The House of Representatives Committee on Commerce has described the Lekki Free Trade Zone Quadrant as the country’s “new economic powerhouse” harbouring $25 billion investment.
The deputy chairman of the committee, Richard Gbande, said this when he led some members of the committee on inspection of the Lagos Free Zone, Lekki Free Zone, and the Dangote Free Trade Zone Enterprises Thursday in Lagos.
This was contained in a press statement issued Friday in Abuja by NEPZA’s head of corporate communications, Martins Odeh.
Gbande said the concept of the free trade zone had revolutionised the development of the Lekki axis of Lagos once upon a time considered as an undeveloped “peninsular.”
“We have gone round as part of our oversight functions to see this magical economic enclave called Lekki Quadrant and it is indeed a sight to behold.
“The committee is particularly enthused with the conversion of the peninsular to a majestic business city that boasts of the Deep Sea Port, Dangote Refinery, and over 200 other enterprises sustaining the country’s economy.
“For the umpteenth time, NEPZA’s inexorable push to carry out its mandate and mission of galvanising both the Foreign Direct Investment (FDI) and Local Direct Investment (LDI) must be supported. We can see how difficult these tasks are with the prevailing environment,” he said.
Earlier, the NEPZA managing director, Prof. Adesoji Adesugba, expressed delight on the inspection tour carried out by the committee members, adding that it had spurred them to become advocates of the free zone scheme.
Adesugba said the Authority was up to the task of using the scheme to industrialise the country for the greater good of the citizens.