Eko Atlantic City Will Boost Economy - Ambode

Lagos — Lagos State Governor, Mr. Akinwunmi Ambode yesterday said the Eko Atlantic City (EAC) Project will boost the economy of the State and increase its internally generated revenue (IGR).

The multi-billion dollar project, sitting on over 10 million square metres, is expected to accommodate over 150,000 people who would reside there and another 250,000 who would work and commute within the city on a daily basis.

Governor Ambode, who was on tour of the project alongside members of the State Executive Council, pledged the total commitment of his administration towards the success of the project, adding that it would go a long way to facilitate the quest to grow the economic potentials of the state.

"We need to grow the economy of Lagos and this obviously is going to have multiplier effect on our IGR. We promise that we are going to grow our IGR to N30bn by 2017 and N50bn by 2018 and this project is a sure outlet in achieving that goal," Governor Ambode said.

Ambode commended the promoters of the EAC Project for their confidence in committing huge resources to the Nigerian economy, saying their investment was a positive sign that Nigeria remained the investment hub of Africa.

Earlier, the Chairman of Eko Atlantic City, Mr. Ronald Chagoury described the project as an impressive financial district which upon completion, would compare with the financial districts in Paris, France and the 5th Avenue in New York, United States.