The Nigerian Capital Development Fund (NCDF) settled preparation to spearhead a huge $150 million investment in Agonrin Sea Beach, located at Badagry West Local Council of Lagos State, while collaborating with Eternal Flame Worldwide Limited, United Kingdom (UK).
Executive Chairman of NCDF, Babatunde Oralusi, and President of EFWL, Ken Dunn, finalised discussions with the local community on the site intended for the project.
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The plan includes the building of an African Creative City, a World-Class Eco-City where culture meets innovation, as well as the establishment of a 100 megawatts (mw) renewable energy power plant utilising wind and solar technologies.
Oralusi, who described the policy of the President Bola Tinubu-led administration as one put in place to restore investors’ confidence and make Nigeria an attractive destination tourism and foreign investment.
“We require additional incentives that will attract foreign direct investment and create employment opportunities for youths.” Oralusi said.
Dunn, while highlighting the global importance of the collaboration, said: “This partnership reflects our shared commitment to delivering sustainable and energy access. Together, we aim to set a benchmark for sustainable development in Africa.”
The power plant and manufacturing facility will serve as catalyst for socio-economic development, creating jobs, boosting local enterprise and empowering communities.
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