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 US dollar investment.
The Deputy Chairman of the committee, Mr. Richard Gbande disclosed this in Lagos when he led some members of the committee on inspection of the Lagos, Lekki and Dangote Free Trade Zones.
He explained that the government’s relentless efforts in trying to diversify the economy resulted in the development of the Lekki Quadrant which would undoubtedly become the country’s new economic powerhouse.
Mr. Gbande said that the concept of the free trade zone had revolutionised the development of the Lekki axis of Lagos once 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”
The Deputy Chairman of the house committee on commerce, therefore urged the Ministry of Transport to hasten the construction of railway lines in the Lekki free zone area for seamless movement of cargoes.
The Managing Director, Nigeria Export Processing Zones Authority, NEPZA, Professor Adesoji Adesugba said his organisation was up to the task of using the scheme to industrialise the country for the greater good of the citizens.