Ambode approves N740m compensation for LFTZ host communities

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The Lagos State governor, Mr. Akinwunmi Ambode has approved the first tranche of N740, 461, 432.00 as compensation for host communities of the Lekki Free Trade Zone (LFTZ).

The State’s Commissioner for Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye, who announced this at a press briefing in Alausa, Ikeja said the beneficiary communities are those of Parcel B comprising Yegunda, Abomiti and International Airport site of the LFTZ.

He said the development was in line with the government’s effort to engender a sustainable cordial relationship between the host communities and investors in the LFTZ.

The commissioner said modalities were being worked out to ensure hitch-free payment of the approved sum.

Ogunleye, who was flanked by the Special Adviser to the Governor on Commerce, Mr. Benjamin Olabinjo; Commissioner for Local Government and Community Affairs, Mr. Muslim Folami; the Managing Director of Lekki Worldwide Investments Limited, Dr. Tunde Sodade, said since the present administration came on board, the governor “has holistically addressed the salient needs to compensate the host communities.”

Ogunleye said the compensation was a continuous process, adding that N65 million was paid early in the year to land owners affected by the ongoing Dangote projects which include petrochemical plant, gas project, fertilizer and a refinery capable of refining 650, 000 barrels of oil per day.

Prior to the present time, the commissioner said the host communities of the 3,000 hectares of land housing the LFTZ Development Agency, a company jointly owned by the State government and a consortium of Chinese investors were compensated.

He added that more land owners would be compensated in due course at the end of verification and valuation exercise.

The commissioner further stated that government had continued to engage the host communities since the LFTZ project started in 2004, Ogunleye adding that the engagement principally centred on the need for the communities to recognize the multiplier effects of the project in terms of employment generation and the value to be added to the socio-economic lives of the people.

 

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