LEKKI DEEP SEAPORT BEGINS OPERATIONS IN 2023, INVESTOR ASSURES LAGOS GOVT - AfrobadooTV
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LEKKI DEEP SEAPORT BEGINS OPERATIONS IN 2023, INVESTOR ASSURES LAGOS GOVT

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•Sanwo-Olu, Cabinet Members on Two-Day Working Tour of Lagos Free Trade Zones

Commercial operations at the Lekki Deep Seaport in Lagos Free Zone (LFZ) will begin in the first quarter of 2023, Governor Babajide Sanwo-Olu, on Friday, got the assurance from Tolaram Group – the frontline investor handling the project.

The Governor and members of the State’s cabinet are currently on a two-day working tour of the three free trade zones established in Ibeju Lekki area of Lagos.

The port, which is being constructed by China Habour Engineering firm, is occupying 90 hectares in the entire 830 hectares of land carved out for the Lagos Free Zone, created in 2012 to enhance economic position of Lagos as manufacturing and logistics hub in West Africa.

The first phase of the seaport project, which is being financed by $629 million facility from China Development Bank (CDB), is at 48 per cent completion.

After going through the project master plan, Sanwo-Olu said his administration remained committed to delivering project, stressing that the deep seaport and other investments happening in the corridor had the potential to increase the State’s GDP in multiple folds.

He said: “Given the report I got and what I have seen here, I can say that Lagos Free Zone has made tremendous improvement. We have seen the level of partnership Tolaram Group is bringing in terms of international investment and local brands on this corridor.

“I commend all stakeholders that are with us on this journey we have found ourselves. With the level of work we have seen, I’m truly excited. It is more gratifying that, we are taking up this assignment with all energies required and we all can see what we can achieve when we work together.

“Since we signed a loan agreement less than 18 months ago, we have demonstrated strong capability in bringing the project to reality. This is the first quarter of 2021 and we have seen the project in about 48 per cent completion. The investors have given us the commitment on first quarter of 2023 completion date. We will fulfill all our parts to make sure this date becomes reality.”

Sanwo-Olu, who noted that he had been part of the conversation for the development of the free zones as a Commissioner for Commerce and Industry in 2006, said his administration had recorded significant progress in bringing the projects to reality.

The Governor said the priority accorded to the construction of complementary infrastructure projects along the corridor was a demonstration of his Government’s fulfillment of its pledge to Lagos residents. He promised the State would work with the timeline to ensure all projects mapped out in the zones are deliver.

Sanwo-Olu said the size of the deep seaport will allow 18,000 TEU capacity vessels, which are four times bigger than the ones berthing at Apapa seaports, thereby scaling down the cost of container transportation from any part of the world.

He said: “The interesting part is that, our youths and young women will be the beneficiaries of this project. The project managers have engaged large number of our citizens in the construction parts of the work; all personnel are not expatriates. All the technical work and technology deployed have local component to it.

“For us a Government, this is the strongest point we have made with the project. I am fully convinced that the delivery of this project will transform commercial architecture of West Africa and bring about quick turnaround time in maritime sector.”

When it is completed, the deep seaport is expected to generate more than 170,000 direct and indirect job opportunities for Lagos residents, and serve as alternative in an effort to decongest the Federal Government-owned seaports in Apapa.

Chief Executive Officer of Lagos Free Zone, Mr. Dinesh Rathi, said Tolaram Group, a Singaporean coy, initiated a $2 billion investment in the Lagos Free Zone, out of which the investor committed $950 million to developing manufacturing hub in the zone.

When the deep seaport is completed, Rathi said the maritime project was expected to generate more than 170,000 direct and indirect job opportunities for Lagos residents, and would serve as alternative in an effort to decongest the Federal Government-owned seaports in Apapa.

Chairman of Lagos Free Zone Development Company, Mr. Biodun Dabiri, hailed the State Government for its commitment towards changing face of commerce in Africa, stressing that all statutory permits, licences and endorsement for the Lekki port project were already secured.

“There is strong guarantee that the port will be delivered before time, going by the inflow of capital investment and technical services,” Dabiri said.

The Governor and his entourage also visited Africa’s second largest manufacturing plant of Kellogg Tolaram, manufacturer of cornflakes, which is built in Lagos Free Zone. The Governor toured the processing unit of the firm and inspected the production chain.

