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Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 4:49am On Jan 07, 2010
Model City Layout

Modern Building

modern roads

segmented industrial layout


Welcome to the new model city. A place of unparalleled opportunities where business thrives and investors believe in their limitless potential to shape tomorrow. Conceived in the heart of Africa to connect the regional markets to the globe, aimed to dissolve obstacles and boundaries towords encouraging growth, sustainable development and creating a brighter future for the people, the Lekki Free Zone is a magnet for international investment attracting pioneering minds and partners.



“The administration of Lagos is determined to make Lagos the investment destination of choice in Africa and ensure that the global business community is fully aware of the vibrancy and opportunity in our growing economy. Investors from all over the world are showing increasing confidence in Lagos.”

Executive Governor of Lagos
Babatunde Raji Fashola
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 4:51am On Jan 07, 2010
Lekki Free Zone was initiated by the Government of Asiwaju Ahmed Bola Tinubu in 2003 with a land area of 1000hectares allocated for the project which was later increased to 3000 hectares on registration with the Nigerian Export Processing Zone Authority (NEPZA). However, realizing the relative advantage of a Free Zone in Lagos above other parts of the nation, the vision was expanded to building a model city devoid of stress and accompanying social vices and the land area was increased to 16,500hectares.


SUMMARY OF LEKKI FREE ZONE PROJECT

A. A preferential policy hi-tech industrial sector, targeted to create a minimum of 2 million jobs and high efficiency services in:

1. Oil and Gas
2. Petrochemicals
3. Electronics
4. Mechanical - Light and Heavy equipment, mechinery and automobiles
5. Pharmaceuticals
6. Textiles
7. Shopping, Warehousing and Transportation
8. Banking and Financial Centre including Insurance services


B. A high-grade residential Zone with first classenvironment due to the envisioned economic strenght of the Lekki Free Zone, comprising of:

1. High Class residential apartment and villas for investors and employees
2. Shopping Malls & Plazas
3. Specialist Hospitals and Clinics
4. Schools and Research & Development Centres
5. Hoteld, Tour & Recreational Centres including Sandy Beach Gardens and bathing, Golf Coures, Gyms and Water Sports sector, all in harmony with environment and nature's green

COMPETITIVE ADVANTAGES OF LFTZ

1. LFZ is located on the southern coast of Nigeria and connected to the major international waterways via the Atlantic Ocean and the Gulf of Guinea.
2. LFZ is located on the southern coast of Nigeria and connected to the major international waterways via the Atlantic Ocean and the Gulf of Guinea.
3. Access to the largest consumer market in Africa, with over 500 million potential customers.
4. Access to abundant natural resources such as Oil, Natural gas, Timber, Rubber, Cocoa, Arabic gum and Sesame seed to name but a few.
5. Favourable geographical location and ascendant location to other parts of Africa, Europe, Middle East and the Americas.
6. It has availability of skilled and semi-skilled man power.
7. The social situation of LFZ with its natural ecosystem, unpollutted green lands and ecological lakes and lagoon which together make it ideal for a modern, yet serene city.


Facts about Lekki Free Zone (LFZ)

Lekki Free Zone (LFZ) comprises 16,500 hectares to the southeast of the city of Lagos, two peninsulas of infinite opportunities bounded by the Lekki lagoon and the Atlantic Ocean. The free zone was launched in 2004 as a vehicle to fully utilize the investment and tourism potential of Lagos.

Lekki is a new city under development that will operate in accordance to best international practices. It is also one of the fastest developing urban areas with an annual economic growth of 16.8%. The Lekki free zone is a multi-use facility with zones for oil and gas, industry, manufacturing, business & financial, media centres, commercial, real estate, recreation and tourism.

The proposed land use master plan for the LFZ subdivides the area into four main quadrants each having its own land use and consequently its own theme. Based on the proposed land use plan, LFZ will be divided into 4 main Quadrants:

South West Quadrant (SW) - General mixed industries, including light and medium engineering with a large part dedicated for logistics and distribution, potentially serving both the international and national markets. In addition a new special residential area is proposed to the north of the industrial zone, with both low and high-density housing, largely intended for as a leisure and residential resort with tourist facilities

South East Quadrant (SE) - petro chemical related industries and port facilities, if approved a methanol plant will be located in this area

North West Quadrant (NW) - general mixed industrial area, including medium and light industrial uses as well as heavy uses. Housing for the workers in the Free Zone area will be provided within this quadrant where residential areas of different densities and house types would be provided to the north and south of the main industrial zones.

