber of Commerce underscored the importance of private sector involvement in driving this partnership forward. He suggested the establishment of a business council comprising representatives from both the public and private sectors to facilitate meaningful engagements and foster sustainable growth opportunities. Highlighting the cultural richness and diverse heritage of Lagos, Phillips proposed a holistic approach to the partnership, encompassing not only economic discussions but also social and cultural exchanges. He recommended that leadership from Lagos State take the lead in initiating a delegation to Gauteng Province, showcasing the vibrant spirit of Lagos and fostering a deeper connection between the people of the two regions. In celebrating Lagos' 50th anniversary, Phillips emphasized the need to captivate the imagination of Gauteng Province and showcase the dynamic essence of Lagos beyond its economic prowess. He envisioned a comprehensive delegation trip led by the governor of Lagos State, encompassing various aspects of social, cultural, and economic engagement to enrich the ties between the two regions. As the partnership between Lagos and Gauteng Province gains momentum, Phillips encouraged a multifaceted approach that extends beyond economic exchanges to encompass a broader spectrum of interactions. By nurturing a deeper understanding and appreciation of each other's culture, society, and economy, Lagos and Gauteng Province aim to forge a lasting and impactful collaboration that benefits both regions. The collaborative efforts between Lagos and Gauteng Province signal a promising step towards enhancing economic cooperation and fostering sustainable growth opportunities that transcend borders and enhance the prosperity of their respective populations.