Lagos Govt Says Lekki Free Trade Zone Exported $30m Goods in one Year

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The Lagos State government says the multi-billion Naira Lekki Free Trade Zone (LFTZ) has exported goods worth US$30 million in the last 12 months.

The Commissioner for Commerce, Industry and Cooperatives, Mrs Lola Akande made this known on Thursday, during the 2020 Ministerial Press Briefing commemorating one year in office of the Governor Sanwo-Olu-led administration.

Akande said that 19 new companies were at various stages of deployment at the Free Trade Zone.

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She said that the Lagos State Government-owned 40 per cent while China Africa Lekki Investment Ltd (CALIL) owned 60 per of the Lekki Free Trade Zone Development Company (LFTZDC).

”For any Free Trade Zone (FTZ) to succeed, it must have efficient access for inward and outward shipment of goods and materials.

”It is in recognition of this fact that the Lagos State Government went into partnership with NPA(owning 5 per cent), Tolaram Group (owning 24 per cent), China Harbour and CHEC -owning 51 per cent and Lagos State owning 20 per cent.

”The Lekki Deep Sea Port will be the deepest port in West Africa with a depth of 16 metres, which means the port can accommodate bigger ships,” Akande said.

The commissioner said that the state’s public-private partnership on mixed industrial-residential development, also known as Alaro City, had attracted 24 companies with a business value estimated at $250 million.

She said that the companies would engage about 2,050 employees in the first phase of their operations.

According to her, the Alaro City project, located at Epe on a 2,000-hectare piece of land, comprised a mix of industrial concerns, homes, offices, healthcare facilities, schools and hostels among others.

The commissioner said that there were 24 new companies at various stages of development in the zone with the very first factory to set up there, Ariel Foods, opening for business in January 2020.

”Ariel Foods is the largest ready-to-use therapeutic food factory in Africa. Its investment in Alaro is a US$15m multi-sector investment, including investment in housing, soap and detergent production.

”The ground-breaking ceremonies for other investors at Alaro City such as ASB Valiant, Stadium (BUA Group), Kenol, HMD, Loatsad, Sana and Universal Homes also took place in January 2020,” she said.

Akande said that the infrastructure in place including roads which would open up access to 55 per cent of the site, a 1.4km dual carriageway asphalt road with a four-metre median, stormwater drains, street lighting and cycling lanes, are 90 per cent completed.

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