North East Quadrant (NE) - mixed-use urban area as a new waterside town providing a range of employment, commercial, residential, community and recreational uses. It will complement the role of the other three quadrants and act as the city, administrative, business and residential centre for the whole of the FZ.
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 4:55am On Jan 07, 2010
This video covers the infrastructural development goals of the Lekki Free Trade Zone

[flash=425,344]
https://www.youtube.com/watch?v=qEZ471l4N8Q&hl=en_US&fs=1&[/flash]
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 5:24am On Jan 07, 2010
What we do
A tripartite agreement was signed among the Lagos State Govenrment, Lekki World wide Investments Limited ( a private limited liability company of Lagos State Government) and a Chinese Consortium ( CCECC- Beyond) in Nanjing to develop the Zone.

The Objectives include:

1. Full exploration/exploitation of the investment business and tourism potentials of Lagos State.
2. Creating a model city to cater for the rising commercial and social activities in Lagos State
3. Developing and encouraging backward images and integrated with foreign partners
4. Developing an oversea economic zone as a global business paradise to attract international and local investments through trade and export promotion
5. Creating an economics platform to facilitate the inflow of Foreign Direct Investments (FDI) of :

1. Effective and efficient technology
2. Capital
3. Information technology
4. Knolowledge base

The establishment of Lekki Free Trade Zone Has finally berthed in the new, reinvigoratined democratic pursuit of a national economic reform agenda, geared towards a productively diversified , functional, private sector-driven national economy completly governed by law, order and institutional processes.

Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 5:32am On Jan 07, 2010
Incentives in the zone

100% foreign ownership of investments

100% repatriation of capital, profit and dividends

100% tax holiday, custom duties and levies

100% tax free imports of raw materials and components for goods destined for re-export(this is big)

100% waiver on all import and export licenses

100% permission to sell manufactured, imported and assembled goods to the Nigerian domestic market

100% restriction free to hire foreign employees, waiver on all expatriate quotas for companies operating in the zone

100% hassle free business environment

100% government alignment with Lekki vision and mission

On Site Activities Now In Top Gear with Clearing and Construction.

The first volley of activities on the site of the LFTZ commenced in the November – December dry season of 2006. This period witnessed a high tempo of construction works and earth filling in order to provide more access roads across the swampy mangrove vegetation to the northern upland of the zone. The construction works were also aimed at creating a stable topography for the low – lying areas as well as obtaining a good drainage gradient for displacing storm waters from the entire 30 square kilometers locations.

The concentrated construction efforts resulted in opening up more than 8 kilometers of three road categories which have already been filled with over 350,000 cubic meters of earth as the foundation for the roads meanwhile, more than 25 hectares of mangrove swamp forest has been cleared to pave way for preliminary works in the zone.

Lagos State First Citizen Comes Calling

On 10th November 2007, barely six months after his may 2007 inauguration as the executive Governor of lagos state, Mr.Babatunde Raji Fashola, (SAN) paid his maiden official visit to the site of the lekki free zone - the brain child of his predecessor government Ahmed Bola Tinubu's eight - year government (1999 - 2008).
Considering the understandable welter of weighty state matters contending for his attention at that initial stage of his tenure, Governor Fashola's early inspection tour of the free zone only goes to underscore the high strategic importance of the global investors' haven to the lagos state and federal Governments as a foresighted, development - policy master stroke.it is a massive, potential economic boost to the country and its international friends and venture partners.

