Lagos State has launched a 20-year development plan (2024-2044) to transform Ibeju-Lekki into a global urban hub, focusing on key sectors

Lagos State has officially unveiled a comprehensive 20-year development plan spanning from 2024 to 2044, with the ambitious goal of transforming the Ibeju-Lekki area into a dynamic and globally competitive urban centre.

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The newly launched plan strategically focuses on bolstering tourism, expanding housing options, enhancing agricultural practices, and driving industrial development.

These key areas are targeted to stimulate significant economic growth within the region and tangibly improve the overall quality of life for its residents.

The Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, formally announced the groundbreaking plan during the final stakeholders’ meeting. This crucial session was held at the Lekki Local Council Development Area (LCDA) Secretariat.

Dr Olumide explained that the primary objective of this final meeting was to formally ratify the provisions outlined in the newly proposed Ibeju-Lekki Model City Plan, signifying a pivotal moment in the area’s future development.

He emphasised that the 20-year plan represents a significant leap forward in the growth trajectory of Ibeju-Lekki, an area that has been strategically identified as a burgeoning economic powerhouse within Lagos State.

“The 20-year plan is designed to create a sustainable, flexible, and dynamic global community,” Dr Olumide stated. “It seeks to harness the area’s potential in agriculture, tourism, the blue economy, and marine activities.”

He further noted that the government initiated a comprehensive review of the existing Lekki Comprehensive Master Plan in response to the region’s rapid expansion and its increasing strategic importance within the state.

“This led to the development of a standalone Ibeju-Lekki Model City Plan specifically tailored to address the unique challenges and capitalise on the distinct opportunities present within the area,” he explained.

Dr Olumide highlighted that the overarching goal of the plan is to establish Ibeju-Lekki as a vibrant and thriving place where residents can seamlessly live, work, engage in leisure activities, and prosper within a secure, inclusive, and meticulously planned urban environment.

He further elaborated that the plan effectively incorporates key elements of Governor Babajide Sanwo-Olu’s T.H.E.M.E.S + Agenda, which has a core objective of positioning Lagos as a 21st-century economy.

“And this aligns with major infrastructural projects in the area, such as the Dangote Refinery and Petrochemical Plant, Lekki Free Trade Zone, Lekki Deep Seaport, and Alaro City,” Dr Olumide pointed out.

He also highlighted other transformative projects underway within the axis, including the proposed Lekki International Airport, the Green-Line Rail Project, and the ambitious Lagos-Calabar Coastal Highway.

“To fully unlock the area’s potential, the Model City Plan prioritises the provision of mass transit systems, youth empowerment initiatives, social inclusion, technology integration, and holistic community development,” Dr Olumide affirmed.

The Commissioner urged all stakeholders to actively support and contribute to the successful implementation of the plan, emphasising that it reflects the government’s overarching vision for sustainable, economically vibrant, and inclusive urban growth within Lagos State.

The Permanent Secretary of the Office of Physical Planning, Mr Oluwole Sotire, also delivered a detailed presentation on the plan.

He explained that the document was presented for final ratification following its official approval by the ministry and the successful completion of previous phases submitted by the project consultants, MOA Planners Ltd.

Mr Sotire outlined the structured process followed in developing the plan, which included an inception report, a comprehensive baseline study, a draft final plan, and a 28-day public inspection period held between February 26 and April 1, 2024, across five key locations: the Ibeju-Lekki and Lekki LCDA Secretariats, the Epe Local Government Secretariat, the LASPPPPA Headquarters, and the Ministry of Physical Planning and Urban Development.

The Chairmen of Ibeju-Lekki LCDA, Mr Abdulahi Oluwa, and Lekki LCDA, Mr Rasak Kasali, both expressed their satisfaction with the boundary delineations outlined in the plan.

They also jointly requested a one-month extension to allow for the submission of additional inputs that could further enrich the comprehensive document.

The stakeholders’ meeting witnessed significant and active participation from a diverse range of community representatives, including traditional rulers, former council chairmen, community leaders, market representatives, and other key stakeholders.

Attendees actively contributed valuable feedback and suggestions, which will be carefully considered for incorporation into the final plan to ensure it genuinely reflects the aspirations and needs of the people of Ibeju-Lekki.

A new US tariff imperils Nigeria’s $277bn in Nigeria AGOA trade, predominantly oil, highlighting the urgent need for export diversification beyond petroleum

Nigeria’s significant participation in the African Growth and Opportunity Act (AGOA) faces serious jeopardy following US President Donald Trump’s recent announcement of a newly imposed 14 per cent tariff.

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]This policy shift threatens to negate the preferential trade advantages offered by AGOA and intensifies concerns regarding Nigeria’s ongoing efforts to diversify its export base.

In an exclusive interview, Alhaji Sheriff Balogun, President of the Nigerian-American Chamber of Commerce, provided crucial insights into Nigeria’s global trade strategy and the potential ramifications of this new tariff.

Since its inception in 2000, Nigeria has exported an estimated $277 billion worth of goods to the United States under the AGOA framework.

However, Alhaji Balogun highlighted a critical imbalance: “The vast majority of this value has come from crude oil shipments. In fact, petroleum products have overwhelmingly dominated Nigeria’s AGOA exports each year – oil alone accounts for practically all of Nigeria’s exports under the programme by value.”

This over-reliance on oil signifies that for over two decades, Nigeria’s engagement with AGOA has been overwhelmingly tied to a single commodity. Non-oil exports, including agricultural and manufactured goods, have constituted only a minor fraction of the total export value.

Nigeria’s annual average AGOA exports to the US hover around $10–$12 billion. Yet, Alhaji Balogun pointed out that this average masks considerable fluctuations. During the mid-2000s oil boom, Nigeria’s exports to the US under AGOA soared, reaching over $35 billion in 2008.

