The Lagos Deep Offshore Logistics on Wednesday signed a Memorandum of Understanding with Samsung Heavy Industries to resolve a five-year land lease dispute.
It noted that the controversy led to the closure of business activities in the zone by both firms with over 3,000 jobs lost, halting of economic value chains and other losses that have stiffened free flow of revenues to government and further investments. Speaking at the event held in Abuja, the Chairman and founder of the LADOL Group, Ladi Jadesimi, expressed delight over the signing of the MoU, saying the conflict had been completely resolved as a result of the meeting.
He said, “This dispute has locked up in value investment worth over $7bn. So, the outcome is that investment worth over $7bn has been unlocked for the Nigerian economy and employment of our teeming youths is also unlocked.
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