Investors along the Lekki-Epe Corridor have withdrawn from the various truck parks projects due to the Lagos State Government’s inability to implement investment policies.
It was 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 itself and other stakeholders in that axis.
Speaking on the development, Hon. Lanre Ope, Managing Director, Tal Concept, one of the major investors in truck parking facility in the Lekki-Epe corridor said that all the government is trying to do is avoid a repeat of the nightmare that happened in Apapa area of Lagos.
Ope also said that as Lagosian, he is working round the clock to ensure that every business owner in that axis and the Lagos State Government are on the same page moving forward.
Ope also said that investors have to right to take whatever decisions with regards to their investment adding that efforts are being made to bring everybody to the table to dialogue.
He explained that as a Lagosian, development of the state comes first while ensuring that businesses thrive.
He said: “I am from Lagos State, so head or tail, I am a stakeholder in anything that has to do with thw development of my state and when you have a problem, I will want to look at it holistically
“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 exercise patient and get all the parties involve 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 the present 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 for to be able to get to where we are going in the best interest of all of us.
“And I know that it is a matter of time, and I have also reach out to some people in government to let them know the need for them to very forthcoming on the matter and I am sure very soon we will get over the problem. It is not possible for anybody to accept N2,500, if they do not want to pay N12,500, we will seat down and negotiate it. So, everything has to be dialogued.
“Very soon, the engagement with Lagos Government will happen because we are trying to reach out to them, and I also want to appeal to you highlight the problem and bring them to fore so everybody can know what is going on.
“The government has a lot more to do to create the enabling environment for businesses to thrive because if this project fails, it means the government has failed too.
Similarly, 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 development umpasse 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 Centre have been lost.
He disclosed that the Lagos state approached investors in truck parks and assured them of its support and companies came and expressed interest only for them to be regretting investing the truck park business.
He explained that investors put in so much in the various parks because of the understanding they had with the government.
He said: “We have lost huge sums of money there, getting the premises ready for the intended purpose, setting office accommodation, putting lightening facilities, ICT facilities, setting up digital barriers, we have spent a lot of money we would have used for other purpose.
“God’s willing, we might have to redirect of investment for other purposes because the way it stands now, it is a sad story for everybody.”
It was gathered that Sifax, one of the truck park investors has also pulled out of the area.
