Eko Atlantic City, An Ambitious project in Africa (pics & video)

By Muyiwa Olayinka

Have you heard about the ambitious project taking place in Lagos state in Nigeria. It is called the Eko Atlantic City (E.A.C), a smart city. It is a planned city of Lagos State, Nigeria being constructed on land reclaimed from Atlantic Ocean.

The layout plan is about 9 million square meters of land would be reclaimed 2.4 kilometers south of Ahmadu Bello way, Victoria Island Lagos, into the Atlantic Ocean

Upon completion, the new Peninsula is anticipating of hosting at least 250,000 residents and a flow of 150,000 commuters. The beauty of the project is that it will have positive environmental impact as it will help in stopping the erosion of Lagos state’s coastline.
Historical perspective of E.A.C

For many years, Ikoyi and Victoria Island remained the high brow areas of Lagos state. These exclusive areas were promoted by the British colonialists in the 19th century. It houses head offices of banks, multi nationals, oil and gas, and telecommunications companies.

Gradually in recent times, Lekki Peninsula took over with vigorous land reclamations. The Lekki corridor is the fastest growing corridor with various housing complexes. Lekki Free trade zone is becoming the industrial complex in Africa.

But things are about to change with the advent of of EAC which will be built on sea. With this humongous and ambitious project, Lagos is set to be on the verge of out shining itself, the rest of Africa and the world.

E.A.C was conceived by the former Governor of Lagos state, Asiwaju Bola Tinubu in 2003, as a PPP (Public Private Partnership) in a bid to find solution to the recovery of beach ground lost to sea erosion of over 100 years. It is to build high rising structures and a modern city which Nigeria and Africa will be proud of.

It is projected to combine residential, commercial, financial and touristic accommodation in a location services by high tech infrastructure. EAC is expected to be at least 40% larger than the existing Victoria Island.

The Technical Partners

E.A.C is a PPP with private companies and investors providing funding whilst Lagos State government is a strategic partner with the support of the Federal government.

The contractors are China Communications Construction Group (CCCG), a company that works in the field of marine dredging and landfill operation. The consultants are Royal Haskoning (traffic and transport expertise). South Energyx Nigeria ltd a subsidiary of Chagoury group was created to undertake the development.

Launching of the project

The $6 billion project was launched on the 21st of February, 2013 by the Former President Goodluck Jonathan, Former President Bill Clinton of USA and Governor of Lagos state Babatunde Fashola, Governor Ibikunle Amosun of Ogun state, Asiwaju Bola Tinubu and other dignitaries.

In March 2014, David Frame, managing director of South Energyx Nigeria led, the firm responsible for the development , confirmed that ” The first residential tower will open in 2016.

Financiers of E.A.C

Four banks (three local and one international) are providing financial support for the entirely private sector project. These are First bank Plc, Guaranty Trust bank Plc, First City bank Plc and BNP Paribas Fortis of France.

Diya Fatimilehin & Co a firm of estate surveyors and values is marketing the gigantic prime real estate business. The project is on course and will be delivered in phases.

Great things are happening in Lagos and Africa as a whole

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