Governor Fashola was fully briefed on the free zone and acquainted with a model of the phase I Development plan. in his remarks, Mr. fashola
charged the management and workforce of the LFTZ to ensure that all construction works and facilities met world – class standards.
Among the top officials who received and updated the governor on all aspects of the zone were: Mrs. Olusola Oworu, special adviser to the governor on commerce and industry; Mr. Xiaoxing, chairman, LFZDC (Lekki Free Zone development Company); Mr. segun Jawado, chairman LWIL (lekki Worldwide Investments ltd); Mr. Qiang, managing Director LFZDC, MR. A deyemo Thompson, Deputy managing director, LFZDC; Mr. T. A. B. Disu, managing director, LWIL, Alhaji (chief) T. A. Jegede, chairman, resettlement committee and reprsentatives of the local committies.
Re: Lekki Free Trade Zone Lagos Latest News by babapupa: 5:32am On Jan 07, 2010
This is very heart warming, Thanks Paddy_lo.

Eko o ni baje o,
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 5:38am On Jan 07, 2010
NNPC, Lekki refinery consortium strike accord
15 December, 2009

Prospective investors in the proposed Lagos greenfield refinery have secured the support of the Nigerian National Petroleum Corporation in the project which is expected to stream by 2017.
The investors include Mittal Investments, U. K.; ONGC Narmada Ltd of India; Tiajin Energy Resources Ltd of China; Total Nigeria Plc; Nigeria Agip Oil Company (NAOC); Golden Fertilizers Company (owned by Flour Mills Nigeria Plc); Sahara Energy Resources Ltd; Starex Petroleum Refinery Ltd; and Amazon Energy.

The consortium is perceived as the compliance arms of the oil producing companies that are now under renewed pressure to invest in local refining, and indigenous marketing firms seeking to take a first mover advantage in the expected offtake.
Some of the foreign investors had committed to downstream investments as the main condition for award of oil blocks inn the nation’s deepwater sedimentary basins.
At a meeting of the members of the consortium with Nigerian National Petroleum Corporation (NNPC), they secured the corporation’s support for the establishment of the proposed greenfield refinery in Lekki, Lagos.

The Group Managing Director of NNPC, Dr Mohammed Sanusi Barkindo, hailed the proposed refinery as the first to be built in the country in over 20 years and the first to be integrated with an Industrial Hydrocarbon Park.
He declared that “NNPC will support the Lekki Free Zone by assisting with the arrangements for the supply of natural gas feedstock to the zone, for the manufacture of petrochemicals, fertilizers and other much desired industrial products”.
He said the refinery project falls in line with the planned deregulation of the downstream sector of the Nigerian petroleum industry, adding that there was no better time for the investment in a refinery.
He commended the Lagos State government for its initiative in establishing an Oil and Gas Area within the Lekki Free Zone which will provide infrastructural facilities such as power, water, roads and an oil jetty, for the proposed refinery.

The infrastructural support for the refinery, Dr. Barkindo noted, would save huge cost and boost the viability of enterprises at the site.
The Permanent Secretary of the Lagos State Ministry of Commerce, Mr Wale Raji, who represented the Lagos State government, said the state was interested and prepared to work with investors who are keen on providing solutions to the problem of petroleum product supply in the state in particular and in the country in general.
He explained that the state’s commitment to the development of the Lekki Free Zone was in line with the administration’s plan to transform Lagos into an industrial hub befitting of its mega-city status.

The General Manager Projects of ONGC Mittal Energy Ltd, OMEL, who led his Company’s team to the meeting explained that though the feasibility studies for the project had been done and a steering committee inaugurated since November 2008, his organization and some of the other investors needed some “commitment from the state to be able to continue with the investment”, adding that he was happy with support offered by the NNPC.
Both Oando and AP Plc who investors in the refinery project explained that their foray into refining was informed by the need to bridge the supply gap in the local petroleum product market that is likely to result from the 7 per cent GDP growth that Nigeria is projected to enjoy.

The Chief Executive Officer of Oando Refinery and Terminals, Ayo Ajose-Adeogun, who represented his company at the meeting, said the Lekki Refinery project has the advantage of proximity to source of crude oil and the market.
Other prospective investors in the Lekki Refinery project that were represented at the meeting include Mittal Investments, U. K., ONGC Narmada Ltd of India, Tiajin Energy Resources Ltd of China, Total Nigeria Plc, Nigeria Agip Oil Company (NAOC), Golden Fertilizers Company (owned by Flour Mills Nigeria Plc), Sahara Energy Resources Ltd, Starex Petroleum Refinery Ltd and Amazon Energy.

