The Lagos State Government has revealed that it has released N1.6billion counterpart funding to boost infrastructural development in the on-going Lekki Free Zone Development Company (LFDC) project.
The Commissioner for Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye, revealed that the state government is 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.”
Ogunleye said 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.
He insisted that the LFZ project, which has remained the flagship of the state government industrial development initiative, was conceptualized to provide an enabling environment for industries to operate as well as attract both local and foreign direct investments into the state.
The commissioner, however, added that the ministry has remained unrelenting in its efforts to attain and sustain high levels of viable and vibrant commercial and industrial activities in the state in line with its mission to promote economic growth and development in the state.
He explained that the ministry has divided the zone into two parcels and four quadrants namely: South-West, South-East quadrant in parcel A and the North-West as well as the North-East quadrant in parcel B for ease of development.
