Lekki-Epe corridor truck parks face setback as investors withdraw
Stakeholders on the Lekki-Epe port corridor have withdrawn from the various truck parks projects due to the Lagos State Government’s inability to implement investment policies.
Vanguard gathered that a lot of investors are redirecting their investments away from the Lekki-Epe corridor because they have lost monies due to the government inability to coordinate its activities and other stakeholders in that axis.
Speaking on the development, Lanre Ope, Managing Director, Tal Concept, one of the major investors in truck parking facility in the corridor said that all the government is trying to do is avoid a repeat of the nightmare that happened in Apapa area of Lagos.
He added that investors have the right to take whatever decisions with regards to their investments adding, however, that efforts are being made to bring everybody to the table to dialogue.
Ope stated: “From the angle of Lagos State government, and the interest of government you saw what happened in Apapa, we are not going to open our eyes and allow a similar thing to happen in Lekki-Epe axis.
“For me, that is a concern as a Lagosian, while others are considering pulling out their investments, I have to be patient and get all the parties involved to do what we need to do for all of us to be on same page.
“Because this is part of the development effort of Babajide Sanwo-Olu’s administration, so it is about Lagos for me and at the same time, it is about business. Having invested so much on that project and when you consider what the Banks are charging as rates, investors are not smiling.
“So, I sympathize with my colleagues who are truck park owners, they are right to take any decision they want to take but I can only appeal to them for us to continue to engage every other stakeholder to be able to get to where we are going in the best interest of all of us. “I know that it is a matter of time, and I have also reached out to some people in government to let them know the need for them to be forthcoming on the matter and I am sure very soon we will get over the problem”.
Another truck park investor, Mr. Tunji Baale, Managing Director, Diamond Star Limited, Operators of the Diamond Star Export Processing Terminal at LilyPond in Apapa said that his Company has redirected its investment to other areas.
Baale also disclosed that the current discord between the truckers and other stakeholders has led to huge loss of investment in office accommodation, residential, electronic barriers, setting up of Information Communication Technology (ICT) centre among others. He explained that investors have put in so much in the various parks because of the understanding they had with the government.
