Export inflow at LFZ to hit $6bn by 2020 — Ambode
The Lagos State governor, Mr Akinwunmi Ambode, yesterday projected the export flow at the Lekki Free Zone (LFZ) in the Ibeju Lekki area of the state to hit over $6 billion (about N2.159 trillion) by 2020.
Gov Ambode, at the 2nd national committee meeting on export promotion of the National Economic Council (NEC) held in Lagos, said it had become imperative for Nigeria to put in place infrastructure and other initiatives to support other sectors beyond oil with a view to preparing them for export.
He said that already, the Lagos State government had keyed into several export-oriented initiatives such as the One-State One-Product initiative, adding that it was gratifying to note that tremendous progress had been made in that regard.
“Our efforts in this area include the development of the Lekki Free Zone as a one-stop export processing zone. At the end of 2020 when the investment of the Dangote Industries and other deep seaports that we are putting in that place will fully come on stream, the export inflows that we are projecting for that place will be over $6bn,” the governor said.
He said that through the export initiatives being spearheaded and monitored by the Nigerian Export Promotion Council (NEPC), the state government had identified and commenced the process of developing three key commodities in which the state had comparative and competitive advantages.
The commodities and vegetables.
“We plan development of are coconut, fish to facilitate the these commodities into exportable products. Our export promotion initiatives also include export aggregators designed to boost the production capacities of our indigenous micro, small and medium industries. The objective is to create locally made products and services that not only satisfy local market but meet competitive export demand.
“We have also developed an enterprise zone, a small scale industrial estate and light industrial parks in different parts of this state to provide business accommodation and also factory spaces, support made-in-Lagos campaign and to also enhance market access for our MSMEs,” the governor said.
He saw the visit of the French President, Mr Emmanuel Macron, to the Afrika Shrine in Ikeja, as a development that signposted the need for the country to develop other sectors of the economy, especially the creative industry.