Lagos Free Trade Zone exports $30m goods - THE NATION

JUNE 02, 2020

Muyiwa Lucas

The Lagos State Free Trade Zone has exported goods worth $30million.

Also, it has attracted investments worth $250million to its new industrial cum residential development aimed at boosting economic activities and jobs.

The Commissioner for Commerce, Industry and Cooperatives, Dr Lola Akande made this known at the ministerial press briefing to commemorate Governor Babajide Sanwo-Olu administration.

Already, 24 firms with capacity to employ about 2,050 employees in the first phase of their operations, are  berthed in the industrial cum residential development zone, in Alaro City, Epe Division of the state.

Akande said the project is a public-private partnership, mixed industrial-residential development where the  government owns 40 per cent as land equity while Messrs Rendeavour, an estate developer owns 60 per cent.

Akande said the investment in the Lekki Free Trade Zone Development Company is yielding result as $30 million goods were exported in the last 12 months while 19 new firms are at various stages of deployment.

According to her, the state government through the Ministry of Commerce, Industry and Cooperatives remains committed to the establishment of the Fashion Hub and Academy on a 10-hectare land Enterprise Zone at Gberigbe in Ikorodu.

She added that it would be a well-equipped centre where everything that has to do with fashion would be made available and the academy would be responsible for training the youth in fashion with world-class standard.

Akande said the engagement was in top gear with consultants and relevant ministries towards the development of the concept design preparatory for the development of the super structures.

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