From Uzoma Dozie, Lekki, Lagos
Thank you for reading this post, don't forget to subscribe!Sir, David Pilling is right to point out Lagos as an example of Nigeria’s other side — its successful side (“Why Lagos works”, The Big Read, March 26). The dynamism of Lagos and its role in driving economic growth and development across the whole of Nigeria is often overlooked by western media still laboring under an outdated and stereotypical view of the country.
While it is heartening to see that this image is finally changing, it is imperative that the political leaders of Lagos, and Nigeria as a whole, seize the opportunity presented by the emergence of this more enlightened view.
Central to this opportunity is an acceleration in the development of a modern banking and financial services sector. We are already seeing huge breakthroughs in digital banking and the adoption of fintech-based services by Nigerian consumers — be they retail or business customers. But this expansion must be encouraged by policies that will see greater inclusion of women and rural communities into mainstream banking activity.
The adoption of wider business-friendly policies through the reform of our regulatory and fiscal approach is imperative too, if Lagos as a city, and Nigeria as a whole, is to fulfil its enormous potential. Nigeria is already Africa’s largest economy and enjoys many of the elements of success. But we cannot rest on our laurels. Lagos can be Africa’s 21st-century city but only if we recognise the opportunity and act decisively to realise that vision.
Uzoma Dozie
Chief Executive,
Diamond Bank,
Lekki, Lagos
