Alaro City has highlighted opportunities in free trade zones for domestic and foreign investors that could be tapped for growth and development.
According to a statement by the firm, the city, which is located within the Northwest Quadrant of the Lekki Free Zone in Lagos, is a joint venture between the Lagos State government and Rendeavour, whose mixed-income cities provide homes, offices, industrial areas, schools and hospitals.
It stated, “It is a self-sustaining city furnished with industrial grade standard roads, including an 8-lane, 60-meter-wide Boulevard, which is one of the largest privately owned roads in Africa.”
The road, according to the Managing Director of Alaro City, Yomi Ademola, would be delivered in October this year.
At an interactive session with journalists in Lagos, he highlighted the benefits and opportunities that investors who had taken positions in the city enjoy, which were also available to prospective investors because of being located in the free trade zone.
According to Ademola, the city is marked by superior infrastructure, which includes 6km of completed roads, 100 MVA scalable power supply, scalable gas distribution, industrial and potable water supply, sewage treatment, high-speed fibre information communication technology, and city management services.
He disclosed that the city’s power supply comes from its privately owned independent power plant.
He added that the city’s proximity to Dangote Refinery, the Lekki Deep Seaport, the airport, and well-integrated road infrastructure, were part of the business growth enablers in the free zone.
According to Ademola, Lekki Port is a preferred destination for the shipping business, because it berths much larger ships than Apapa and the congestion, which was a byword for Apapa, is largely controlled in Lekki Port.
“Lekki Port has a call-up system that is working already; the port has an automated system; that ensures that no truck is parked along the road and, of course, no vehicle is seen around the port area if it has no business there,” Ademola pointed out.
The construction of the Regional Road and the Fourth Mainland Bridge by the Lagos State government would complement and check possible gridlock on the Lekki Epe Expressway, he stated.
“Alaro City has been deliberate in its efforts to provide an enabling environment for businesses. Critical road infrastructure investments within the city and connections to the Lekki Expressway and Deep Sea Port allow businesses to optimise manufacturing and foster trade with partners across Nigeria and around the world,” Ademola emphasised.