The most strategic Location that will boost Lagos’s economy

A new wave of unprecedented development is happening right in the corridors of Lekki-Epe and it’s about to position Lagos state on the global lens as one of the largest and the most developed economical hubs in the comity of developed nations.

Although, this has been envisaged for a long time. However, in the years taken, the political will and financial capital invested to get to this present stage of development are now helping to stimulate the traction needed to consolidate the gain to be achieved at the end of the tunnel.

Statistical markers and indices are all pointing to the fact that many investors ( both local and foreign) are already charting their territory and laying down a foundation that will change their fortune within this Lagos territory.

While considering all the developmental pointers, it starts to beg for more answers as to how this will

  • Attract foreign investors
  • Attract tourists
  • Increase expatriate inflow
  • Increase and ease international trade
  • Revolutionise the energy sector
  • Favour economical viability
  • Improve inter-state trading route
  • Increase the financial strength of Lagos residence
  • Drive the growth of tech startups

This also gives us the genuine reason as to why all hands need to be on deck so as not to be left behind in this progress as we are seeing a handful of smart investors already celebrating their wins.

So to the point: here are the following strategic sites now accommodation trillion dollars construction projects that will boost Lagos economy in multiple folds. And this is how they can help

  • Increase the financial strength of Lagos residence 
  • Drive the growth of tech startups
  • Attract foreign investors
  • Attract tourists
  • Increase expatriate inflow
  • Favour economical viability
  • Improve inter-state trading route
  • Increase and ease international trade
  • Revolutionise the energy sector

Before we dabble into that, let’s quickly get the developmental dynamic straight up. The picture below highlights the influence of any of the resources being found in Epe-Lekki will be like > crude > refinery > industrial site > (water) > farming (water)

Dangote refineries and How valuable is the facility to Nigerians

As strange as it might seem to the ear of many Nigerians that no refineries are working again in Nigeria presently while this has persisted for a while, they can’t keep pretending that all is well with the way Nigeria’s crude oil is been managed.

Unfortunately, this issue is largely compounded by the abandonment of government-owned refineries for foreign-based refineries that further weaken the value of the Naira against the dollar when the crude oil pumped to the foreign refineries is resold to the Nigerians Government after being processed.

In the not-too-close distance, the story is about to change for good because the Dangote refinery which is sitting on a large expanse of land of Lekki-Epe will help rewrite the economy of Lagos. And this is how things could work out.

With this development in view, we should expect the influx of expatriates and technological transfer from them to Nigerian citizens that would benefit more from the jobs creation the facility will achieve. Residential locations will be more sort after, and financial spending power would increase which will favour more business owners, as well as the gas stations and gas-related installations will be highly sorted after.

New link bridges and how important is it to Lagos’s Economy

The proposed 4th mainland bridge is just one among the numerous bridges the Lagos state government has earmarked to be completed as soon as possible to reduce traffic congestion.

This 4th mainland bridge will link Ikorodu to Ajah and Ajah to Epe. Which in return relieves the stress of commuting by road transport.

With the recent completion of light rail, we can expect the burden within or out this Lagos to be drastically reduced. The redline rail is already set in motion and that will greatly add to improving the standard of living of commuters in Lagos.

Deep Lekki seaport and the role it will play in developing Nigeria’s economy

The Apapa Tincan Port of Lagos is Nigeria’s leading port in terms of being one of the largest and busiest in Africa.

The categories of vessels that regularly call at this port of Lagos include oil/chemical tankers (13%), bulk carriers (12%),
Fishing vessels (18%), container ships (14%),  and offshore supply vessels (5%). The port currently has the capacity to handle vessels of about 30,000 tons.

A container port owner such as the Danish company A. P. Møller-Mærsk operating within the Apapa port is worth over one billion U.S. dollars.

Over time, as Lagos continued to experience an increasing urban population and delay in decongesting Apapa ports, the Lagos state government matched up to the challenge by facilitating the construction of the deep Lekki sea port which is 10 times bigger than Apapa port. This seaport is finally completed and delivered in 2022.

As regards the way this deep Lekki seaport can influence Lagos’s economy positively, this port will enormously support commercial activities within and outside Nigeria.

