By Munachimso Obienyi
Nigeria’s President Muhammadu Buhari and the Lagos state Governor, Babajide Sanwo-Olu, has called on investors to take advantage of the Lekki Free Trade Zone and invest massively in the growth and development of the country.
The appeal was made during the commissioning of the Pinnacle Oil and Gas Terminal facility in Lekki FTZ, Lagos on Saturday.
Whilst congratulating the Chief Executive Officer of Pinnacle Oil and Gas Limited, Peter Mbah, for establishing the massive terminal facility and providing hundreds of jobs to Nigerians, Buhari described the investment as a demonstration of the success of his administration’s agenda to transform the nation’s economy, adding that government looks forward to many more investments of this magnitude.
He further added that improving energy security is one of the cardinal objectives of his administration.
“We recognise that seamless supply and distribution of petroleum products is challenged by infrastructure deficit and the congestion of the Apapa and Ijegun area of Lagos. We have provided target support to the energy industry, we have also provided an enabling environment including regulatory facilitation to ensure investment in critical infrastructure.
We will continue to encourage and support investors to take advantage of the ongoing reforms in the oil and gas sector as enshrined in the Petroleum Industry Act (PIA) and replicate the success achieved by Pinnacle Oil and Gas Limited.
He also noted that the present administration is looking ahead for more investment of this magnitude and assured oil and gas investors of his administration’s continued support.
Also speaking at the event, Sanwo-Olu, stated that the terminal facility is the first phase of a larger plan of the Lagos state’s administration in creating an enabling environment for investors and added that the facility will not only serve Nigeria but has been positioned to look at the opportunity of export on the West African corridor.
While thanking the present administration under Buhari for its support, Sanwo-Olu said that Lagos will continue to remain the commercial and logistics hub of the entire West African region.
“This is just a one of the several complimentary large scale investments that will have transformed the Lekki peninsula, and will certainly transform our country Nigeria. The Lekki FTZ is already the fastest growing industrial zone in the whole of West Africa as we speak. Thankfully, the terminal facility is next to Dangote’s refinery and fertilizer company. This means development on this side of town.
We will be unveiling the lekki deep seaport. This for us means that there will be better commerce happening, there will be better growth on our GDP and indeed our citizens, our young people, you know that are craving for opportunity for jobs will be given the right opportunity for them to see that the future is bright for them”, Sanwo-Olu said.
He thereafter urged investors to invest in the Lekki FTZ, stating that the Lagos state government is willing to give them the enabling environment that will make their businesses thrive and ensure it contributes in the growing of GDP for Nigeria.
