WHY THE LEKKI FREE TRADE ZONE?
WHY THE LEKKI FREE TRADE ZONE?
The Lekki free trade zone project began in 2002. Built within a distance of just 65km from Lagos, the free trade zone is strategically located to serve the exponentially growing metropolis as well as the promising Nigerian hinterland. Starting with over 215 hectares of pristine land and an additional 590 hectares of land in 2012, the Lekki free trade zone has the potential for expansion and the capacity to support a growing economy. It serves as a gateway to emerging economies like Mali, Chad, Sudan and Central African Republic. It also has great accessibility road networks, proximity to new international airport, a Sea link through the Atlantic Ocean and an International Reach to Europe, America, and Western Africa.
OTHER ADJOINING PROJECTS
- The Lekki Seaport
A multi-purpose, Deep Sea Port at the heart of the Lagos Free Trade Zone, the Lekki sea port will be one of the most modern ports to be built using the latest technology, global standards and the best team of professionals, supporting the burgeoning trade across Nigeria and the entire West African region.
- The New International Airport
A monumental project seated on a 3,000 hectares of land on the Lekki-Epe corridor with a project investment cost of $450million.
- The Dangote Refinery
Mr. Aliko Dangote, Africa’s richest man, is building a refinery, petrochemical, gas, and fertiliser plant at the Lekki Free Trade Zone in Lekki, Lagos.
Globally, Free trade zones are known to have one of the largest job creation capacities. Record has shown that for every job created in Free trade zones, two additional jobs are created through a multiplier process.
Apart from the 135,000 direct jobs that will be created from the Dangote projects, another 100,000 indirect jobs would be generated while income accruable to the Federal Government would be in the region of over $500million in three years.”
The Vice President Mr. Osinbajo stated that the Dangote Gas plant when completed, will have the capacity to produce about three billion cubic feet of gas daily, which would permanently address the two billion cubic feet daily gas required to power the country.
The Chairman of Dangote Group, Aliko Dangote, has said his Gas Pipeline Project would increase the Gross Domestic Product as well as provide uninterrupted power supply in Lagos.
Half of Nigeria’s crude will be refined locally, exported by 2021 – Dangote
The Lagos State Government has released N1.6billion as part of its equity contribution in the Lekki Free Zone Development Company (LFDC) to boost the on-going infrastructural development as well as encourage investors’ participation in the project.
The 4th Mainland Bridge project from Langbasa near Ajah across the Lagos lagoon to Ikorodu is another project that will help to reduce linear movement of persons and goods on the Lekki-Epe expressway and create alternatives for people going to other parts of the state and the country when the sea port and other projects get completed.
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