Lagos State Governor, Babajide Sanwo-Olu, has disclosed that the ongoing construction of the multi-billion dollars Lagos Free Zone project is expected to be completed by the first quarter of 2023.
Sanwo-Olu made the disclosure on Friday, a two-day working tour of the Lagos Free Zone in the Ibeju-Lekki area of the state.
The governor stated that the investment in the Lagos Free Zone can quadruple the state’s Gross Domestic Product (GDP).
Sanwo-Olu expressed the commitment of his administration to put in necessary measures to ensure the project is delivered on schedule.
The governor, however, expressed delight that the ongoing work has reached about 50 percent completion, saying, “The contractor has promised to deliver the project by the first quarter of 2023.”
Sanwo-Olu noted that the project when completed will provide various opportunities for youths, especially entrepreneurs.
The Free Zone located on an expanse of 830 hectares and covers the Lekki Port sitting on 90 hectares of land.
The proposed land-use master plan for Lekki envisages the Peninsula as a “Blue-Green Environment City”,[expected to accommodate well over a residential population of 3.4 million in addition to a non-residential population of at least 1.9 million.