May 12, 2006/ThisDay

Governor Bola Tinubu of Lagos State yesterday performed the ground breaking ceremony of the N2bn worth Lekki free trade zone with a promise to create 300,000 new jobs in the state.

The project is a joint venture between the state government and a consortium of Chinese businessmen.

The governor who spoke at the epoch making ceremony held at the open ground in Lekki ,added that the project would also ensure that the country export experiences a phenomenal growth which would translate to improve living standard.

He expressed the belief of the state government in that the state possesses the natural and human resource potential which if properly harnessed could drive the state to attain the status of the much desired  Asian tigers.

Tinubu likened the creation of export free trade zones to one of the most effective strategies for transforming a country like Nigeria from the third to the first world.

Tinubu expressed deep appreciation to President Olusegun Obasanjo for his patriotism in placing the economic interest of Lagos State, and indeed Nigeria above all other considerations in taking the decision to approve the project.

He appreciated the new efforts to forge a new positive partnership between the Federal and Lagos State Governments in the overall interest of the nation.

He assured the land owners in the area that reasonable compensation would be determined and paid to all land owners with genuine claims whose land might have been acquired for the export free trade zone.

In addition, Tinubu informed that a resettlement programme will be developed to ensure suitable accommodation for all displaced persons in the affected communities.

He added that a representative of the community will also be appointed as a member of the board of the company that would manage the project while indigenes of the area would also enjoy favourable consideration for employment.

He pledged the resolve of the present administration in the state to ensure the success of the project as an enduring legacy for the benefit of the present and future generations. In his remarks at the occasion, President Olusegun Obasanjo assured Nigerians that the country is on the path of economic recovery which he said is achieving the desired result. President Obasanjo who spoke through the Minister of Commerce Ambassador Idris Waziri said with the right atmosphere, the chances of Nigeria becoming one of the leading 20 economies in the world are very bright.

The minister, who stood in for the President at the ceremony informed that his administration’s economic policies are attracting foreign investors into Nigeria.

The president explained that adequate seriousness must be applied to the economic reforms if the tempo already attained in recovery must be maintained.

He lamented that Nigeria, which was on the 49th position on the world economic map in 1979 had slide to 199th position on the economic ladder in 1999, urging Nigerians to join the crusade and adopt the “Operation 20-20-20” slogan.

According to him, the interest shown by a consortium of Chinese investors in the Lekki FTZ, was indicative of  international acceptability  of Nigeria as a safe haven for investments, pointing out that his trip to the Peoples Republic of China last year and the recent visit of the Chinese President, Mr. Hu Jintao to Nigeria were no flukes.