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Nigeria: Master Reality Concepts plans $14.6m ICT mart in Lagos

Wednesday, 19 July 2017 18:54

(Ecofin Agency) - Master Reality International Concepts Limited has revealed plans to construct a N5 billion ($14.6 million) Information Communication Technology (ICT) mart and laboratory in Lagos, Nigeria.

To be sited on a three-acre land in Ikeja, Lagos, the ICT centre will be a one-stop shop solution to all ICT related issues, provide content, and help in diversifying the Nigerian economy from oil, according to Lai Omotola (photo, middle), Managing Director and CEO of the company. He said: “We believe strongly in government’s effort to diversify the economy. And one of the fastest ways to diversify the economy is through ICT. There is so much crave today for content and content development. In order for us to prepare for the coming demand and even meet existing demand, we are building the Ikeja ICT mart as a way of solidifying the value chain end of the IT and communication industry. We have come to realize the value chain end is very important in bringing us to global recognition as an IT super house.”

He added that the ICT mart will have 1,000 shop outlets, a multi-storey car park with space for 280 cars, banking hall and a globally certified IT lab, among others. Omotola noted that already a number of international ICT firms have indicated interest in carrying out businesses at the mart, once completed.

The project, however, is subject to necessary approvals from the government. The CEO expressed confidence that all approvals will be obtained in three months and the project will be delivered within 18 months.

Master Reality Int’l Concepts Limited is a member of CFL Group, an indigenous infrastructure company engaged in Real Estate, Energy, Power, Construction, Agriculture and Transportation. Founded in 1999, CFL Group started with NEXT Technology Nigeria Ltd., a telecommunication company that provides internet services for teeming customers.

Anita Fatunji

 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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