FG secures 200 hectares in Lekki Free Commerce Zone for constructing supplies hub 

The Federal Authorities has acquired 200 hectares of land throughout the Lekki Free Commerce Zone, Lagos, for a constructing supplies hub geared toward reducing housing manufacturing prices nationwide.

Minister of Housing and City Improvement, Mr Ahmed Dangiwa, disclosed the event throughout a tour of business areas throughout the Lekki and Lagos Free Zones, as reported by the Information Company of Nigeria (NAN) on Thursday.

He defined that the hub is meant to advertise native content material within the development sector, curb rising constructing materials prices, encourage home manufacturing, and help sustainable housing supply throughout the nation. Dangiwa added that comparable hubs are deliberate for every of Nigeria’s six geopolitical zones.

“The Federal Authorities has secured 200 hectares of land throughout the Lekki Free Commerce Zone, Lagos, for a constructing supplies hub to cut back housing manufacturing prices. 

“The Minister of Housing and City Improvement, Mr Ahmed Dangiwa, disclosed this throughout a tour of business areas throughout the Lekki and Lagos Free Zones,” the NANA report learn partially.  

In response to the minister, the hub will probably be supported by intermodal transport infrastructure—together with seaports, airports, railways, and roads—to make sure environment friendly operations.

He revealed that an investor has already been secured to kickstart the challenge, which is predicted to cut back reliance on imported supplies, save overseas alternate, and create jobs by way of native manufacturing.

What you must know  

In August 2024, the Federal Authorities introduced plans to ascertain constructing supplies hubs throughout Nigeria’s six geopolitical zones to spice up native manufacturing, cut back import dependence, create jobs, and help inexpensive housing nationwide.

• The 2025 price range underneath the Federal Ministry of Housing and City Improvement included provisions for these hubs.

• The selection of free commerce zones, together with the Lekki Free Commerce Zone, permits the federal government to supply incentives akin to exemptions from import duties on equipment and gear, whereas guaranteeing handy entry to infrastructure , together with seaports and main roads for environment friendly operations and distribution.

Every hub will produce roofing sheets, ceilings, tiles, and doorways, and supply important infrastructure akin to energy, water, and employee lodging. Buyers will obtain a minimal of 100 hectares and might submit their very own designs.