The much talked about Lagos Dream got a major boost on Thursday, April 12, 2018, when the foundation of the Badagry N53billion business city was laid. Debuting with the first phase, an N18billion shopping complex, christened the Oba Akran International Shopping Mall, the managers of the project said the vision, when completed, will translate the lush vegetation along Lagos-Badagry-Seme-Cotonou International Express-road to what they described as ‘Lagos Dubai.’
To be constructed on 93-acres of land, the project, which is expected to be completed in the next 24 months from commencement, is being handled by PALMNTO Nigeria Limited, a consortium of investors and developers in conjunction with the Badagry Royal House and other investors.
The land breaking and foundation laying ceremony, supervised by De Wheno Aholu Menu-Toyi 1, the Akran of Badagry Kingdom, array of other numerous traditional royal fathers, top government officials and a teeming population of investors, was brief but thrilling as the speeches on investment were laced with rich traditional dances.
The core stakeholders said the vision is to transform Badagry to an international trading and tourist centre in the mode of Dubai.
In line with this spirit, Setonji David, representing Badagry Constituency 2 at the Lagos State House of Assembly, was business-like when he reached out without airs, plastered the two blocks together and quickly unveiled the foundation stone. Time was 2pm, Thursday April 12, 2018. Simple as his assignment was that afternoon, observers said the ceremony has flagged off a new chapter in the economic history of both Badagry and Lagos State.
The Oba Akran explained the vision and revealed how the idea was born: “The desire to have a legacy which will serve to immortalise my name and of course immortalise the historic royal institution of Badagry, has, for a very long time, been nursed by me.
“At a point in time, I remembered the 93-acre family land on which we are today, and thus, came to the conclusion that such a parcel of land could be used to provide the legacy of my dream. Thereafter, effective machinery was set up to produce technical, legal and financial partners and in the process, PALMNTO Nigeria Limited emerged.
Top officials of Palmnto, the consortium handling the project, also told The Nation why they are enthusiastic the project will be a great success. The Managing Director, Kalu O. Okorafor, said “For over two years now, the company has been trying to put things together in order to kick-start the project. Along the line, our consultants have given us tremendous support and advice, which enabled us to weather the storm of business space.”
He expressed appreciation to bodies like Amalgamated Traders Association of Lagos (ATAL), Association of Bureaux de Change Operators of Nigeria (ABCON), National Union of Banks, Insurance and Other Financial Institutions Employees (NUBIFIE), which he said have been critical to the development of the project, assuring them that their confidence and support in the project would not be in vain.
“The scope of Oba Akran International Shopping Mall is big. We call on investors to partner with us for early realisation of the project. We assure you that profit-wise, we are for a win-win situation for the stakeholders,” he added.
On what the project would be made up of, Okoroafor said, “for the first phase, which will cost N18billion, the building structures consists of lock-up shops, plazas and offices, warehouses, banking halls, police posts, clinics, fire stations and so on, while the second phase is estimated to cost N54billion. The amount would be expended in the construction of a five-star hotel, schools and housing estates.
“Outside the main structures is to be accompanied with well-planned road networks, paved walkways, external electrification, water supply with treatment plants, refuse disposal system, Close Circuit Television (CCTV) camera system, car parking lots amongst others.”
He added: “The facilities that would be provided here in the mall are of world class standard. The environment is serene, aesthetically pleasing with laid-out landscapes.”
Jide Adefesowa, a lawyer and director of the outfit, introduced a spiritual dimension while explaining to The Nation how the project was initiated: “First of all, I have to appreciate the Almighty God, because it is through the Almighty God that I came here. It is the intervention of God that brought me here today. Why I say this is that it was through my pastor, Pastor Amos Ade, of the Christian Revival Centre, who said that I should tap into the virgin land of Badagry; that I should put my investment in Badagry Kingdom. Then I told him that I didn’t understand. He told me that I will be part of the people that will develop Badagry. It was through that that I met Architect Okorafor,” he said adding that from that meeting, a partnership was struck.
”What I can tell you is that the opportunities are limitless. It is massive and it cannot be quantified. In the coming years, you will be a witness to the massive transformation that will take place in this place. Everybody is committed and there is already massive interest by all the stakeholders and the target market.
“The project is not going to be for the people outside alone. It is going to benefit the people of Badagry in a lot of ways. Not only will there be investors coming from this place, many of them are going to be employed. We are close to the ports through which goods and services could be ferried to any part of the country. They are key to this, given their already established talents and way of life. So, they are going to benefit massively. That also goes for the people in neighbouring countries. Investment is not restricted. There will be investments from all over the world; from America, UK, Asia and other parts of the world. Everybody is welcome. The space is large enough for everybody.
Confirming this belief, Okorafor, told The Nation that citing of the project in its present location, was not only going to create another world for Badagry and its people, but would help to open up the space for business in Nigeria, especially with the several investment initiatives of the Lagos State Government.
”You are aware that within Badagry here, drilling of oil is already going on. You are also aware of the deep sea port, which the government is pursuing. The governor has already signed some documents. Don’t forget the 10-lane expressway that passes through here. With the BRT, with the train and other easy transport services, you are in Badagry in 30minutes. So, there is a tendency that in the next seven or 10 years, you may not find a space anymore here with the massive development that is expected.
Emphasising that the first phase was envisaged to be completed in two years, with an additional six months grace period, he said the thinking is that the shopping mall and the over 10,000 lock-up shops, plazas and storage facilities, that consisted of the first phase, was all that would be needed to ensure the massive activities that would lead to the influx of people, which in turn, would then make the second phase quite attractive.
“What we are thinking is not the usual thing you see around. If you see our architectural designs, you will understand. We want to change the face of what you already know and surpass it. It is not going to be like any other market. I don’t want to mention names. What we are looking at is market. We are looking at maximum comfort for anybody that comes here to do business or for whatever reason. If we had wanted to build the usual thing, we would have finished it in the next six months. But we are thinking outside the box and looking at something bigger, because of the type of business that is expected and the type of people we also expect, which includes those that are used to maximum comfort and ease of doing business elsewhere.