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Ambode gives out N740m for host communities’, N698m for facilities at LFTZ

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As part of new drive for more investors at the emerging Lekki Free Zone Development Company (LFZDC), Lagos State Government has released about N740.461 million had been given as compensation to host communities comprising Yegunda and Abomiti as well as Lekki-Epe International Airport Zone.

This coming as the Commissioner for Commerce, Industry and Co-operatives, Prince Rotimi Ogunleye, disclosed in an interview that government has doled out a total of N698.47million so far released for infrastructural development in the Lekki Free Zone Development Company (LFZDC).

Explaining issues before the members of the Diplomatic Community at LFZDC recently, he said the Lekki investment hub is not only meant for Chinese companies but other investors across the globe are welcome to invest. .

He said “The state government is committed to promoting sustainable commercial and industrial growth,” stressing further that the “funds released to the zone is to ensure speedy development and honour the state’s obligation on counterpart funding of the project.”

Earlier in his presentation of progress report, the Managing Director, LFZDC Ding Yonghua, said Phase one of the Zone will create 30,000 employment opportunities, with a population of about 120,000 people residing in the premises.

He noted that the good infrastructure, adequate security, water treatment plant, sewage plant, and 24 hour power supply are all available in order to enhance the ease of doing business in the Zone.

He therefore supported the government in calling for more investors, saying there are enough space to go round and infrastructure abound.


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