Lekki seaport and international airport on course -Fashola

by Sesan Olufowobi

Lagos State Governor Babatunde Fashola says the construction of Lekki Seaport has begun while the design for the international airport is ready.

The governor said this on Thursday during the second Lagos Corporate Assembly, tagged, 'BRF Meets Business', held at Lekki Free Trade Zone complex.

Fashola, however, said paucity of fund was a major challenge to the speedy development of the seaport and the international airport, adding that availability of funds would determine when the project would be completed.

He said, "I cannot tell you the date the seaport will be finished but work has started at the port and the contractors are on site.

"There are still a few issues in terms of getting funding and commitment from the private sector because clearly both the management and the private sector own the zone. They are not government-owned but government has an enabling role to play in the regulation of the zone."

He said the state government was sourcing private funds to develop the international airport.

He noted that the airport would be of international standard, according to an approve plan.

He said the state was strategically positioned to utilise and benefit from the development of the airport.

The governor assured businesses and corporate entities that government remained truly committed to providing infrastructure needed to make the free trade zone functional as soon as possible.

He said the zone would drive not just the state economy, but the national economy.

Fashola also faulted the plan by the Federal Government to sell the National Theatre, stating that it was like wiping the country's national history.

He also said the transport plan for the trade zone was basically water-driven.

Fashola said, "The zone is a peninsula. That is why we are considering the need to transport our goods on the water. This is peninsula that sits so strategically that it has access to its own means of transport which is water.

"That was why we have decided to fast-track the plan of accessing the zone and evacuation of cargo by using the lagoon.

"This lagoon goes as far as Ondo State. Most logs come into the state through water. I do not know any country where industrial cargo is transported by road."

He said such a development was not sustainable, stressing that the roads would not last.

Fashola said the waterways would be the government's immediate and short-term focus.

"And before the end of the year, we would ensure the possibility of water transport in the zone," he said.

Lekki port to earn N31.15trn
News Friday, April 5, 2013

By FRANKLIN ALLI & NKIRUKA NNOROM

Managing Director, Lekki Port LFTZ Enterprise, Mr. Haresh Aswani, yesterday, said the Lekki port project is expected to contribute not less than N31.15 trillion ($20 billion) to the nation's economy.

Aswani gave the assurance during the visit of Governor Babatunde Fashola of Lagos State to the site to assess the level of work done so far.

The port, sitting on 90 hectares of land, is to become operational in third quarter of 2016, and it has Lagos State Government and Nigerian Ports Authority, NPA, as shareholders in the project.

Fielding questions on the economic benefits of the port to the state and the country, Aswani said: "In addition to bridging the capacity deficit, Lekki Port will have significant positive macroeconomic impact estimated at USD 361 billion over the entire concession period.

"It is expected to contribute more than USD200 billion to the government purse, while also creating close to 163,000 new jobs in the economy.

"Furthermore, Lekki Port will spur the economic development around the Lekki sub-region and on a wider perspective, the whole of Lagos State through rapid industrialisation."

Aswani explained that the Lekki Port, conceptualised as a multi-product industrial and logistics hub, would spread across 90 hectre of land and would be built at an estimated cost of $1.55 billion.

He further said the deep-sea port, which would be located 65 km east of Lagos Mainland would become the gateway to West African region and would be one of the most efficient and modern maritime facilities that would cater to liquid and dry bulk cargo par international standards.

taharqa: GOOD. The FG, Lagos State Govt and the Private Investors concernd, shld mk dis a possibility as quickly as possible... The Badagry and Lekki Axes can be turnd into Real avenues for BIG time Business and Commerce in Lagos, Nigeria and d West/Central African region

Gbawe.:



Indeed. I would even urge Nairalanders to invest in residential plots in Badagry. Anyone who has spare cash should even in several plots because the returns on investments in the next ten years will be immense as Badagry, for many reasons, is set to be another Lekki.

berem: cool! Mine has been purchased already.Badagry axis where I reside is a very good place to live and invest.

nues aweso: @ Sincere,

Ur sarcasm is really unnecessary. If you have any issues, please spell it out so we can thrash it in details.

Gbawe.:


Well done. Get more if you can. One of my mum's biggest regret was not buying land in Abuja as one of the first civil servants to be drafted there. She could have purchased choice land for pittance back then. Same land , well under a million back then, would probably be worth at least N40 - 60 million today.

Katsumoto: You mean State Governments can develop airports, seaports, etc. on their own without waiting for the federal government?

taharqa: NO, i dont think they cant. This Project Shareholding is 20% FG, 20% Lagos State and 60% Private Investors, to be surpervisd by d NPA... This is a Good case of Colla bw diff Levels of Govt and even d Private sector

wesley80: ^ What happens first? Eko Ole finally developing functional brain cells or chickens growing teeth? My money is on the latter!
After Lagos State builds its own 100% owned airport and sea port I guess it's also going to establish its Ports Authority, Customs and LAAN - not to be mistaken with FAAN - abi? Answer o, Oba Ewure Olodomare the II of Nairaland.

wesley80: ^Oba o, mó ki yi oooooo......

berem: cool! Mine has been purchased already.Badagry axis where I reside is a very good place to live and invest.

ochukoccna: VISION IN ACTION is what strikes one's mind by the article above
Well done Gov Fas the ca$h
Remember the havenots too as you plot the regeneration of Lagos
EKO O NI BAJE LAI LAI

taharqa: NO, i dont think they cant. This Project Shareholding is 20% FG, 20% Lagos State and 60% Private Investors, to be surpervisd by d NPA... This is a Good case of Colla bw diff Levels of Govt and even d Private sector