Fashola Inaugurates Multi-billion Naira Lekki Free Trade Zone


By Gboyega Akinsanmi, 08.20.2010

Residents of Lekki area of Lagos yesterday protested the collection of toll levy by the Lekki Concession Company (LCC) along the Lekki Expressway as Governor Babatunde Raji Fashola (SAN) commissioned the administrative complex at the Lekki Free Trade Zone (LFTZ)

The protesters carried placards with the inscription, “No toll gates, no fencing”, blocked the expressway and in the process engendered heavy traffic build-up on both sides of the road as they walked from the Ajah end of the road towards the toll gates.

But in his address, Fashola appealed for calm and patience, saying he was in the process of working out an arrangement that would be conducive for residents of the area.

He spoke at the official commissioning of the LFTZ complex LFTZ) directed the aggrieved people to explore the possibility of an amicable settlement with the committee already put in place to iron out their differences and called for cooperation of the people in the quest to make the 49.5 km expressway funded by concession better.

According to him, if we want infrastructure development here we must encourage construction of the road. it is now a global phenomenon for countries to use toll gate as a means of raising revenue to facilitate infrastructural development following the onset of recession.

Fashola explained that the toll road under construction is very important to prosperity of the region, particularly the LFTZ, stating that “We cannot wish to have what they have and ignore what they do”.

Fashola thanked stakeholders whose 16,500 hectares of land was acquired for the LFTZ for their cooperation in Phase A and B, noting that N700 million has been paid out to those affected in Phase A.  According to him, Certificates of Occupancy (CofO) for 750 hectares of land will soon be issued to those affected to resettle them.

Fashola said over 70 local companies have signed Memorandum of Understanding (MoU) to begin operation in the zone, while 53 others registered. He said 12 firms have executed terms in their agreement adding that at least 800 Nigerians and Chinese nationals are currently employed in ongoing construction of the LFTZ.

He said there “is provision for refinery, a seaport and an airport, a school and a maternity centre in the zone adding that government is offering among others, 100 percent foreign ownership of investments, repatriation of capital, profit and dividends, 100 percent free imports of raw materials and components for goods destined for re-exports, 100 percent waivers on all import and export licenses, 100 percent restriction-free to hire foreign employees, 100 percent waiver on all expatriate quotas for companies operating in the zone as  incentives to willing investors.”

In her welcome address, the Special Adviser on Commerce and Industry, Mrs. Olusola Oworu, said the concept of the Zone was envisioned to create an Industrial Park for manufacturing, oil and gas, real estate and leisure within the area for the singular purpose of improving the lot of Lagosians by creating employment, increasing and improving commercial activities in Lagos.

Mrs. Oworu paid glowing tribute to Asiwaju Bola Ahmed Tinubu and Governor Fashola “Two Great Lagosians” whose shared vision has manifested in the reality of the Lekki Free Trade Zone adding, “I thank your Excellencies for being audacious in the pursuit of this noble dream and in particular, Governor Fashola for his ever listening ear and direction”.

The Administrative Complex, the Special Adviser said “has been fashioned to house the Nigerian Customs Service, the Nigerian Immigration Service and the Nigerian Police being the essential service providers within any free trade zone”, adding that necessary information and communication technology equipment have also been provided to enable the officers of these services carry out their functions seamlessly and effectively in a manner befitting the 21st century.

According to her, “The Lagos State Government is making efforts in several directions to create the enabling environment to attract Foreign Direct Investment into Lagos. These include the construction and rehabilitation of roads, rail and water transportation to improve traffic flow, judicial reforms, improvement in security among others

Also present at the well attended event were members of the State Executive Council, the Consul General of the Chinese Embassy in Nigeria, Mr. Jan Chenchi, traditional rulers, members of the diplomatic community and other notable dignitaries.

He said there “is provision for refinery, a seaport and an airport, a school and a maternity centre in the zone adding that government is offering among others, 100 percent foreign ownership of investments, repatriation of capital, profit and dividends, 100 percent free imports of raw materials and components for goods destined for re-exports, 100 percent waivers on all import and export licenses, 100 percent restriction-free to hire foreign employees, 100 percent waiver on all expatriate quotas for companies operating in the zone as  incentives to willing investors.”

4-ka-si-be

Eko o ni baje!

Fashola and white dinosaur project . Extinct b4 inauguration

idupaul:

Fashola and white dinosaur project . Extinct b4 inauguration

enemy of progress, so his other projects have always fail like you.
did you pass waec or bought it cos your sentence stinks

Sean God bless ur rude mouth . Am sure i am doing a million times (in chrono and gold)better than ur miserable failed self . U r just foolish sycophant who will soon get extinct like fasholas white dinos . GBEFU