(Ecofin Agency) - A sum of $6billion has been invested in the Lekki Free Trade Zone by Dangote Group and other companies in the last one year, according to Lagos State Governor, Akinwunmi Ambode (photo).

“We are all aware of the investments Dangote Group and China Africa Lekki Investment Limited (CALIL) have injected into the zone. Dangote Group has the lion's share of about $4 billion,” he said.

Speaking while inspecting the Zone during the weekend, Ambode disclosed that the construction of the Lekki Deep Sea Port which is valued at $1.6billion will commence in April in line with plans to fast-track industrial and manufacturing activities in the Zone.

He said Dangote Group is currently undertaking four strategic projects which include a petroleum refinery, fertilizer processing plant, sub-sea gas pipeline project, as well as a petrochemical project expected to be completed before 2019.

The Governor explained that injecting the funds at a critical time when the country is struggling to pull itself out of recession would not only improve infrastructure and boost development but would also attract more investment.

“With the Lekki Deep Sea Port, Dangote Refinery and Lekki International Airport coming on board, Lagos East will witness massive economic turnaround within the next two years,” he said.

Anita Fatunji