ONGC had earlier indicated interest to set up a refinery in Nigeria.
The Indian firm said that it was looking to broaden its activities and the setting up of a Greenfield refinery has been discussed, Indian Petroleum Minister Murli Deora said at an industry event.

Deora did not offer details but it is believed he was speaking of the proposal to build a refinery with a 180,000 bpd capaciyy in conjunction with Mittal in return for oil blocks.
ONGC-Mittal Energy Ltd (OMEL), the joint venture of OVL and Mittal Investment Sarl, landed two Nigerian blocks OPL 285 and OPL 279 in Nigeria’s 2006 International Licensing Round in return for downstream commitments either in power, rail, or refining.
The company is also looking at participating in exploration programs across Africa. “Our companies are also interested in farm-in opportunities in producing blocks especially in Libya, Algeria and Egypt,” he said.
Deora said India and Africa enjoy strong potential to work together for strengthening energy security. “Several African countries are endowed with rich hydrocarbon resources. India is a willing partner of Africa ready to contribute technology, skills and investment to harness these resources in cost-effective manner for our common benefit.”
ONGC is also interested in participating in Nigeria’s LNG scene. “We are a stable, long-term and growing market for Africa’s natural gas. Our companies are interested in sourcing LNG as well as equity participation in existing and upcoming LNG terminals in Africa,” Deora said.

http://www.champion.com.ng/index.php?news=24006
Re: Lekki Free Trade Zone Lagos Latest News by SEFAGO(m): 5:40am On Jan 07, 2010
Prospective investors in the proposed Lagos greenfield refinery have secured the support of the Nigerian National Petroleum Corporation in the project which is expected to stream by 2017.
The investors include Mittal Investments, U. K.; ONGC Narmada Ltd of India; Tiajin Energy Resources Ltd of China; Total Nigeria Plc; Nigeria Agip Oil Company (NAOC); Golden Fertilizers Company (owned by Flour Mills Nigeria Plc); Sahara Energy Resources Ltd; Starex Petroleum Refinery Ltd; and Amazon Energy.

Man Lakshmi Mittal don land Nigeria undecided, Africa sef cry
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 5:41am On Jan 07, 2010
This is very heart warming, Thanks Paddy_lo.

Eko o ni baje o

no problem. . .a lot of people here love to wallow in negativity and self pity
meanwhile the world moves on,time waits for no-one. . .

i refuse to be a part of that. . for nigeria to succeed,lagos must succeed. . .and its on the right path
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 5:43am On Jan 07, 2010
Man Lakshmi Mittal don land Nigeria , Africa sef

i presume u dont know mittal steel owns steel plants in the U.S also. . .
so what if they are in nigeria?
Re: Lekki Free Trade Zone Lagos Latest News by SEFAGO(m): 5:45am On Jan 07, 2010
Yeah I know they are in the US, but I am sad no Nigerian company is actually a real mulltinational
Re: Lekki Free Trade Zone Lagos Latest News by yeswecan(m): 5:45am On Jan 07, 2010
Fashola is doing really good  .  .  .  am really impressed with his works.
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 6:00am On Jan 07, 2010
Yeah I know they are in the US, but I am sad no Nigerian company is actually a real mulltinational

but we have to start somewhere. . .our banks are penetrating mrkts accross east,central and west africa

dangote is trying to build cement factories accross africa

while oando is operational in ghanas oil industry for now

glo and main-one are going pan african

and arik air is the west-african carrier of choice

again our ppl have to de-emphasize govt,and put faith in the private sector to pull us into a truly global economy
thats the only way it can be done. . .and we are getting there slowly
Re: Lekki Free Trade Zone Lagos Latest News by babapupa: 6:10am On Jan 07, 2010
paddy_lo:

no problem. . .a lot of people here love to wallow in negativity and self pity
meanwhile the world moves on,time waits for no-one. . .

i refuse to be a part of that. . for nigeria to succeed,lagos must succeed. . .and its on the right path


We just can not afford to stoop down to their level. What's going on in Lagos is not only good for Lagosians, it's great for all Nigerians. There should be so many beacons of hope in Nigeria, so far, Lagos is the only sane, progressive, point of reference and shining entity in Nigeria.

