Bearing in mind one of the major factors that has worked against business growth in the country, the Lagos State Government is taking the bull by the horn to ensure that both big and small businesses in Lagos Island were not constrained by such factors.
To this end the state government on Tuesday commissioned a new Independent Power Plant, IPP, which will generate 12 megawatts of electricity that will supply uninterrupted power to the Lekki Free Trade Zone, LFTZ, Lagos.
The 12MW Independent Power Project which was built by the Chinese Railway Construction Company, CRCC, will be the sixth to be commissioned by the Babatunde Fashola-led administration in the state.
The project which was executed under the Build, Operate and Transfer, BOT, in partnership with state government will allows the state to take possession of the project after the construction firm must have recoup its investment over a period of time.
Fashola commended the stakeholders and investors for keeping faith with the state government since 2006 when the journey towards developing the zone started, adding that the zone will outlive this generation
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He urged the host community to continue to support the trade zone, adding that the power plant will also supply power to residential homes in the area and boost its economy.
The governor added that irrespective of languages differences among the people, business and development speak one language, which is that of prosperity for all.
He emphasised that the road to prosperity in the Nigeria is in three words: “Made in Nigeria.” China has shown that example and that is why they are the largest economy in the world today. We can replicate that achievement here and that is why they are our formidable partner.”
While he did not overlook the inherent challenges attendant of such mega facilities, Fashola assured that all possible problems would be addressed to keep the station running.