The Federal Government of Nigeria has secured 200 hectares of land within the Lekki Free Trade Zone in Lagos to establish a building materials hub. This initiative aims to reduce housing production costs nationwide and promote local content in the construction sector. The proposed hub aligns with President Bola Tinubu’s Renewed Hope Agenda to lower construction costs, promote local content, encourage domestic production, and enhance affordable housing delivery across the country.
The building materials hub will promote local content, curb rising costs of materials, encourage domestic production, and ensure sustainable housing delivery nationwide. By achieving these objectives, the hub is expected to play a crucial role in addressing Nigeria’s housing deficit.
The project is expected to cut Nigeria’s housing deficit by boosting local building materials production, creating jobs, and reducing foreign exchange spent on imports. Intermodal transport infrastructure, including seaport, airport, rail, and road networks, will enhance the efficiency of the hubs. The Minister of Housing and Urban Development, Ahmed Dangiwa, commended Lekki Worldwide Investments Ltd for providing a strategic site for the hub and for its contributions to the zone’s growth.
Image Courtesy: Morocco World News
