Economic development is a vital component of our economy’s growth, as it creates high-wage jobs and improves people’s quality of life. The Lagos state government has planned another major means to create, attract and maintain jobs in the new developing axis of Ibeju-Lekki, likewise making lives easier.
Ibeju lekki developing rapidly, this has led to refer the area as the New Lagos. In fact the commercial Hub of Lagos state is shifting towards the area with many investments been done to develop industries and infrastructures. These contribute to Lagos economic growth, tourism growth, social etc.
Brief about Ibeju Lekki
The existence of Ibeju Lekki local government could be traced back to 1990 during the local government creation exercise by the then Nigeria head of state, General Ibrahim Badamosi Babangida.
It was one of the four created in Lagos state and one of the two hundred and eighty nine local governments created in the country that year. It is important to state that it was at this time that nine new states were created in the country.
The seat of the Ibeju Lekki local government was originally at Akodo before the recent Lekki local council development area was carved out, which necessitated the moving of the seat of government to the present Igando Oloja location.
The name of the local government is derived from two autonomous communities, Ibeju and Lekki. It was originally tucked within the old Epe local government. Prior to creation, Ibeju Lekki was treated as a backwater suburb to the Epe central and north. This veritably explains the slow pace of development in the area.
Ibeju Lekki is located at approximately latitude 4015’north latitude 4017′ north and longitude 13015′ east and 13020′ east. It is bounded in the north by Ogun state and in the west by Eti-Osa local government. It is bounded in the east by Epe local government and its southern ends join it to the Atlantic Ocean.
It is about 75 kilometers long and about 20 kilometers at its widest point. Suffice to say, that Ibeju Lekki local government land area is about 646 kilometers square, equals one quarter of the total land mass of Lagos state.
The local government is located along the coastal plain of Nigeria. The entire area is below sea level and only at a few places does the land rise above sea level.
The local government is also covered with mangrove forest at the northern part. Herbs are the most common plants with generous presences of palm and coconut trees. In recent time, much of the vegetation had been cleared. Patches of vegetation especially around Awoyaya down to Ibeju could only be seen. Along the west, however, there is thin vegetation because large traits of land are rising just above the sea level.
The people are mainly Ijebu speaking who have settled in the local government in several autonomous communities. Some of the prominence communities include: Abijo, Awoyaya, Eputu, Lakowe, Bogije, Sapati, Igando-Oloja, Ibeju Lekki, Arapagi, oke-odo Elemoro, Akodo, Magbon-Alade, Eleko, Debojo, Solu-Alade, Iwerekun, Mopo, e.t.c. In all, there are one hundred and fifty five towns and villages in Ibeju Lekki.
The Rise of Development
Former Lagos governor Bola Tinubu in 2006 launched the ambitious Lekki Free Trade Zone, domiciled in Ibeju Lekki, as an agenda to turn the region into one of the largest investment destinations in Africa.
At the ground-breaking on May 12, 2006, Mr Tinubu likened the creation of the export free zone to one of the most effective strategies for transforming a country like Nigeria from third to first world.
Since then, Ibeju-Lekki local government has seen the entry of huge private investment and one of such is the much-celebrated Dangote Petrochemicals Refiner worth $15 billion investment, reputed to the largest single-train refinery in the world upon completion. The refinery sits on 6,180 acres (2,500 hectares) of land.
Another is the Lekki Deep Sea Port, a $1.5 billion investment, which upon completion is projected as one of the largest deep seaports in Sub-Saharan Africa.
Recently, President Muhammadu Buhari commissioned the Dangote Fertiliser Plant is, Africa’s largest granulated urea fertiliser complex. It occupies 500 hectares of land in the Lekki Free Trade Zone and was built at about $2.5 billion.
It is expected to help Nigeria retain $125 million in import substitution and provide $625 million from exports of products from the fertiliser plant.
Major Hubs in Ibeju Lekki
DANGOTE MULTI BILLION DOLLAR REFINERY: The Chairman, Dangote Group, Alhaji Aliko Dangote, had in 2013 disclosed plans to build a 400,000-barrel-per-day crude oil refinery in Ibeju Lekki and subsequently awarded the contract to an Indian company, Engineers India Limited.
LEKKI FREE TRADE ZONE (Lekki FTZ): The Master Plan of Lekki Free Trade Zone (“Lekki FTZ”) covers a total area of about 30 square kms with 27 square kms for urban construction purposes, which would accommodate a total resident population of 120,000.
LEKKI DEEP SEAPORT: the development of Lekki Deep Seaport (Phase I) that is estimated to gulp about $1.5 billion. When completed, the port would relieve the pressure on the Apapa and Tin-Can Island ports and would also support business activities at the Lekki Free Trade Zone. The construction of the port will create more than 169,000 Jobs according to government sources.
LEKKI-EPE INTERNATIONAL AIRPORT: The state government has commenced works on the development of the Lekki-Epe International Airport to transport services in the state. The State Government has successfully obtained the site approval for the airport from the Federal Ministry of Aviation and has also completed the master plan of the 3,500 hectares of land earmarked for the project.
PAN ATLANTIC UNIVERSITY: Pan-Atlantic University is a private, non-profit educational institution in Lagos, Nigeria. The university had its origin as the Lagos Business School (LBS), established in 1991. The federal government approved the university as Pan-African University in 2002, and the LBS became its first school. In May 2013 its name was changed to Pan-Atlantic University, in order to avoid confusion with the Pan-African University of the African Union. The Ajah Campus was completed in 2003 and in 2010 work began on the Ibeju-Lekki campus.
LAKOWE LAKES GOLF QND COUNTRY ESTATE: Lakowe Lakes Golf and Country Estate is an exclusive 308-hectare residential development set within a scenic countryside around an 18-hole world-class golf course. The estate provides premium plots to house residences – detached and town homes, and corporate lodges. It will include requisite amenities, such as a clubhouse, halfway house, golf academy, and recreation center amongst others, all complete with first class infrastructure. Additionally, the estate offers an array of lakes, of which the spectacular 55-hectare man-made lake is the main feature.
ALARO CITY: It is located in the Lekki Free Zone’s North West Quadrant in Lagos, Nigeria. The city is conveniently located on the Lekki-Epe Expressway, providing easy access to Lagos and the rest of Nigeria. To the south of the city, the largest deep-sea port in West Africa is now under construction.
The New Commercial Hub
Considering all the amenities and attractions that Ibeju-Lekki has to offer, these will provide so many benefits to both the resident and the government of Lagos state and improved the Economy of the state.
This massive development is going to provide a lot of opportunities for a secure and long-term investment.
Properties on the periphery of an airport appreciate up to 40% in value in the first few years after the airport’s completion, and the rate rises to around 80% after the airport’s operations are fully operational.
Once landed property is strategically placed close enough to gain all of the benefits of living near an airport while remaining far enough away to avoid the drawbacks of living too close to an airport, such as noise pollution and potential health consequences. Housing costs rise as a result of the extra benefit of convenience.
Looking at how fast this city is growing, Ibeju-Lekki is the new Commercial Hub of Lagos?