Ibeju-Lekki Is Different.

By: Ikenna Nwosu 

No one knows exactly when the 4th Mainland Bridge, Lekki Coastal Road or Eleranigbe-Badore Road will be ready. These are earmarked alternative roads to Lekki Epe expressway way in Lagos. The 4th mainland bridge connects Ibeju-Lekki, Epe to Ikorodu, Victoria Island, Berger,  Lagos Ibadan Express way etc. The Costal Road runs from Eleko in Ibeju-Lekki to Eko Atlantic while the Eleranigbe connects Badore/Ajah.

What many know is that investment is about projections, timing and positioning. When these business projections are linked to private funding, the feasibility chances are higher.

75% of the over USD200 Billion investment in Ibeju-Lekki is mostly private sector funding. Dangote's alone accounts for about  USD30 Billion. It's like working from the answer. Accessibility won't stop this intimidating investment armory. Not even the "Nigerian factor" can. 

The Lekki Free Trade Zone is not just sitting by the Lekki Deep Sea Port but it is on an exit route to Epe, Ijebu Ode and other parts of the over 200 million Nigerian market. There is no Free Trade Zone just across the road from the Apapa Ports which is located at the inner mainland of Lagos. 

Put all these business cherry pies with the New Lagos International Airport, then you know this "party" is getting started! Do Lagos,  a mega city of over 25 million people deserve a second International Airport? Investments attracts Investments. I will do a lot of things to sit an International Airport beside a USD 200 billion investment hub with a Deep Sea Port and Free Trade Zone. It's simply a sitting dock for any business minded individual, business or nation. 

As property investment analysts and business reporters, our real concern is the degree of wealth inclusion Ibeju-Lekki offers to the private individuals, SMEs and MSMEs. By this, we simply refer to the accessibility of the Ibeju-Lekki opportunity to as many Nigerians as possible, at home and in the diaspora, across social and economic classes. *The outcome of our analysis recommends involvement in affordable land investments in Ibeju-Lekki because every  business, recreation, education, religious and all forms of housing sits on land.*

*There is a strong cliché called "Green Refinery" being propagated by proponents of the "yeah" of Dangote refinery.*

Long and short about green refineries are fancy words like less emissions, more environmentally friendly. economic sustainability, green technology and ecological adaptability. Raven Petroleum is working on a green refinery in Texas and Eni is doing something similar in Venice.

Some experts believe Dangote should have had   renewal energy in the mix of the project. Maybe he does. Few economic egg heads add that 20 years max and Dangote refinery may not be a mainstay because of alternative energy revolution. 20 years seems a life time enough to hit equilibrium and some reasonable ROI. Considering the monster fuel subsidy in Nigeria and high cost of petrol in neighbouring countries, the revenue numbers looks good and 20 years may just be a very conservative projection. 

The good thing is that this refinery does 650,000 barrels per day, is a Green Refinery, is linked to Agric revolution with its fertilizer plant, linked to the 20 million housing deficit with its cement factory etc. It's not about petroleum but also the numerous crude products from the biggest distillation equipment recently installed at the refinery.

Climate change is real and the solution is in Climate Change Reversal government, organization, institutional, family and individual policies which we all much be responsible and accountable to. 

*We must reverse this problem we caused.*

Humans move in the direction of survival. If 1,500,000 new jobs are to be created in Ibeju-Lekki by 2023, this gives us a potential influx of 5,000,000 people, including spouses and children. There will be a sharp demand for accommodation, schools, medical care centre, market malls, small business office complex etc. 

It won't all be rosy and smooth if government at all levels, policy makers,  town planners, security agencies, business owners, the media, religious centres, the family and every Nigerian  don't rise to the occasion.

*It is our collective responsibility to make Ibeju-Lekki different.*

Written by Ikenna Nwosu 

08030529372.

21st December 2019

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