Sanwo-Olu source $1bn for film city, fourth mainland bridge, others at Africa Investment Forum
Lagos state Governor Babajide Sanwo-Olu is at the Africa Investment Forum (AIF) in Morocco seeking for over $1 billion from private investors to fund key capital projects in the state including a film city, the fourth mainland bridge among others.
Sanwo-Olu highlighted about six projects for which Lagos is seeking private capital.
The projects include a $400-500 million film city in Epe with studios that will rival Hollywood, a fourth mainland bridge that will facilitate decongestion of Lagos as well as the second phase of the red line rail project designed to connect Lagos with neighbouring South Western state of Ogun.
The second phase of the blue line rail which will connect Mile 2 to Okokomaiko in Lagos and the Lekki deep sea port is also among the projects pitched to investors. The Lekki Deep Sea Port, which is already operational but still partly under construction, is a multi-purpose, deep sea port in the Lagos Free Zone and is the largest seaport in Nigeria.
The Lagos state governor also pitched for funding for an ambitious new airport that will serve not only the state but the entire West African region.
Sanwo-Olu, who was at the AfriCaribbean trade and investment forum in Guyana late last month, signed a $1.35 billion infrastructure facility and food security deal on behalf of Lagos with the African Export-Import Bank (Afreximbank).
He said the feedback from investors at the AIF has been pleasing and a number of deals will be inked without giving specific details.