Newly approved international airport in Lekki-Epe

The Federal Government has approved the construction of the Lekki International Airport in the Lekki-Epe area of Lagos State.

The Minister of Aviation, Hadi Sirika, presented the approval for the new airport to the Lagos State Governor, Babajide Sanwo-Olu, on behalf of the Federal Government at the Lagos Economic Summit 2022, held at Eko Hotel and Suites, Lagos.

According to experts, the new airport would be constructed on 3,500 hectares of land and is estimated to soon outpace other countries in West Africa to emerge as the biggest economy in the region.

The direct influence the airport will have on Lagos is that it will facilitate the construction of more hotels, increase of landed property sales or rentals, employment opportunities, and increased urban migration.

Futuristic projects in Lagos

There is currently the game changer of real estate already happening under our nose at Lekki-Epe. And one of the most notable ones is Future city. This notable project promises to be all about a smart city and the green revolution.

TechValley—The most promising First African Silicon Valley now at the heart of Future City. Isimi Lagos

The world is more conscious about environmental sustainability than ever and it’s gravitating towards the green eco-friendly planet earth.

Lagos food logistic hub

Sited on 1.2 million square metres of land is there the Lagos State Central Food Security Systems and Logistics Hub in Ketu-Ereyun, Epe. This hub will connect farmers in Lagos, the South West and other parts of the country to a direct market to sell their produce at an agreed price.

According to Governor Babajide Sanwo-Olu, the State Central Food and Security Systems and Logistics Hub would create more than seven thousand jobs and solve the food problem of over five million people.

In recent global events, which include climate change and the war in Ukraine, there have been clear indications of the vulnerability of food security systems. And this is one of the laudable solutions the Lagos State Government has put in place to cushion these effects strategically.

The positive impact of this groundbreaking project is that it would drive infrastructural development in Epe as it would welcome more people and economic opportunities. it will also attract complementary development: housing estates, financial institutions, business enterprises, and other ancillary services.

Best Lagos Tertiary institution sites

One of the best primary and secondary schools you can find around is already situated at Lekki. Notwithstanding the tuition fee of these schools which is highly competitive, you can rest assured that your child’s education will be to par excellent.

Alongside this grandstanding educational development, we’ve started witnessing high-standard tertiary institutions already springing up.

When quality tertiary schools like this are becoming more accessible to the community, it promotes the development of more residential housing schemes, more urban migration and a transactional society.

Lagos free trade zone and the treasures it brings along

The Lagos free trade zone is managed by various operators to serve as a premier distribution hub in Africa. This is a multibillion-dollar project that is already in its completion stage.

This outstanding project development will not just improve international trade alone it will also spark another industrial revolution and attract more foreign investors in Lagos as we have started witnessing at Lekki-Epe which is where the free trade zone is situated at.

Currently, there are many local and international companies already moving to this location. Some of these notable industries include

The fertiliser production plant that got commissioned in the Lekki Free Trade Zone on May 3, 2022. It will produce 3 million tonnes of fertiliser a year. There is a huge opportunity for Nigeria in this market since Russian fertiliser is refrained from coming onto the world market due to the Ukraine-Russia conflict in 2022.

In 2018, a former Mercedes manager for the Nigerian branch, Oluwatobi Ajayi founded Nord Automobiles Ltd in the Sangotedo area, a locality within the peninsular of Lekki Lagos. Nord has two assembly plants in Lagos: a 2,100 m2 plant in Sangotedo, where all eight models are currently assembled; the second 5,400 m2 plant in Epe is still under construction. Once completed, the assembly of the models will be moved to the new plant, while component manufacturing will take place in Sangotedo. The company currently manufactures its own plastic parts and plans to add steel stamping in the future.
Top realtor experts on their best winning strategy

From what point can you key into these developments?

First, always have in mind that location will often matter. In Nigeria for instance, Lagos and Abuja have always been highly competitive. Your next bus stop is to engage a real estate consultant as good as Boiphin Projects (as seen on WhatsApp Business). Boiphin Projects has always been at the forefront of bringing modern cities closer to homeowners, the working class, tourists, foreign investors and diaspora communities across the globe.


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