Some folks love to talk about how their people own Lagos, how Lagos belongs to the whole country, how Lagos is nothing without them while at the same time double down on every opportunity to trash and badmouth the state. Just too many sociopaths in our mist.



Let me share this real quick,

Lagos House Open Ground for this year’s Annual Thanksgiving Service.



















Re: Lekki Free Trade Zone Lagos Latest News by AloyEmeka9: 6:26am On Jan 07, 2010


Fashola and Tinubu are supposed to be muslims. What are they doing around most high Adeboye?. Make holy Ghost fire no burn themoo.
Re: Lekki Free Trade Zone Lagos Latest News by adconline(m): 6:46am On Jan 07, 2010
100% tax free imports of raw materials and components for goods destined for re-export(this is big)
I thought only the FG had the power to legistlate on this?
Re: Lekki Free Trade Zone Lagos Latest News by babapupa: 6:53am On Jan 07, 2010
Aloy.Emeka:



Fashola and Tinubu are supposed to be muslims. What are they doing around most high Adeboye?. Make holy Ghost fire no burn themoo.



I really don't think they're religious bigots like you. Fashola's wife is a practicing Catholic.

I think you have a thing or 2 to learn from the Governor.

Lagos State Governor, Mr. Babatunde Fashola (SAN) said, in spite of our religious and ethnic diversities, what binds us together is our common humanity.

Besides, it's a Lagos thing and all past governors/state officials regardless of their religious affiliations attends the yearly event.

Also present at the grand occasion were Former Governors of the State including Brig. Gen. Mobolaji Johnson, Alhaji Lateef Jakande, Admiral Mike Okhai Akhigbe and the immediate past Governor Asiwaju Bola Ahmed Tinubu. Others were the Speaker of the State House of Assembly, Rt. Hon. Adeyemi Ikuforiji, members of the State Executive Council including Commissioner for Transportation, Professor Bamidele Badejo and Commissioner for Economic Planning and Budget, Mr. Ben Akabueze, traditional ruler including the Akran of Badagry among many dignitaries, top Government functionaries, religious and traditional rulers.
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 2:29pm On Jan 07, 2010
I thought only the FG had the power to legistlate on this?
watch the video and see that the federal govt gave the concessions. . .

@babapupa
thats what i like about lagos
its a home for all,no religious or ethnic bigotry
Re: Lekki Free Trade Zone Lagos Latest News by adconline(m): 5:40pm On Jan 07, 2010
watch the video and see that the federal govt gave the concessions.

Remember TINAPA KATATA with customs and EPZ wahala?
Re: Lekki Free Trade Zone Lagos Latest News by sjeezy8: 5:54pm On Jan 07, 2010
good stuvs I wanna buy some land in ikorodu because after they build 4th mainland bridge, im sure properties prices will increase.
Re: Lekki Free Trade Zone Lagos Latest News by violent(m): 6:08pm On Jan 07, 2010
Lagos is lucky to have this dude, the state might have been 15 times worse off with Obanikoro,

Fashola is worth more than all the bigots in the house of rep and Federal executive council put together


Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .Fashola for president!. . . .
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 10:31pm On Jan 07, 2010
^^
love your enthusiasm. . .only hope its infectious
Re: Lekki Free Trade Zone Lagos Latest News by SeanO2: 10:52am On Jan 25, 2010
LFTZ is a brillant idea , But is it realistic? Given our history, it is wise to be skeptical. Even the website is outdated and unhelpful.

Paddy - you seem to be know whats going on , What stage of development are they right now? What is the timeline for completion? These basic information are not available at the website. Please let me know if you have any idea.

Cheers
Re: Lekki Free Trade Zone Lagos Latest News by paddylo1(m): 2:17pm On Jan 25, 2010
LFTZ is a brillant idea , But is it realistic? Given our history, it is wise to be skeptical. Even the website is outdated and unhelpful.

