As President Muhammadu Buhari shuttles around the world to woo foreign investments in his avowed determination to create employment opportunities and curb crimes, the media was awash last week with shocking reports on how Lagos Deep Offshore Logistics violated the land lease agreement signed with the Nigerian Ports Authority .
Other leading national dailies and credible online platforms also published this shocking revelation on how the firm is defeating federal government’s desire of using the free zones to attract investments. By offering these waivers and incentives, the federal government expects a return which will be in the form of industrialisation of the zones to create employment opportunities and boost the Nigerian economy.
According to media reports, LADOL had in a letter dated November 22, 2013, applied to NPA to sublease 11.246 hectares out of its 121 hectares to SHIN for the Korean giant to build the yard that would generate 55,000 jobs for Nigerians, save billions of dollars from being spent outside Nigeria and make the country the West Africa hub for oil and gas engineering.
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