Lagos State Government of Nigeria has said investment in the Lekki Free Trade Zone has hit about N4.55 trillion.

Commissioner for Commerce, Industry and Cooperatives, Rotimi Ogunleye told journalists yesterday in Alausa that the investment includes N3.35 trillion ($11 billion) from Dangote Group and N1.2 trillion ($4billion) from other investors.

Ogunleye said about 116 investors had so far registered with the Lekki Free Trade Zone.

According to him, while some factories are currently under construction, 100 investors have signified their intention to register and situate their business within the zone.

“The Lekki Free Zone 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. “While some factories are currently under construction, 100 investors have also signified their intention to register and situate their business within the zone,” he said.

The commissioner explained that during the period under review, the Lagos State government further released a sum of N698,478,850 to the joint ventures as part of the state’ equity contribution.

“This is part of the effort to ensure the speedy development of the free zone and honour the state’s obligation to counterpart funding of the project,” he added.

Source: The Nation Online