The Lagos State commissioner for commerce and industry, Mrs Olusola Senapon Oworu, yesterday disclosed that the proposed 650,000 barrels per day Dangote Refinery Complex and Fertiliser Plant located in the Lekki Free Trade Zone (LFTZ) will cost $11 billion to construct.
The commissioner made the revelation at a press briefing in Lagos, while also disclosing that construction work is ongoing in the refinery.
She said, “As we speak, tremendous construction work is ongoing on the Dangote site and the project is envisaged to create 20,000 jobs while being constructed.”
Oworu added that about 8,000 engineers would be required during construction and that the project would come on stream by the end of 2016. She explained that aside from Dangote, other high profiled investors have also indicated interest in the Lekki Free Trade Zone. The commissioner said that the state government has also provided 12 megawatts standby power plants to provide steady electricity supply in the LFTZ.
“Presently, a number of allocation request are also being processed by the ministry,” she said, adding that 500 hectares of land was allocated to an investor for site and service development in Parcel B.
According to her, the ministry also took steps to foster good relationship between the host communities and the LFTZ, adding that payment of N785 million was made to communities in Parcel A in 2009 and that 50 per cent compensation was also made to Yegunda and Abombti communities in Parcel B. She assured that the balance of 50 per cent, comprising N541.5 million, would be paid within the second quarter of 2015 by the Land Bureau.