By Kazeem Ugbodaga
Lagos State Governor, Akinwunmi Ambode on Friday disclosed that the government and China Africa Lekki Investment Limited (CALIL), will in next six months inject $64 million into Lekki Free Zone, LFZ, aimed at fast-tracking development in the zone.
Also, Chairman, Lekki Free Trade Zone Development Company, Biodun Dabiri revealed that $6 billion had been invested into the zone.
The governor, during an inspection tour of the LFZ project said the injection of the fund, which served as equity from both parties, would help attract more investors to the zone.
Of the fund, Lagos is expected to provide $15.01 million while CALIL will commit $49.88 million into the project, as their counterpart funding.
Ambode said the state had 40 percent investment as against the company’s 60 percent ownership of the project.
The governor explained that the project, when…
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