Also joining the Government’s team in the tour are the Chief Executive Officer of Lekki Freeport LFZ, Mr Du Ruogang, and Head of Marketing for LFZ, Ms. Chinju Udora, among others.

#ForAGreaterLagos

?: Ademola Olaniran ?

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Politics

2022: International Youth day:APC National Women Leader felicitates with Youths across the globe

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The National Women Leader of the All Progressives Congress (APC) Dr Betta Edu celebrates with the youths across the globe on the occasion of the International youth day with a theme *Intergenerational solidarity: Creating a world for all ages*

Dr. Betta in a correspondence released by her Special Adviser on political matters, Seun Bosede Osamaye, noted the importance of Youth Day as an awareness day designated by the United Nations to draw attention to a given set of cultural and legal issues surrounding the Youths.

Speaking as a mother in her goodwill message, the ebullient National Women Leader of the All Progressives Congress Dr. Betta Edu appealed to the Nigerian Youths to continue to be law abiding, to shun social vices, and to embrace peace as they join their counterparts all over the world to observe the *2022 International Youth Day*.

Noting that the United Nations has made a day like this very important to provide an opportunity for youths to reflect on their voices, actions, and initiatives, Dr. Betta beckons on the Nigerian Government to make it a norm in celebrating this day for the youth by raising awareness and educating people about the importance of youth in the society because the *Youths* are the pillars and future of every country.

Speaking further, Dr. Betta stressed the utmost importance of promoting youth participation especially in politics so that they can help to create a better future. She wish all Youths across the globe a successful outing and a Happy International 2022 Youth Day!

#BettaforBetterNigeria
#APCNationalwomenwing

*Comr. Victoria Uko*
SA Media to NWL

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News

LASG DISBANDS M.O.T ENFORCEMENT TEAM

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The Lagos Ministry of Transportation has placed an indefinite ban on the operations of its enforcement team tagged M.O.T Taskforce.

The Special Adviser to the Governor on Transportation, Mr. Sola Giwa, stated that the decision was reached after a thorough appraisal and review of the enforcement teams operating under the Ministry of Transportation.

Giwa explained that the ban is part of measures initiated to streamline transport enforcement activities in Lagos State to achieve the required effectiveness in line with global best practices, warning that the ban is not an excuse for drivers to disobey the traffic laws of the State.

The Special Adviser averred that Traffic Management and Transportation is a cardinal pillar in the T.H.E.M.E.S Agenda of the administration of Governor Babajide Sanwo-Olu, stressing that the readjustment of the enforcement strategy was to enhance service delivery to the people of the State.

He, therefore, enjoined the general public to report the activities of any unauthorised enforcement team still operating with the tag M.O.T Taskforce to the Ministry of Transportation for prosecution.

Appealing to Lagosians to cooperate with the State Government in its effort to improve the traffic situation across the metropolis, the Special Adviser gave an assurance that a lot is ongoing behind the scene to bring the much-desired change in the transport sector.

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Commerce

Bitfinex hold their first community hangout in Nigeria

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Bitfinex is one of the top and oldest trading platforms in the world. It is a trading platform for sophisticated and professional traders. After millions of secured transactions carried out on Bitfinex, communities have emerged from various parts of the world. These communities have expanded to multiple professionals helping each other grow on their crypto journey.
Time out in Bitfinex was created by and for the African community and it was graced with the attendance of two crypto industry leaders, Chuta Chimezie, the founder of Blockchain Nigeria User Group, and Linda I.A Obi founder of Techonomy.
The event began with a welcome and Introduction by Paolo Ardoino, the Chief Technology Officer for Bitfinex. Linda I.A Obi spoke on the inclusion and diversity of female representation in crypto-trading, crypto-trading techniques for beginners and advanced traders and she also shared the pros of trading with Bitfinex.
Chuta gave an insight on trading and blockchain in particular. He spoke about crypto in Africa and the need to position yourself rightly in the space by acquiring as many relevant skills as possible. Members of the community asked the speakers questions and were able to learn and gain a balanced view of the cryptocurrency industry as a whole and its future.
We are really excited that Bitfinex is finally coming to Africa.

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