AFRICA'S 1st SMART CITY - IBEJU-LEKKI, LAGOS STATE

Why is Everyone talking about Ibeju-Lekki?

Where is this Ibeju-Lekki?

Ibeju Lekki is a local government area in the Epe Division of Lagos State, Nigeria. The administrative Centre is Akodo. Ibeju Lekki is also known as the New Lagos because 95% of the development that is coming to Lagos is all going to Ibeju Lekki.

Why is Ibeju-Lekki different?

The Lagos State Government and the City of Dubai on Monday entered into a historic partnership that will see Lagos emerge as the first Smart City in Africa. The Memorandum of Understanding (MOU) for the Lagos Smart City was signed at the Emirate Towers, Dubai by the Lagos State Attorney General and Commissioner of Justice, Mr. Adeniji Kazeem and the Chief Executive Officer of Smart City Dubai LLC, Mr. Jabber Bin Hafez. The signing of the MOU, which would make Lagos the home of the very first Smart City in Africa, was witnessed by the Chairman of Dubai Holdings, His Excellency, Ahmad Bin Byat who is also the Deputy Prime Minister and the Lagos State Governor, Mr. Akinwunmi Ambode.

What is a Smart City?

A Smart City is a growing concept that draws from the success of Dubai’s innovative knowledge-based industry clusters to empower business growth for companies and knowledge workers all over the world.

How is the Lagos State Government Involved?

Governor Ambode in a statement signed on Tuesday by the State Commissioner for Information and Strategy, Mr. Steve Ayorinde, said that the Smart City (Lagos) is expected to bring multi-billion dollars investments to the State, create thousands of jobs and transform the Ibeju-Lekki axis in particular and the entire Lagos State in general. “This is a deliberate attempt by us to establish a strong convergence between technology, economic development and governance. “The MOU is between Lagos State Government and Dubai Holdings, LLC, owners of Smart City (Dubai) to develop a sustainable, smart, globally connected knowledge-based communities that drive knowledge economy,” Governor Ambode said. The Governor stated that the collaboration is part of the larger vision to make Lagos safer, cleaner and more prosperous. He said: “A Smart-City Lagos will be the pride of all Lagosians just as we have Smart City Dubai, Smart-City Malta and Smart-City Kochi (India). We are encouraged by the fact that we do not, as a government, need to develop at a slow pace, but take full advantage of the digital age and fast track development of Lagos to a real megalopolis that we can all be proud of.

The following Projects are ongoing at Ibeju-Lekki

Dangote Multi-Billion Dollar Refinery:

Dangote Refinery is the largest undertaking in Nigeria, which is meant to refine 650,000 barrels of oil per day. By all projections, it is the largest in the Africa. The refinery will start producing in the first quarter of 2019.  The subsea pipeline is expected to take off in 2018. It is a very important aspect of the project. It will boost our power supply tremendously. According to Dangote, that is one of the most important projects that could be done in this country. It will be a major boost for industries. Notwithstanding the presence of other companies in the area, such as; Raffle Oil LFTZ Enterprises, Obat Oil, Progress Marine Limited, a shipping company that has also bought hundreds of hectares of land in the area for its tank farm development, Eko Resort  and a few others. As a result of this multi-billion naira investment in this zone the prices of land in the areas surrounding the Lekki Free Trade Zone have gone up by over 900%

Lekki Free Trade Zone(LFTZ):

The Master Plan of Lekki Free Trade covers a total area of about 30 square km with 27 square km for urban construction purposes, which would accommodate a total resident population of 120,000. The Lekki Free Zone will be built to be a satellite city to Lagos with the dynamic commerce and trade, the modern industrial sectors, and also an eco-city for residents. According to
the Master Plan, Lekki FTZ will be developed and turned into a new modern city with integration of industries, commerce & business, real estate development, warehousing, logistics, tourism & entertainment etc

Lekki Deep Seaport:

A multi-purpose, Deep Sea Port at the heart of the Lagos Free Trade Zone, Lekki Port will be one of the most modern ports, supporting the burgeoning trade across Nigeria and the entire West African region.
Mr. Ascoani disclosed that the Lekki Deep Seaport would be the
deepest seaport in West Africa and second in Africa after South
Africa deep port, adding that the port would drive Nigeria’s
economy, create more jobs and attract investment worth over
$25B [Twenty five Billion Dollars]; Lekki Port is a project that will
have a positive, direct and catalytic impact on the Nigerian
economy.

Lekki-Epe International Airport:

The state government has commenced works on the development of the Lekki-Epe International Airport to complement activities at the zone and also provide alternative air transport services in the state. The State Government has successfully obtained the site approval for the airport from the Federal Ministry of Aviation and has also completed the master plan of the 3,500 hectares of land earmarked for the project. “The Lekki-Epe International Airport is designed to handle about five million passengers annually with provision for a modular terminal for future expansion. Preliminary works on the airport project have commenced with the clearing of 150 hectares (runway), 4.5 km of the access road and 9 km of perimeter road.

Pan Atlantic University (Ibeju Lekki):

Pan-Atlantic University is a private, non-profit educational institution in Lagos, Nigeria. The university had its origin as the Lagos Business School (LBS), established in 1991. The federal government approved the university as Pan-African University in 2002, and the LBS became its first school. In May 2013 its name was changed to Pan-Atlantic University, in order to avoid confusion with the Pan-African University of the African Union.[1] The Ajah Campus was completed in 2003 and in 2010 work began on the Ibeju-Lekki campus.

Lakowe Lakes Golf and Country Estate:

Lakowe Lakes Golf and Country Estate is an exclusive 308-hectare residential
development set within a scenic countryside around an 18-hole world-class golf course. The estate provides premium plots to house residences – detached and town homes, and corporate lodges. It will include requisite amenities, such as a clubhouse, halfway house, golf academy, and recreation center amongst others, all complete with first class infrastructure. Additionally, the estate offers an array of lakes, of which the spectacular 55- hectare man-made lake is the main feature. So considering all the amenities and attractions that Ibeju-Lekki has to offer, a property in this region may be the best option for those looking for properties in Lagos. This city is going to be the fastest growing centre in Nigeria and it is predicted to Increase its population by ten(10x) in the next few years, Looking at how fast this city is growing, Ibeju-Lekki is the best place for anyone who want to invest in property that will bring the highest return on investment.

Check out my next post on the various estate plots available.