Paddy - you seem to be know whats going on , What stage of development are they right now? What is the timeline for completion? These basic information are not available at the website. Please let me know if you have any idea.

Cheers

the project is moving on as scheduled. ,
u cannot compare the ineptitude of the military
to the sane governance of the lagos state government
so the issue of it not being completed does not arise. .
Re: Lekki Free Trade Zone Lagos Latest News by KunleOshob(m): 3:08pm On Jan 25, 2010
Aloy.Emeka:



Fashola and Tinubu are supposed to be muslims. What are they doing around most high Adeboye?. Make holy Ghost fire no burn themoo.

Imagine qualifying an ordinary man with the same terminology with which God is described Are you sure it is God you worship at all or men parading themselves as gods of men.
Re: Lekki Free Trade Zone Lagos Latest News by Sammy107d(m): 5:19pm On Jan 25, 2010
KunleOshob:

Imagine qualifying an ordinary man with the same terminology with which God is described Are you sure it is God you worship at all or men parading themselves as gods of men.

angry Erm d guy was just being hyperbolic. I don't suppose Adeboye is a nairalander. . .
Re: Lekki Free Trade Zone Lagos Latest News by trueword: 6:08am On Jan 26, 2010
Lekki Free Trade Zone and challenge of infrastructure
Monday, 04 January 2010 01:03 AUSTIN IMHONLELE

[b]Business activities at the ongoing Lekki Free Trade Zone project in Lagos are expected to begin by March 2010 with about 70 companies having already indicated interest in investing at the location. AUSTIN IMHONLELE writes that even the project managers agree that infrastructure remains a big challenge
Lekki Free Trade Development Company, managers of the project have identified non- availability of infrastructure as major hindrance to the commencement of business activities at the zone. [/b]The project according to the managers

The Lekki Free Trade Zone project is expected to provide a variety of opportunities for investors interested in various sectors of the Nigerian economy such as agri-processing, clothing and textiles, food and beverages, forestry, mining, pharmaceuticals, retail, housing and tourism. As part of its transformative agenda and desire to harness the investment and business potential of the state, the Lagos State Government pledged to provide infrastructure to fast track the establishment of the project by making provision for over $67m for the development of the project. Even then, the managers of the project believe that the non- availability of infrastructure is a major hindrance to the commencement of business activities at the zone.

[b] "Although the project is currently not ready for use as a result of inadequate infrastructure, there are indications that about two to three industries from China may begin operations by March 2010 as we continue to build more infrastructure," says Adeyemo Thompson, deputy managing director of the company. Business Day's visit to the trade zone revealed that, there is need to fast track the rate of infrastructural development to enable investors build factories as the project is planed to take about 10 to 15 years to complete. Thompson told Business Day that the first phase of the projects is expected to cost about $1.5billion while the other phase of the project will gulp over $5billion. According to him, over 50 manufacturing companies have already indicated interest to build their factories at the site while about 30 oil, gas and logistics companies are prepared to establish industries. Business Day also gathered that Oando Nigeria plc has set out plans to build a refinery at the zone.[/b]

The company is trying to develop a 360,000-barrel per day capacity Greenfield refinery in Lekki, Lagos State. Ayo Ajose-Adeogun, chief operating officer of Oando Marketing Limited, a subsidiary of Oando Group, while speaking to journalists recently noted that refinery was an enormous engagement as Oando has so far carried out a feasibility studies on the lekki trade zone at the beginning of this year. "We believe that a refinery that targets approximately half of the deficit for 2017 will be viable against local production and against substitute input. Such a refinery will benefit from the closest sources of crude oil. We are going to put in place a complex refinery which will take advantage of the light crude we see in the area and maximise PMS production." He further explained that the company is targeting 360,000 barrels per day as the first phase will do 340,000 barrels which will give an approximate of 15,000 tons per day of PMS. The project will take us between five to seven years in development.

