From Emeka Anuforo, Abuja
WORK is set to commence on the largest port in Nigeria. The port, to be situated in Lagos, will largely service the Lagos Free Trade Zone and the Lekki Free Zone, which have yearned for a port to make their operations a success.

The port is a deep ship port measuring about 16, 18 meters draft and would have the capacity to accommodate the biggest ship in the world. Apapa port is only 11 meters draft.

Executive Director of Viva Methanol Lagos Free Trade Zone enterprise, Mr. John Mastoroudes told visiting journalists on Wednesday that his company was committing $2 billion into the project, while other investors would bring in different levels of support.

He disclosed that about eight foreign company and one Nigerian company had submitted bids for the construction of the port. Work, he said, would commence on the port next January.

The Nigerian Ports Authority has a 28 per cent stake in the project, which will be able to take the biggest ship in the world.

Mastoroudes said, "our group alone is putting in about $2 billion dollars excluding what other investors are brining in to support the project. The port will take three years to complete. Nine firms have bidded for the port. We are currently analysing their bids.

"Let me point out that we have a long list of investors waiting to come in and invest in the free zones in Nigeria. Infrastructure has been the greatest challenge for all of us. I am optimistic that once they see how serious we are about making the port project a reality, they will flood Nigeria."

Meanwhile, the Nigeria Export Processing Zones Authority (NEPZA) has tasked investors, who have secured licenses to operate free zones Nigeria to look beyond government and source for investors to commit money to tackling some of the infrastructure challenges in the zones.

General Manager at the agency, Mr. Chris Ndibe stressed that all over the world, investors do not necessarily wait for government to provide some of the infrastructure required at the zones.

Ndibe, who spoke when he led a team of journalists to the Lekki Free Zone, Ibeju Lekki, stressed that the operators of the zones should lure world class investors who would be willing to provide the infrastructures required through some kind of build, operate and transfer.

"Several factors are responsible for the adoption of Free Zones Scheme in Nigeria, amongst which are the diversifications of the revenue base of the economy, employment generation and to encourage export through local production. The enabling act also confers on the authority the power to approve and grant all licenses and permits to the exclusion of all other agencies enforce obedience and compliance to rules and regulations.

In effect, the act is an omnibus law, which permits the Authority and its Board the power to define the policy directions and provide a one-stop-shop business transaction without bureaucracy," he said.

Deputy Managing Director of the Lekki Free Zone Development Company, Mr. Adeyemo Thompson stressed that the company would develop an offshore economic growth zone, attract foreign investments, promote export, create job opportunities, minimise capital flight and establish a one step global business haven.

He said, "we hope to do this by engaging directly in the economic development of Nigeria by providing a choice for investors in the most conducive free zone business environment that will be recognised for setting standards of excellence."

Good One.

Any project that will generate employment opportunities for Nigerians is wonderful

Okay nice one but hope it would not b another white elephant projet.

na im be say price of property even reach epe go skyrocket be that.