However, after 2010, a decline in US demand for Nigerian crude, spurred by increased US oil production, caused Nigeria’s AGOA exports to plummet, dropping dramatically from $17.2 billion in 2009 to a mere $1.4 billion in 2015.

While exports have since rebounded somewhat, this volatility underscores Nigeria’s vulnerability due to its dependence on oil.

Alhaji Balogun explained the detrimental impact of the new 14 per cent US tariff: “A blanket 14 per cent tariff on Nigerian goods would undercut the duty-free access that AGOA currently provides.”

He elaborated that AGOA’s core benefit, allowing eligible Nigerian exports to enter the US tariff-free and gain a price advantage, would be significantly eroded.

The imposition of a 14 per cent import tax would make Nigerian products more expensive in the US market, leading to higher costs for Nigerian exporters and US importers, reduced competitiveness against tariff-free AGOA nations, and potentially lower export volumes as US buyers seek alternative suppliers.

“In essence, the 14 per cent tariff effectively nullifies much of Nigeria’s AGOA advantage, putting its exporters at a disadvantage and potentially shrinking Nigeria’s U.S.-bound exports if it remains in effect,” he summarised.

Despite the substantial overall export value, Alhaji Balogun revealed that “relatively few Nigerian companies have taken part in AGOA trade, aside from the oil sector.”

He estimated that the total number of Nigerian firms exporting to the US under AGOA since 2000 is likely less than a hundred. Alarmingly, annual participation is also exceptionally low, with roughly 20–40 Nigerian firms (excluding oil) exporting to the US via AGOA in a typical year.

This underutilisation of AGOA by Nigerian businesses highlights a significant missed opportunity for economic diversification.

Alhaji Balogun reiterated that “oil is by far the biggest beneficiary” of AGOA in Nigeria, accounting for over 95 per cent of the export value. While some non-oil sectors, such as agriculture (cocoa beans, sesame seeds, cashew nuts, shea butter), have seen modest growth, their volumes remain small compared to Nigeria’s potential.

Notably, Nigeria has failed to significantly capitalise on AGOA’s benefits for textiles and apparel, unlike several other African nations. Exports of manufactured or value-added products have also been negligible.

Comparing Nigeria’s AGOA performance to other top beneficiaries, Alhaji Balogun noted that while Nigeria’s export value has been high due to oil, other nations like South Africa and Kenya have achieved more diversified export portfolios, including manufactured goods and apparel, leading to job creation in those sectors. This comparison underscores Nigeria’s underutilisation of AGOA’s potential for industrial and export diversification.

Looking ahead, Alhaji Balogun stressed that “Nigeria has yet to truly use AGOA as a tool for diversification.” While AGOA boosted oil exports when US demand was high, it has not transformed Nigeria’s non-oil export sectors.

He acknowledged encouraging signs in agricultural exports but emphasised the need for Nigeria to scale up these efforts by improving product quality, meeting US standards, and investing in processing. With AGOA set to expire in September unless renewed, Alhaji Balogun urged Nigeria to maximise its benefits in the short term and proactively exploit any future similar programmes.

He warned that the new US tariff “blunts the incentive for firms to invest in exporting to the US,” making it crucial for the Nigerian government to intensify policies supporting non-oil exports to ensure more businesses can benefit from trade initiatives.

Governor Umo Eno has inaugurated an agriculture committee to enhance food production and security in Akwa Ibom, reducing dependence on imports

Governor Umo Eno of Akwa Ibom State has launched an eight-member agriculture committee to strengthen food production and security across the state. The initiative aims to reduce reliance on food supplies from other states and unlock the full potential of Akwa Ibom’s rich land resources.

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Despite its vast arable land, the state still depends on food imports from states such as Edo, Delta, Cross River, and Benue. To address this, the newly formed committee has been tasked with engaging smallholder farmers and agricultural stakeholders to enhance local food production and stabilise prices.

Speaking at the inauguration, Governor Eno highlighted the need for a more strategic approach to farming, particularly in the oil palm sector. He urged committee members to ensure every farmer in the state is accessible and accounted for.

 “Can you, at the press of a button, reach a farmer in Ini Local Government Area? Can you know the fish farmer in Mbo? Can we, as a state, determine our expected harvest for cassava, maize, fish, and other staples each year?” he asked.

The Governor also reiterated his broader vision of transforming Akwa Ibom into a tourism hub through various sectors, including agriculture, sports, and healthcare.

He encouraged the Commissioner for Sports to capitalise on the upcoming Niger Delta Sports Festival to establish an annual sporting event in the state.

Emphasising that the new committee would complement rather than compete with the Ministry of Agriculture, he assured that collaboration between both bodies would be key to achieving food sufficiency.

Chairman of the committee, Prof. Okon Ansa, a plant virologist and former state commissioner, acknowledged the crucial role food security plays in a nation’s strength.

He assured the Governor that the committee would work diligently to achieve its mandate and move the state towards self-sufficiency.

Other committee members include Prof. Trenchard Ibia, Dr. Etemudo Udongo, Ambassador Alphonsus Inyang, Prof. Elizabeth Ebukiba, Pastor Godwin Ukwat, the State Commissioner for Agriculture, Dr. Offiong Offiong, and the Director of Agriculture Investment, Mr. Ofonmbuk Nelson, who will serve as secretary.

While the move has been widely welcomed, analysts remain cautious about its potential impact. Similar committees have been formed in the past with little tangible success.

The true test will be in the execution—ensuring that strategies are not only developed but effectively implemented to deliver lasting agricultural transformation in Akwa Ibom.