Lagos Govt Releases N1.6billion for Lekki Free Trade Zone Development

The Lagos State Government has released N1.6billion as part of its equity contribution in the Lekki Free Zone Development Company,LFDC.

The amount released is to boost the on-going infrastructural development as well as encourage investors’ participation in the project.

The Commissioner for Commerce, Industry and Cooperatives, Rotimi Ogunleye, who revealed this at the 2016 ministerial press briefing of the state government in commemoration of Governor Akinwunmi Ambode’s first year in office, said he was engaging the host communities to ensure a sustainable cordial relationship with investors in the zone.

He said: “I want to assure all prospective investors in the zone that the government has overhauled the security network in the area in order to guarantee a safe haven for investment.”

He hinted that the World Bank report listed the Lekki Free Zone as the fastest growing FZ, adding that the products from the zone are compliant with international standards as they go through the standardization laboratories.