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LASG Pushes Fresh Investments, Approves Waterfront Schemes

May 15, 2024
in Business News
LASG Pushes Fresh Investments, Approves Waterfront Schemes
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In a bid to push Lagos Gross Domestic Product (GDP) up, the Lagos state Government has approved establishment of four additional Islands to attract investments to the state.

The state government noted that the Islands were approved after a thorough review of both economic benefits and ecological impacts of reclaiming shorelines across Lagos.

The Commissioner for Waterfront Infrastructure Development, Yacoob Ekundayo Alebiosu, disclosed this on Friday in Alausa, Ikeja while presenting the ministry’s scorecard since assuming office, to commemorate the first year of the second term in office of Mr Babajide Sanwo-Olu.

Aside the four which include Aishasul Island, the state government disclosed that proposals have been received from four investors, seeking to set up Islands to make the state preferred destination for investors.

“The following under listed proposed Islands/Estates have also been approved by Mr Governor for reclamation work. However the proponents are still perfecting their documentation and payments.
Aishasul island, Xavier properties limited, Cowrie shore and Palava yard

While considering the proposals from the investors, the state government promised to continuously strengthen its regulations towards preventing any ecological impact on Lagos waterfront.

To assist the investors connect their Islands, the Alebiosu disclosed that the governor has approved construction of 13 new jetties to aid water transportation in the state.

The Commissioner also revealed that the new Jetties are additions to the seven Jetties commissioned and handed over to Lagos State Waterways (LASWA) this time last year by the Governor.

He further disclosed that the jetties will open up more reclamation opportunities for the creation of waterfront schemes and improve connectivity in the coastal areas.

He noted that the jetties would aid inspection of existing schemes and prevented creation of slums, ensure eco-friendly and beautify waterfront schemes and restored sanctity to the Lagos master plan.

“Illegal reclamation works/shoreline extensions, unsafe and non-conforming developments were sanctioned during the period under review while Stop Work Orders were issued with six arrests made and the perpetrators handed over for prosecution according to extant law.

“The Ministry also continuously engages in effective inspection of various Waterfront activities in order to ensure total compliance of enforcement with State Government Waterfront laws. This is to achieve sustainable management and development of State Waterfronts and the resources therein.

“Following non-compliance with the stipulated laws and guidelines of the Lagos State Ministry of Waterfront Infrastructure Development, Stop Work Order were issued to illegal operators across all the State waterfronts by the Ministry.

“Compliance Enforcement exercise was also carried out on illegal dredging/reclamation/shoreline extension at Banana Island by a team of officers from the Ministry in conjunction with the Marine police.

“Consequently three locally fabricated dredging machines operating without obtaining due permit had their machines and badges confiscated.

“Aside from that, six members of the illegal operators were apprehended, sanctioned and prosecuted at State Mobile Court, Bolade Oshodi in accordance with the stipulations in Lagos State Ministry of Waterfront Infrastructure Law 2009 to serve as deterrent to others.

“The Ministry also clamped down an illegal jetty operations at Ijegun Egba axis, the operators were ordered to down tools and vacate the vicinity.

“Monitoring visit was also paid to Grace field reclaimed sites at end of Chevron Drive, Lekki to look into issues of mutual concerns regarding Gracefield Island and Ojomu family bordering on contravention of stipulated provisions and regulations.

“The Ministry issued a Stop Work Order to the developers on the Island for failure to obtain and abide with all regulatory requirements.”
Alebiosu at the briefing also spoke on Eko Atlantic “A Land Concession Agreement was executed between the Lagos State Government and South Energyx Nig. Ltd in Year 2006 to provide a permanent solution to the Lagos Bar Beach Shoreline erosion in Victoria Island under Public – Private Partnership arrangement.

“The development of the Eko Atlantic City Project was incorporated into this agreement which is the reclamation and provision of Infrastructure on approximately 843.999 Hectares of land and the construction of 8.5km defense wall which is known as the Great Wall of Lagos at approximately 8.5 meters above Sea level.

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