By Lukman Olabiyi
Governor Babajide Sanwo-Olu has gotten the assurance from the investor that commercial operations at the Lekki Deep Seaport in Lagos Free Zone (LFZ) will begin in the first quarter of 2023
The governor got the assurance from Du Ruogang, Managing Director of Lekki Port and representative of China Harbour Engineering Company, who is now the major investor of the Lekki port project.
Ruogang made the pledge over the weekend when the governor and members of his cabinet visited the site on a two-day working tour of the three free trade zones established in Ibeju Lekki.
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.”
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.