Lekki Free Zone rakes in $15bn investment

The Lekki Free Trade Zone (LFTZ), has raked in investments valued at over $4bn already. This is aside investments- Refinery and Fertilizer plants- put in place by business tycoon, Aliko Dangote, estimated at$11bn.

This much was revealed by Lagos state Commissioner for Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye; while giving account of stewardship at a press briefing in Alausa, Ikeja, to commemorate the second year in office of Governor Akinwunmi Ambode.

According to him, 116 investors have so far registered with LFZ out of which 16 have commenced full operations, noting that “the Lekki Free Zone remains a landmark industrial project for the Lagos state government.

“The strategic partnership between the Lagos State Government and the China-Africa Lekki Investment Limited (CALIL) in the Lekki Free Zone Development Company (LFZDC) is a testament to the undying resolve of the state government to ensure sustainable industrialization of the state that would translate to improved job and wealth creation as well as economic growth through the attraction of local and foreign direct investments.

“I am very happy to inform you that 116 investors have so far registered with LFZ out of which 16 have commenced full operations.

While some factories are currently under construction, 100 investors have also signified their intention to register and situate their business within the zone,” he said.

Ogunleye named some of the investors already functional at LFZ to be the Candel FZE, Lovinghome Furnishing FZE, Crown Natures Nigeria, H&Y International, Asia-Afruca FZE, ZNI Jian Nigeria FZE, among others.

He stressed that the zone, which was fast becoming a beehive of activities, was now enjoying peace from the initial unrest which hitherto affected the area at inception, when indigenes who were agitated challenged government’s developmental activities, plans and projects.

He added that the state had paid compensation to communities affected by the Lekki Free Zone project, to the tune of over N740 billion.

The amount, he said, represents compensation to the host communities of parcel B comprising Yegunda and Abomiti, as well as Lekki-Epe International Airport Zone.