“Tinubu’s presidency will be a new dawn as we hope that the scheme will be used to speedily drive national growth.'
Lagos State occupies a vital space in Nigeria; first, as a megacity with an estimated 20 million population and second, as a coastal city with endless maritime routes that connect international waters that have positioned it as the country’s most viable commercial hub.
Currently, 18 out of the 52 free trade zones in the country are located in Lagos. They are Lagos Free Zone , Snake Island Integrated Free Zone , Lekki Free Trade Zone , LADOL FTZ, Newsrest ASL Services & Logistics, Dangote Industries and Alaro City Development Free Zone. For instance, the Lagos Free Zone started in 2002 with 215 hectares. Later in 2012, around 590 hectares were given by the state government with the construction handled by Lagos Free Trade Zone Company.
The NEPZA managing director alluded further that the president had laid the foundation for the establishment of the leading free zones in the country that had attracted over $30 billion from the non-oil sector and generated over 170,000 direct and indirect employments. The NEPZA boss is not alone in acknowledging Mr Tinubu’s contribution to investment. Some experts recall how, as governor, his intervention on the old Lagos Bar Beach saved investments in Victoria Island estimated at over $170 billion from perennial ocean surges.
The proposed area covered an area of 60,000 hectares stretching from Victoria Island in the west to Refuge Island and some parts of Lekki town in the east. Specifically, the free zones in Calabar and Kano have been facing the challenges of poor infrastructure, inter-agency rivalry, undue interference, inadequate NEPZA Act and a dysfunctional system of operation.
Earmarking the country’s four major international airports as Special Economic Zones, and approvals for other specialised public zones in Lagos, Katsina, Benue, Gombe Ebonyi and Ilorin, can be avenues for the new government to begin a widespread development across the six geopolitical zones.
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