5% of Eko Atlantic lands’ sales accrue to Lagos – Commissioner

For every plot of land sold at the Eko Atlantic City, Lagos State government gets five per cent from the amount each plot of land was sold. The Commissioner for Waterfront Infrastructure Development, Ekundayo Alebiosu, revealed this, yesterday, during the ongoing ministerial press briefing to mark the first year of the second term of the Babajide Sanwo-Olu administration.

He said: “Eko Atlantic: A land concession agreement was executed between the Lagos State government and South Energyx Nig. Limited 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 defence wall, which is known as the Great Wall of Lagos at approximately 8.5 meters above sea level.

“Lagos State government is entitled to five per cent of the sale on each plot of land on the scheme which is a source of revenue for the state government.”

The commissioner further said that the state government would strive to ensure balance between economic development, preservation of shoreline, prevention of adverse changes to the ecological system by regulating dredging and reclamation works in waterfront schemes.

According to him, the state government is setting the pace to make the state a twenty first century economy as well as attract investors while promoting a peaceful and secured environment in enhancing infrastructural development along its waterfront.

He stated that 13 jetties are under construction while others are at advance stage of completion to boost water transportation across Lagos.He noted that three locally fabricated dredging machines were confiscated by the ministry, while six persons had been arrested and prosecuted over illegal operations at water front.

Alebiosu also said among other interventions the ministry commenced the deployment of drones to capture the boundaries and adjoining details of waterfront and private sector schemes to produce images for geospatial information.