Replicate Lekki Corridor across Nigeria, Verraki urges FG

Verraki Partners, a business solutions company focused on accelerating the development and transformation of Africa, has called on the Federal and State governments, working in partnership with private sector stakeholders, to replicate the Lekki Corridor also known as ‘New Lagos’ across other parts of Nigeria.


With deliberate government policies to attract private capital leading to huge construction projects and fast-developing real estate market, the Lekki Corridor is believed to be the fastest-growing region in Africa, attracting huge individual and institutional investments such as the Lekki Free Trade Zone (LFTZ), the Dangote Oil Refinery, the Lekki Deep Seaport, International Cargo Airport, chemical and fertilizer plants, among other projects.


Speaking during his presentation, themed ‘The Drivers of Private investment and Outlook 2020’ at an Economic and Business Outlook 2020 seminar organized by the Lagos Chamber of Commerce and Industry (LCCI), Niyi Yusuf, Verraki’s Managing Partner, said the Lekki Corridor has already attracted over USD 50 billion in investments, with more investments still expected. In his opinion, this would attract local and foreign manufacturers and businesses, boost the country’s exports significantly, raise employment rate and the nation’s industrial output. He called for increased support for Nigerian small and medium enterprises, considering their significant contribution to the country’s Gross Domestic Product (GDP).


Read the news on Business Day here