At the moment, we have secured the approval of allocation of 450 hectares of land from the Lagos State Government in the Lekki Free Trade Zone, Phase 2. First, what we are going to do is to build an import terminal which we are hoping to conclude once we finish the price negotiation with the state government and we award the FEED immediately. The FEED will take us about four to five months and may be in the last quarter of 2010, we should be able to begin construction of that terminal. That terminal will be about 210,000 tons of storage and will ultimately become the finished goods storage of the refinery. That is the size of storage you will need for a 240,000 barrels per day refinery. Recently Lagos State government sought the understanding and cooperation of the people of Lekki and Epe area with the State Government in its efforts to ensure the completion of work on the Lekki Free Trade Zone.

The government said it has paid a total of N785m as compensation to land owners in the area, who had to forfeit their land for the development. Special Adviser on Commerce and Industry, Sola Oworu has assured that the State Government is committed to the implementation of the Memorandum of Understanding which it signed with She said that State Government is working with a Chinese Consortium for the development of the first phase of the Free Trade Zone which is 3000 hectares, adding that the Chinese are expected to bring in capital to develop the infrastructure in free trade zone. Said Oworu: "The State Government alone cannot fund all the infrastructure development required in the free Trade Zone, so we are partnering with the Chinese Consortium who will bring in capital to develop infrastructure such as network of roads, power, sewage, water treatment plant so that they can attract the right type of investors in the zone. When you see the Chinese investors on ground, it means they are there as investors". Oworu informed that Environmental Impact Assessment has been done for the Lekki Free trade Zone, adding that the expanse of land under the Free Trade Zone would revert to the State Government after the Chinese investors must have recouped their investments.

Ganiyu Adegbesan, the Onise of Ise, said he is satisfied with what the State Government is doing in their affected communities, but implored the authorities to ensure that it fulfils all the promises made to them. He added that the State should also ensure that it pays compensation to appropriate family heads and not to impostors, urging the State to parley with the aggrieved people. Secretary of the resettlement committee, Hamidu Musiliu pledged that the people should be carried along in the process. He said that they would benefit in many ways including awarding contracts to some of the local contractors, stressing that presently the local contractors feel no sense of belonging. The ultimate goal of this project is to create a new model city and a mega industrial, commercial, financial, tourism and recreational hub - a cutting edge centre for international business collaborations. But as construction gets underway on the first phase of the project, the affected people in various Lekki communities are waiting to see how the effort would impact their lives.


http://www.businessdayonline.com/index.php?option=com_content&view=article&id=7228:lekki-free-trade-zone-and-challenge-of-infrastructure&catid=94:features&Itemid=353
Re: Lekki Free Trade Zone Lagos Latest News by vikmartynes: 9:02pm On Jul 19, 2013
Invest in serviced plots at Victory Estate, Ibeju Lekki.

2KM drive from La Campaigne Tropicana Resort and Beach.
Within the FTZ area of Lekki with Neighbours like the International Airport, Lekki Seaport, Golf courses and several industrial Estates.

Invest in the future!

Title documents include Govt. Excision certificate, deed of agreement, survey plan from Lagos state govt. The global C of O is in process.

Outright sales is N1.6M and monthly instalmental payment of 50k applicable.

Fast appreciation rate. Call 08027869439 or 08111953811 for site inspection and enquiries.
Re: Lekki Free Trade Zone Lagos Latest News by awhagwan: 11:37pm On Jul 19, 2013
vikmartynes: Invest in serviced plots at Victory Estate, Ibeju Lekki.

2KM drive from La Campaigne Tropicana Resort and Beach.
Within the FTZ area of Lekki with Neighbours like the International Airport, Lekki Seaport, Golf courses and several industrial Estates.

Invest in the future!

Title documents include Govt. Excision certificate, deed of agreement, survey plan from Lagos state govt. The global C of O is in process.

Outright sales is N1.6M and monthly instalmental payment of 50k applicable.

Fast appreciation rate. Call 08027869439 or 08111953811 for site inspection and enquiries.

This is a scam.

What is an "Excision certificate"? Post a copy of this "Excision certificate" here, if indeed it exists, so we can check it out ourselves at the Ministry of Lands.

If it has an excision, why is a "global C of O" in process?

Any nairalander that so much as calls those lines is begging to be scammed. You have been warned. To be forewarned is to be forearmed.

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