Fashola Inaugurates IPP for Lekki Free Trade Zone

May 26, 2015 – Lagos State government has inaugurated 12MW Independent Power Plant (IPP) to supply uninterrupted power supply to the Lekki Free Trade Zone (LFTZ).

The IPP is the sixth power plant to be inaugurated by the Babatunde Fashola government. The Lekki IPP was built by Chinese Railway Construction Company (CRCC), under the Build Operate and Transfer(BOT) agreement with the state government. The state government also inaugurated Candel Agrochemical Manufacturing Plant in the zone.

Speaking at the occasion, Fashola said the facility was another milestone in the life of his administration, and that it is the end-product of its commitment to the business zone.

Fashola commended the stakeholders and investors for keeping faith with the state government since 2006 when the journey started.

“Today, we have lived the dream; block by block, the zone has emerged. This zone will outlive all of us because it will be here in another 200 years. So, it must grow gradually and at its own pace. Today, we have achieved another milestone.

“This entire place was thick forest in 2007 without roads. We built roads and today, it is having electricity. It is only a modest journey and all the community will benefit,” Fashola said.

He urged the community to continue to support the trade zone, adding that the power plant will also supply power to all the house in the area.

The governor added that irrespective of language differences, business and development speak one language, which is that of prosperity for us all.

He noted that the road to prosperity in the Nigeria is in three words: ‘Made in Nigeria’ adding that China has shown example  hence they are the largest economy in the world today.

“We can replicate that achievement here and that is why they are our formidable partner,” he said.

Also speaking, Commissioner for Commerce and Industry, Olusola Oworu, said the availability of constant power supply would tell other investors that the LFTZ is here to stay.

“LFTZ is the first in Nigeria that will have uninterrupted power supply. We are ready for business,” she said.

She explained that the incoming government would also keep to the master plan and in accordance with the Memorandum of Understanding (MoU).

She reiterated that the zone was committed to manufacturing of locally made goods and creating jobs for Nigerians. Vice President of the CRCC, observed that 98 enterprises have so far expressed interest in the zone, further raising the optimism for steady growth