Lekki Free Zone Is Future Recovery, Diversification of Nigeria Economy, says Commissioner Ogunleye
The Commissioner for Commerce, Industry & Cooperatives, Prince Rotimi Ogunleye has stated that the solution to the country’s dependence on oil and recovery from economic woes lies in the state’s economic roadmap.
He stated this during the ongoing Ministerial Press Briefing of the Ministry of Commerce, Industry & Cooperatives ,at Bagulda Kaltho Press Centre, Alausa Secretariat, Ikeja.
“Lekki Free Zone is the most successful in the country. The level of interest the project has been generating outside the country is huge and that is why we keep improving. The project is the future recovery and diversification of Nigeria’s economic life.”
“We are committed to the sustainability of the state’s position as the nation’s economic hub which is now adjudged as the 5th largest economy in Africa and specifically, the Ministry of Commerce, Industry and Cooperatives, as the driver of commercial and industrial growth ,will continue to generate ideas and policies that will stimulate massive economic development of the State.”.
“We shall maintain the States’ leading role in our collective quest to diversify Nigeria’s mono-product economy by continuing to promote the production and consumption of locally made goods and pave way for aggressive investment in the non-oil subsector.”
“The Lekki Free Zone (LFZ) remains a landmark industrial project for the Lagos State Government. The strategic partnership between the Lagos State Government and the China-Africa Lekki Investment Limited (CALIL) in the Lekki Free Zone Development Company (LFZDC) is a testament to the undying resolve of the State Government to ensure sustainable industrialisation of the State that would translate to improved job and wealth creation as well as economic growth through the attraction of local and foreign direct investments.”
“I am very happy to inform you that 116 investors have so far registered with LFZ out of which 16 have commenced full operations. While some factories are currently under Construction, 100 investors have also signified their intention to register and situate their business within the zone.”
He listed the investors currently in operation in the Zone as the following: The Candel FZE, Agro-Chemical, Formulation Plant, Lovinghome Furnishing FZE- Office Furniture
Manufacturing, Sinotruk FZE-Dump Trucks Assembling, Crown Natures Nigeria FZE-Garment Factory, H&Y International FZE- Artificial Hair and Wigs Making and Dabu Pump FZE- Water Pumps Assembly,
Others are Bollore Africa Logistics FZE-Logistics Services, Huachuang Steel Structure FZE- Steel Structures and Iron Sheets, Yulong Steel Pipes FZE- Steel Pipes Mill Asia-Africa FZE- Vehicles Assembly, Aslan Nigeria FZE-Manufacturing of Security Doors, Coral Beach Fze – Estate Development, CCECC Nigeria FZE- Construction and Civil Engineering ZNI Jian Nigeria FZE- Construction and Jiangsu Geology & Engineering (Nig) +ZE- Construction Service , ZCC Construction FZE- Construction Service.
“It is important to emphasise that some of the factories listed above were at various stages of construction this time last year. Also, the factories of the following companies are now under construction: Golden Dream Commodity FZE, Hidier Generators Assembly FZE and Datang International FZE.”
Commissioner Ogunleye also listed the establishment of Light Industrial Park at Imota, Partnership with UNIDO , establishment of a Fashion & Shoe Hub and Packaging Cluster at Gberigbe Entreprise Zone, issuance of licences to auctioneers, Equity contribution to Lekki Free Zone development, payment of compensation to Lekki Free Zone Communities and the implementation of Harmonized Inspection of Industries in the state among many others as achievements of the ministry under review.
The Commissioner also hinted on the state government’s plan to introduce new Industrial policy aim at enhancing the industrial landscape of Lagos State.
“In the drive for an enhanced industrial landscape in Lagos State, the State Government through the Ministry of Commerce, Industry and Cooperatives,is on the threshold of delivering a new Industrial Policy for the State. The Ministry which is in partnership with the United Nations Industrial Development Organization (UNIDO) is preparing the all-encompassing Industrial Policy to replace the obsolete policy of 1985”, Prince Ogunleye revealed.
“A Validation Workshop/Retreat on the new Industrial Policy was organized during the period under review. The workshop was well attended by various stakeholders from the Organized Private Sector (OPS) and representatives of relevant Ministries, Departments and Agencies (MDAs) of Lagos State Government with technical support from UNIDO”,he stated.