– Ambode inspects the on-going Eko Atlantic City (EAC) Project in Victoria Island– The Lagos state governor says the project will boost the economy of the state
– He says the project will also increase the state Internally Generated Revenue (IGR)
Governor Akinwunmi Ambode on Sunday, July 31, embarked on an extensive tour of the Eko Atlantic City (EAC) Project, expressing confidence that the initiative will not only boost the economy of the state, but also increase its Internally Generated Revenue (IGR).
Accompanied on the tour by members of the State Executive Council, Governor Ambode pledged the total commitment of his administration towards the success of the project, saying that it would go a long way to facilitate the quest to grow potentials of the state economy.
He said: “I would like to express the total support of this government to this project because at the end of the day we need to grow the economy of Lagos and this obviously is going to have multiplier effect on our IGR.
“We promise that we are going to grow our IGR to N30bn by 2017 and N50bn by 2018 and this project is a sure outlet in achieving that goal.”
He also expressed satisfaction on the infrastructure already put in place, saying that it now behoves on investors to take advantage of the massive opportunities.
While commending the promoters of the EAC Project for their confidence in committing huge resources to the Nigerian economy, Governor Ambode said their investment was a positive sign that Nigeria remains the investment hub in Africa.
The Governor said: “Notwithstanding the economic recession that has befallen the country right now, we have come to also show that outside the recession, there is a whole lot of progress going on in the investment climate in Lagos state.
“We are very happy that the signs are looking very good for investment in Lagos. We are also very happy that we are doing everything possible to encourage investors to come into the state and I will like to assure that we are committed to make this project a big success.”
Governor Ambode, who also inspected the 8.5km long shoreline wall, otherwise known as the ‘Great Wall of Lagos’, built to protect the EAC, said it was gratifying that the project will not only protect the new city, but also protect the whole of Victoria Island against any ocean surge, which was one of the primary reasons for the project.
He continued: “This is a new and a bigger version of Victoria Island. We are going to have an Energy City here, a financial hub that is more or less going to run under a Free Trade Zone and so on.
“Basically, all these put together turns Lagos to that leader that we want it to be in Africa and the quality of infrastructure that has been put here is also encouraging.
“I just want to encourage other investors and other people who had taken one step or the other in respect of the Eko Atlantic City that the time is now because in another one and half years, this place will be something else.”
The Eko Atlantic City Project is a multi-billion dollar project sitting on over 10million square metres and is expected to accommodate over 150,000 people who would reside there and another 250,000 who would work and commute within the city on a daily basis.
So far, out of the over 10 million square meters of the project, about six million square meters have been reclaimed, while there are 15 bridges and two tunnels designed with the project.