The Lagos State Government on Monday said that the net value of infrastructure at the Lekki Free Zone (LFZ) stood at four billion dollars.
The state Commissioner for Commerce, Industry and Cooperatives; Mr Rotimi Ogunleye, disclosed this in Alausa at the ministerial briefing to commemorate Gov. Akinwunmi Ambode’s second year in office.
Ogunleye said that 116 investors had so far registered with the LFZ out of which 16 had commenced full operations.
He said that the state government, had in the last two years, released N698.47 million as part of the state’s equity contribution to the joint venture.
“This is part of the effort to ensure speedy development of the zone and honour the state’s obligation on counterpart funding of the project,” he said.
Ogunleye said that the state had also disbursed N740.46 million as compensation to communities affected by the LFZ project.
The commissioner said that the LFZ remained a landmark industrial project for the state government.
According to Ogunleye, plans are underway to deliver a new industrial policy for enhanced industrial landscape in the state.
He said that the ministry was in partnership with UNIDO to prepare the all-encompassing industrial policy to replace the obsolete policy of 1985.
According to Ogunleye, the ministry has entered into a technical cooperation agreement with UNIDO through its Investment Technology Promotion Office (ITPO) toward establishing a fashion and shoe hub at Gberigbe Enterprise Zone in Lekki.
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