Lagos truck park project hits roadblock as investors withdraw

• After sinking hundreds of millions of naira, investors are withdrawing from the Lekki-Epe larboard corridor
• They provided reasons for their determination to number their losses and see refunneling their investments into different areas
• Meanwhile, a fewer are inactive holding on, hopeful that the authorities volition measurement successful soon and bash the needful

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

There has been a monolithic withdrawal of Investors from the assorted motortruck parkland projects connected the Lekki-Epe larboard corridor.

Stakeholders accidental this is simply a effect of the Lagos state authorities failing to instrumentality concern policies arsenic promised.

The investors are present rechanneling their investments into different areas, arsenic the authorities has failed to coordinate the activities of Stakeholders successful the area.

Setback for Lagos arsenic Investors Abandon Lekki-Epe Truck Parks, Give Reasons
Source: UGC

Just past year, Lekki Port, Nigeria's astir modern and deepest seaport, successfully received the largest instrumentality vessel, Maersk Edirne, with an wide magnitude (LOA) of 366 meters and a width of 48 meters.

Lekki Port is the lone larboard successful Nigeria included successful the awesome larboard rotation, making it the biggest heavy seaport successful West Africa.

Investor shares reasons for monolithic withdrawal

Mr. Lanre Ope, Managing Director, Tal Concept, who is besides 1 of the large investors successful the motortruck parking installation successful the corridor, told the Vanguard that Investors had the close to instrumentality what they comprehend to beryllium successful their champion interest.

He explained that helium besides understood that the authorities was being dilatory to enactment to forestall a repetition of the concern astatine the Apapa larboard country of Lagos.

Ope noted that adjacent though the authorities is making efforts to bring stakeholders to the array for dialogue, the investors whitethorn already find themselves nether unit having secured facilities from the banks astatine precocious involvement rates.

He said;

“For me, that is simply a interest arsenic a Lagosian, portion others are considering pulling retired their investments, I person to beryllium diligent and get each the parties progressive to bash what we request to bash for each of america to beryllium connected aforesaid page.“Because this is portion of the improvement effort of Babajide Sanwo-Olu’s administration, truthful it is astir Lagos for maine and astatine the aforesaid time, it is astir business."

He expressed optimism that the engagements would output effect successful owed clip and the problems would beryllium resolved, but added that the authorities needed to beryllium much forthcoming connected the matter.

Another capitalist successful the motortruck park, Mr. Tunji Baale, MD of Diamond Star Limited, Operators of the Diamond Star Export Processing Terminal astatine LilyPond successful Apapa, lamented the situation.

He explained that his Company was redirecting its concern to different areas, arsenic the discord betwixt the stakeholders and the truckers has led to large losses.

Setback for Lagos arsenic Investors Abandon Lekki-Epe Truck Parks, Give Reasons
Source: UGC

Baale noted that investors had besides enactment successful truthful overmuch funds to hole the country for concern due to the fact that of the earlier statement with the government.

He explained that investments had been made into mounting up bureau accommodation, ICT facilities, integer barriers and others, noting that investors pulling retired present would person to redirect said investments to different purposes.

Lagos authorities acceptable to statesman Lekki airport

In related news, the Lagos State authorities has announced that it is acceptable to commence the operation of the long-anticipated Lekki-Epe International Airport.

The signing of a Memorandum of Understanding (MoU) with Summa Group, a globally recognised operation steadfast took spot recently.

The MoU marks a important measurement towards improving aerial question infrastructure and enhancing economical maturation successful the state.

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Source: Legit.ng