First City Monument Bank (FCMB), on Thursday in Lagos, pledge support for the development of Eko Atlantic City, a reclamation project on the Lagos Atlantic that had reclaimed 500 million square metres.
Speaking at the project dedication ceremony by President Goodluck Jonathan, Deputy Managing Director of FCMB, Mr. Segun Odusanjo, said the bank and two others, as well as some foreign banks are supporting the project that started in 2008 financially.
His words: “Our own involvement in the project is to support the promoters of the project by giving them our support both in terms of funding and also financial advisory. For us to be supporting the project we have done our due diligence and analysis and we believe in it.
“This is a project that we strongly believe in. it is a project that we believe will have a lot of impact on both the economy of Lagos State and that of Nigeria in general. There is also the environmental positive impact”.
Speaking on the benefits of the project, Odusanjo said aside the positive environmental impact, the project has the capacity to provide employment to a sizeable number of Nigerians and It will boost the tourism potential of Lagos State and Nigeria.
Lagos State Governor, Babatunde Fashola, in his address said the reclamation project is a significant victory over nature as it has taking back the land that was taken by nature from years of ocean surge.
Eko Atlantic City, a new city designed to provide the space and infrastructure to house 250,000 people and become the workplace for s further 150,000 in Lagos, has achieved a major development milestone with the reclamation of 500 million square metres of land, which is 50 per cent of the initial project.
Culled: Daily Independent
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