By Olasunkanmi Akoni & Monsuru Olowoopejo

lagos—Investments into the Lekki Free Trade Zone (LFTZ), an emerging business hub in the Lagos axis of the state has risen to over N100 billion in the last 10 years.

Chairman of Lekki Free Zone Development Company, Mr. Abiodun Dabiri, who disclosed this at the weekend while giving progress report on the Zone to Governor Akinwunmi Ambode, said more investors have indicated interest in coming to set up businesses in the Zone.

Dabiri said the recent efforts by the governor, especially in the change of baton in the management of the Zone has yielded positive results over the last one year.

He said with the massive investments coming into the Zone as well as interests from new investors, there was need for the road network to be expanded to accommodate the expected heavy influx.

While responding, Governor Ambode said his administration in partnership with its Chinese partners will commit a sum of $62 million in the next six months as part of its counterpart funding to advance the ongoing development of the Lekki Free Trade Zone, LFTZ.

He assured that the government was totally committed to addressing the challenges and ensuring the project is actualised.

He said over $6 billion has been invested in the LFTZ in the last few years, with the Dangote Group providing a lion share of about $4 billion.

Governor Ambode also assured that work would commence on the Lekki Deep Sea Port next month, saying that it was also a critical infrastructure that would attract more investors into the Zone and ensure return on investment.

He expressed optimism that with the Lekki Deep Sea Port, Dangote Refinery and Lekki Airport coming on board, the Lagos East axis would witness massive economic turnaround within the next two years.