Nigeria: Lagos, Asian Firms Build Energy City
As the states and communities in the Niger Delta region of the country sustain sundry hostilities on the petroleum industry, Lagos state government is exploring the economic opportunity of providing a safe, secure and congenial corporate haven for the energy industry operators.
In doing this, the state government headed by Alhaji Babatunde Fashola is targeting to leverage the economic investments in hospitality, tourism, power and ancillary services to generate employment and revenue to sustain rapid expansion of Lagos to one of the world’s megacities.
Consequently, the state has entered into a joint venture with a league of Asian and local investors to realize the $1.8 billion or N07 billion Lagos Energy City Project that would open up the Badagry exis of the state for a world class business solutions facility for oil firms, service firms, financial institutions, digital platform providers, communication firms and sundry service providers in an infrastructure enhanced enclave.
According to the investment consortium formed by promoters of the project. Supra Energy and Power City Limited, the Energy City Project will within a short gestation period establish a seamless haven comprising a convention centre, resort and hotel zones in two phased project cycles.
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