$735.8m Goods Exported From Lekki Free Zone - Lagos State
Photo: Medium

The Lagos State Government has revealed that more than $735.8 million (about N264 billion) goods have been exported from the Lekki Free Zone project in the last three years.

Commissioner for Commerce and Cooperatives Olayinka Oladunjoye revealed this on Monday at the annual Ministerial Press Briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration held at the Bagauda Kaltho Press Centre in Alausa.

According to Oladunjoye, the government is willing to develop businesses in the Zone, even as he noted that measures were taken to ensure that the goods meet international standard before they are exported out of the country.

She said the Nigeria Customs, Nigeria Export Processing Zones Authority (NEPZA) and other supporting agencies coordinated the exporting process of the goods in conjunction with the Standard Organisation of Nigeria (SON).

In addition, he disclosed that to date, the Joint Venture with the Chinese Consortium has a total equity investment of $180.4 million and has received Foreign Direct Investment (FDI) totaling $140.2 million out of the $200 million FDI expected from the Consortium.