Home News Lekki Free Trade Zone To Get $62M-AMBODE

Lekki Free Trade Zone To Get $62M-AMBODE



Lagos State government has announced plans to partner with stakeholders in the Lekki Free Trade Zone axis to dualize Eleko-Ibeju Road beyond the zone to sustain Investment in the area.

Governor Akinwumi Ambode stated this much on Friday during an assessment tour of the Lekki Free Trade Zone where investors identified surrounding road network, encroachment of eight hundred hectares of land and lack of commitment from Stakeholders as major challenges hindering rapid development in the area.

During the inspection of work progress at the sixteen thousand, five hundred hectares of land in the zone, the Governor who lauded the communities for maintaining peace, stated that in the next six months, sixty two million dollars will be injected into the project to improve Infrastructure, provide water and improve inner roads network.

The Governor expressed confidence that within the next twenty-four months, there will be a remarkable change in the entire Lekki Free Trade zone, urging the Contractor of the Deep Sea Port to begin work by the end of April 2017 as scheduled.

He blamed the slow development of the zone on communal crisis of the past which claimed the life of the former Managing Director of the Lekki Free Trade Zone late Mr Tajudeen Yusuf promiding to improve the financial commitment on the part of the State government as Stakeholder part of which is clearing of the Lagos State government backlog of fifteen million dollars investment in the Lekki Free Trade zone between 2015 and 2017.

Chairman, Lekki Free Trade Zone Development Company, Biodun Dabiri noted that over six billion dollars had been invested in the last one year, urging government to urgently address its present challenges, for it to open its vision of diversifying earnings, crafting employment opportunities and attracting foreign Investments.

Also, the Managing Director of Lekki Free Zone Development Company, Ding Yonghua, called for an alternative road to the zone to accommodate the high number of Trucks and ensure the safety of the surrounding communities.

Representives of the China company, Mr Ding Yonghua and and Lekki Development Company, Dr Tunde Shodade, noted that there was need for offshore Banking service and urgent construction of alternative roads to encourage more investors which will in turn create employment for people in the region.


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