Investments In Lekki Trade Zone Hits $4bn

The Lagos State Commissioner for Commerce, Industry and Cooperatives, Rotimi Ogunleye, says fresh investments in the Lekki Free Trade Zone are now over $4bn.

The commissioner added that the investments were not part of projects such as refinery and fertiliser plants being constructed by the Africa richest man, Aliko Dangote, estimated at $11bn.

Ogunleye, who spoke at a briefing of his ministry on Monday, said about $15bn investments (N4.6tn) were in place in the free trade zone, adding that 116 investors had registered with LFZ out of which 16 had commenced full operations.

He said the government was keen about ensuring that the free trade zone worked because it held the key to the country’s quest to diversify its economy.

The commissioner listed other efforts by his ministry to ensure that commerce and economic activities in the state were vibrant, saying implementation of the harmonised inspection of industries and support for entrepreneurs were in the offing.