Lekki Corridor: Lagos Attracts $200m Investment from Abu Dhabi

Lekki Corridor: Lagos Attracts $200m Investment from Abu Dhabi

The Lagos State Government has secured a $200 million investment partnership with Abu Dhabi Ports to develop key infrastructure and logistics within the Lekki corridor. This deal also aims to enhance ICT innovation and healthcare services. The announcement was made by the State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, during a press briefing marking Governor Babajide Sanwo-Olu's second term in office.

The Commissioner noted that the investment resulted from the recent Lagos Investment Roundtable, which attracted multiple expressions of interest from local and foreign investors. Additionally, Lagos signed a Memorandum of Understanding with the Commonwealth Enterprise and Investment Council (CWEIC), reinforcing the state’s position as a hub for trade among Commonwealth nations.

Outside of Lekki, Lagos is also developing industrial infrastructure in Ikorodu with a new Small-Scale Industrial Estate at Gberigbe, set to accommodate 44 light manufacturing and agro-processing businesses. Revitalization plans are also underway for older industrial estates in Ikeja, Ilupeju, Oshodi-Isolo, and Amuwo-Odofin.

On consumer protection, the Commissioner revealed that over 35 supermarkets have been fined or shut down for selling expired goods, with legal actions initiated in some cases. The government is also encouraging consumer vigilance and whistleblowing.