LASG considering investment proposals worth $34bn, gives firm nod for pencil production line in Epe


Investment proposals totalling $34 billion are receiving the consideration of Lagos State government. They cut across sectors of the economy – infrastructure, environment, health, manufacturing, real estate and transportation.

Ademola Abass, special adviser to the government on overseas affairs and investment, disclosed this, Thursday, saying a total of 139 investment proposals had been received since the creation of the Office of Overseas Affairs and Investment, last year.

According to Abass, asides the medical park proposed to be completed within the next 20 months in Ikoyi, and will cost a consortium of investors from the US about N49 billion, others are expected, including a proposal to manufacture pencils approved by the state executive council and land already allocated for the factory in Epe.

“Since inception of this administration, investors have shown considerable interest in tapping into the investment opportunities in Lagos, and so far we have received investment propositions approximately worth of $43 billion. The state government has approved a good number of investment proposals out of the 139 that are at various stages of consideration at the Office of Overseas Affairs and Investment,” said Abass.

The commissioner said critical sectors with huge potential had been identified and scanned which investors can take advantage of. These include transportation, tourism, health, power, agriculture and housing.

He explained that within transportation sector, investors were expected take up construction and maintenance of jetties and roads as well as the operation of mass transit buses and rail system.

In the power sector, Abass said opportunity existed for the generation least 9,000 MW of electricity, while in tourism, investors stand to reap from protection and preservation of beaches, convention centres, hotels and motels, casinos, holiday resorts, amusement and parks.

He also pointed to opportunities in modern abattoirs, agro processing for export, storage facilities, dairy farming, and livestock feeds production and development of settlements in the agricultural.


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