32.2 C
Lagos
Saturday, November 27, 2021

Lekki Deep Sea Port to start operations by third quarter of 2023 ~Sanwo-Olu

- Advertisement -spot_imgspot_img

The Lekki Deep Sea Port would become operational in the third quarter of 2023, according to the Lagos State Governor, Babajide Sanwo-Olu.

Sanwo-Olu, who spoke at the opening ceremony of the maiden edition of the Lekki Peninsula Region Conference and Expo 2021 called on investors to take advantage of the economic incentives attached to the Lekki axis of the state.

Represented by the Commissioner for Commerce, Industry and Cooperatives, Lola Akande, Sanwo-Olu stated that the event was organised to unveil the commercial, industrial, investment opportunities in the axis.

READ ALSO: Mark Zuckerberg announces new name for Facebook parent firm as ‘Meta’

“There are also 100 percent foreign ownership of investments, 100 percent repatriation of capital, profits and dividends as well as waivers on all imports, exports and import licences as well as a waiver on all expatriate quotas for companies operating in the Lekki Free Zones,” the Governor was quoted as saying.

“Multi-billion dollar investments, both foreign and local, are springing up within the zone and axis. As you are aware, the Lekki axis is on the verge of being home to Africa’s biggest oil refinery and it is expected to be operational soon.

Also, the Lekki Deep Sea Port, when completed and operational in the third quarter of 2023, will be the most modern port in West Africa.

“These two projects are strategic as they will further open up the axis and unlock huge opportunities for investments and general development of the region,” the governor stated.

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img