JOIN DANGOTE , NIGERIA AND THE WORLD IN INVESTING IN IBEJU LEKKI!
Ibeju-Lekki is where you have the Lekki Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, International (Cargo) Airport, Lekki International Golf Course, Pan Atlantic University, Eleganza Industries and so on. That is why it is touted as the ideal investment destination for property investors.
Now, where exactly is Ibeju-Lekki?
To answer this question, I will explain Ibeju-Lekki under three broad locations with regard to the ongoing key projects there. These include the Free Trade Zone axis; the Elerangbe axis, and the Lekki-Epe Expressway axis (see various maps on the different sections).
FREE TRADE ZONE AXIS
This is the most commercial of the three locations and stretches from Eleko Beach Road through the Free Trade Zone Road to La Campagne Tropicana Resort and beyond. It hosts the Free Trade Zone, Lekki Deed Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant and other businesses.
The Lekki Free Zone is designed to be a satellite city to Lagos with dynamic commerce, trade and modern industrial sectors with an eco-city for residents.
The Master Plan covers a total area of about 30 square kilometres with 27 square kilometres for urban construction purposes. This will accommodate a total resident population of 120,000.
The zone is divided into four phases. The first phase, which is under construction will feature the Central Business District, residential areas, industrial parks, logistics and warehouses and will be fully ready in 10 to 12 years’ time.
The Free Trade Zone Axis, today, can be described as a developing area with a major tarred road and few functioning industries. Viewing it from a property investment perspective, we would limit the area to the Eleko Beach Road through the Free Trade Zone Road to La Campagne Tropicana Resort. But this description is extremely limited because this axis is the proposed site for many major commercial and industrial businesses. The Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry and Dangote Fertilizer Plant are some of the identified public and private concerns that will berth here.
Opposite the Free Trade Zone Phase 1 is the Lekki Deep Seaport designed to handle about 6 million Twenty-foot Equivalent Units (TEUs) of containers and create an estimated 169, 000 jobs directly and indirectly. Work is in progress here, and the projection is that it may be in operation in 2019.
About 4 minutes’ drive from the Free Trade Zone is the Dangote Refinery and Petrochemical Industry. This is an on-going $14 billion project by Dangote Group, which will have the capacity to refine 650,000 barrels of crude oil per day when completed in the coming years. Apart from petrol, other petrochemical products such as polyethylene and polypropylene will be produced here. This may be the plant where up to 90% of Nigeria’s petrol will be produced.
To underline its importance, the Central Bank Governor, Mr Godwin Emefiele, visited the site and promised to support the forex needs of the project. “We are doing this to fast-track the importation of equipment you need for a speedy completion of that project and to encourage other Nigerians to follow your lead,”
Another 4 minutes’ drive from the refinery is the Fertilizer Plant, while another 15 kilometers from the plant is located the La Campagne Tropicana Beach Resort.
With such large commercial concerns in the offing, the consensus among real estate practitioners is that property in the axis will enjoy high capital appreciation as a knock on effect of the investments. Accordingly, land in this axis is significantly more expensive than in Elerangbe.
THE ELERANGBE AXIS
This is where you find the cheapest plots of land in Ibeju-Lekki presently, and is mostly a residential location. This axis comprises of places like Okego Village, Tagbati all the way to Arapagi. Elerangbe is off Lekki-Epe Expressway to the left, after Eleko Junction. The key infrastructure expect.