TeeFras Homes & Properties

*Pls read through the commissioner's statement on the current state and plan within and around the free trade zone* 👇

Lekki Free Zone: An Industrial Paradise - Commissioner

The Lekki Free Zone (LFZ) has been described as an Industrial Paradise where companies can operate freely without any hitch because it is equipped with all necessary facilities for optimal operation with a good ambience for investment.

The Lagos State Commissioner for the Ministry of Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye stated this at the ongoing 2017 Ministerial Press Briefing in commemoration of the second year in Office of Governor Akinwunmi Ambode and the 50years anniversary of Lagos State.

The Commissioner maintained that the LFZ is a landmark industrial project of the State government and a testament to the undying resolve of the present administration to ensure sustainable industrialisation that would translate into improved job and wealth creation as well as economic growth through the attraction of local and foreign direct investment.

Commenting on the veracity, sustainability of the project and government’s commitment to it, the Commissioner disclosed that the State has 40% equity funding in partnership with its Chinese counterpart, the China-Africa Lekki Investment Limited who has 60% equity funding, adding that the State is making payment in installments and is up to date in payment.

In addition, he said it is the most successful Free Zone in Nigeria with over 4billion dollars in foreign and local investment alone apart from the Dangote investment in Petro-Chemical, refineries and allied products with over 650 thousand barrels per day which is more than the capacity of the four refineries in the country and estimated at over 11billion dollars in value.

Ogunleye further noted that 116 investors have registered with LFZ out of which 16 have commenced full operations while some factories are currently under construction and a hundred investors also signifying their intention to register and situate their business within the zone.

The Commissioner said the project is alive and realistic with huge potential for the future, stressing that it holds the key to future recovery and diversification of Nigeria’s economy.

*Ibeju Lekki Opening up to connect to other parts of Nigeria.*

Gov. Akeredolu Records Landmark Achievement, Links Ilaje With Lagos

Governor Oluwarotimi Akeredolu (SAN) signing a Memorandum of Understanding (MoU), with the Niger Delta Development Commission (NDDC), to construct a 50 kilometer road to link Ondo State with Lagos. The road is expected to connect Araromi seaside in Ilaje Local Government of Ondo State with *Akodo in Ibeju-Lekki Local Government Area of Lagos state.*

The first and only MoU ever signed by NDDC with any state government within it's mandate area (the Niger-Delta region). The people of Ilaje and the Niger-Delta areas of the state have rolled out drums to thank Gov. Akeredolu and NDDC for this laudable stride. This 50 km road is expected to be completed within two and a half years.

"Once this project is completed, the people in area and it's environs can now travel to Lagos by road in less than an hour, as against the usual 4 - 5 hours spent through other roads to Lagos.

The construction of the age-long neglected 50 kilometers road from Akodo in Ibeju Lekki area of Lagos State to Araromi in Ilaje local government area of Ondo State will no doubt boost integrated economic development in Ibeju Lekki and Ondo State

We hope beyond the signing of the MOU, work will commence swiftly towards completion of the 50km road in a good time.