Ambode donates land to German firm investing $75m in Lagos economy

Lagos State governor, Akinwunmi Ambode on Thursday demonstrated his commitment to attract foreign investors into the state as he approved land for the establishment of a $75 million building/construction tools manufacturing factory in Lagos.

The factory, to be owned by the Knauf Group, which is a German firm and one of the world’s leading manufacturers of modern insulation materials, dry lining systems, plasters and accessories, thermal insulation composite systems, paints, floor screed, floor systems, and construction equipment and tools, will train architects, civil engineers and craftsmen on modern trends and technologies in the construction sector.

The firm, upon completion, would create 25,000 direct employment, while at least 800 Nigerians will be trained annually in the first phase.

Ambode, who gave the approval when he received a delegation from The Knauf Group, said the approval for the land became imperative in view of the need to encourage investors to continue to invest in Lagos.

The delegation was led by a member of the Management Committee of the firm, Isabel Knauf and Consular General of German Embassy in Lagos, Ingo Herbert.

“I must commend the German government and The Knauf Group for showing something important to all Nigerians. This is a great pointer to the fact that you believe in the Lagos economy and also believe in the future of Nigeria and I like to encourage other investors to emulate what your firm and government is doing in Lagos and as they show interest, we will not hesitate to give them the necessary support,” he said.

Earlier, Isabel Knauf said the team was at the Lagos House to brief the governor on the progress made so far since the project started in September 2015.

According to her, the firm has 23 training centres all over the world training about 14,000 people annually, saying they would like to build the same training centre in Lagos where architects, civil engineers and craftsmen would be trained on how to technically install their products.

She said upon completion of the factory, the firm would create 25,000 direct employment, adding that the training centre would cost about two million Euros to establish, while at least 800 Nigerians would be trained annually in the first phase.