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Fashola Unveils Multi Billion Dollars Lagos Energy City Project

Feb 23, 2008 - Lagos State Governor Mr Babatunde Fashola (SAN) on Saturday unveiled the masterplan of the private initiative multi billion dollars Lagos Energy City Project which is expected to generate 130 megawatts of electricity.

The project which is expected to be located on 170 hectares land in Badagry would be completed by 2011.

Speaking at the ceremony which took place at the Civic Centre on Ozumba Mbadiwe Street , Victoria Island , Governor Fashola explained that the city on completion would serve as a business and tourism facility where people can work and actualize their visions and “the last statement on leisure while you work”.

He added that the city is designed to incorporate alternative power sources and specifically designed to preserve the ecosystem of Badagry, with its serene beaches, ancient historical monuments and rich cultural traditions.

Governor Fashola also said with a 130 megawatts power station, uninterrupted power to the energy city on record time is guaranteed, while it will also enhance investments in Nigeria and increase the country’s ability to attract critical revenue from the energy sector.

In his words: “This energy city would be the biggest energy project in Africa and would serve the community in many countless numbers of ways. This is a project that will develop the country as well as the oil and gas sector in particular, and contribute significantly to the welfare of the people”.

He also revealed that about 2000 jobs would be provided by the new initiative, in addition to the enhancement of regional development which its proximity to the 10 lane Lagos- Ibadan expressway would afford.

The Governor said as a definite demonstration of the preparedness of the present administration, the designs for the expansion of the Lagos Badagry expressway would be turned in by July this year, adding that immediately the design is submitted, government would decide on the next step on the project.

The Lagos State helmsman said the Master plan comprises designs for zones one and two, which would be executed in stages and are aimed at redeveloping the coast of Badagry into a regional destination in the convention and tourist markets and strengthen Nigeria’s position as a global energy player in the ranks of other global energy hubs like Houston, Qatar, Singapore and Calgary.

He recalled that the mega city breakthrough is coming three months after a major workshop was hosted by the state towards making it a model for Africa in terms of Public Private Participation (PPP) for infrastructural development and the provision of service delivery to our people.

He reiterated that the expectation of the people for peace, progress, prosperity and security can only come through the radical modernization of its existing infrastructure, especially since the State has achieved the status of the first megalopolis in Africa and the third growing Mega-city in the world with a projected population of 25 million by Year 2015.

The Governor also said the phenomenal growth of Lagos will come with the demand for infrastructural development, security, employment generation, provision of affordable housing and neighbourhood upgrading development.

The present Government, Governor Fashola assured, is not discouraged, but is a government of possibilities that believes that Lagos is the ideal African city with all the facilities and opportunities to create and sustain a modern vibrant society for its residents.

He warned that the Government would not tolerate any claims to land ownership after the communities have agreed to host the project, as it has already had a prolonged meeting with all the leaders of the host community who have expressed willingness to extend their cooperation and understanding to all stakeholders.

He also sought the understanding of all local and international partners, friends, well-wishers and all stakeholders in the resolve to transform Lagos to become the economic destination of Africa .

Speaking on the project, the Director of Slam designs, Mr. Sathirut Nui Tandanand said the proposed city would be the most energy efficient project in Africa and in the world, in addition to making Lagos the benchmark in Africa .

He added that in addition to the lush greenery landscape which will pervade the first zone of the city, it would also boast of exhibition centres, hotels and the likes while the second zone would be an energy city itself.

Mr Sathirut Tandanand explained that over 2500 housing units made up single dwellings, town homes, and heartlands would be some of the features of the new energy city.

Also speaking on the proposed city, the Chief Executive Officer of Transglobal Energy Funds PTe, Mr Trevedi Kiran informed that over 200 million US dollars would have been raised from equities raised by the concessionaires by the end of March.

He promised that the project which would be completed by 2011 would be solely financed from equity raised from concessionaires and would be a joint partnership between Lagos , some local investors and foreign concessionaires.

In attendance at the event were also other members of the board of the Energy City Consortium like Mrs Ebun Oyagbola, Alhaji Lai Mohammed, representatives of the host community and other stakeholders on the project.

 

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