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The Lagos State Government has confirmed that the entry of Dangote Group into the Lekki Free Trade Zone (LFTZ), to set up a petroleum refinery complex and fertilizer plant has led to a boost in investment and industrial development of the zone.
For the Commissioner for Commerce and Industry, Mrs. Olusola Oworu,the Lekki Free Trade Zone project is now a reality as its expected benefits have started trickling in, particularly with the mobilisation to site of key players in the oil and gas sector.
Giving details of latest development taking place at the about 16,500 hectares of land on the tip of the Lekki Peninsula to the south-east of Lagos State, the commissioner noted that the project remained the flagship of the state government’s industrial development initiatives conceptualized to provide an enabling environment for industries to thrive, attract both local and foreign direct investments into the state and create jobs for the teeming population.
Mrs Olusola Oworu
The Commissioner added, “The joint venture arrangement has so far resulted in the development of 72km paved roads, 150 solar -powered streetlights, three standard factories, three units of VIP chalets and a telecommunications base amongst other infrastructural facilities.”
She stressed that as part of the infrastructural development plan of the zone, an Independent Power Project (IPP), gas-fired power project capable of generating 24 hours of power in the south-west quadrant part of the area has been initiated, adding that it would be completed before the end of the year.
The planned petroleum refinery complex will be producing 400,000 barrels per day and the fertiliser plant is envisaged to create 20,000 jobs during the construction period and about 8,000 engineers will be required in the course of operation of the plants.
Photo credits: www.ibejulekkipresscrew.blogspot.com , www.lfzdc.org