Lagos State’s N49 Billion Medical Park Ready Soon

Lagos State Government has said the proposed medical park that will cost a consortium of investors from the United States of America, about N49 billion will be completed within the next 20 months in Ikoyi area of the state.

Governor Akinwunmi Ambode
Governor Akinwunmi Ambode

The Special Adviser to the Lagos State governor on Overseas Affairs and Investment, Dr Ademola Abass, who disclosed this to journalists, said a total of 139 investment proposals had been received since the creation of the Office of Overseas Affairs and Investment, last year.

He added that the investment proposals totaling $34 billion currently receiving the consideration of Lagos State Government cut across sectors of the economy, including infrastructure, environment, health, manufacturing, real estate and transportation.

Abass said a proposal to manufacture pencils has been approved by the state executive council and land already allocated for the factory in Epe.

“Since inception of this administration, investors have shown considerable interest in tapping into the investment opportunities in Lagos, and so far, we have received investment propositions approximately worth $43 billion

“The state government has approved a good number of investment proposals out of the 139 that are at various stages of consideration at the Office of Overseas Affairs and Investment,” said Abass.

He said critical sectors with huge potential had been identified and scanned which investors can take advantage of. These include transportation, tourism, health, power, agriculture and housing.

Abass explained that within transportation sector, investors were expected take up construction and maintenance of jetties and roads as well as the operation of mass transit buses and rail system.

In the power sector, he said opportunity existed for the generation least 9,000 MW of electricity, while in tourism, investors stand to reap from protection and preservation of beaches, convention centers, hotels and motels, casinos, holiday resorts, amusement and parks.

He also pointed to opportunities in modern abattoirs, agro processing for export, storage facilities, dairy farming, livestock feeds production and development of settlements in the agricultural.