to Nigeria than oil. These three initiatives showcase Nigeria’s potential for a brighter future.
NEW CI TY BY THE SEA
Pitched as Africa’s answer to Dubai, Eko Atlantic is
a new city being built on 10 square kilometers ( 3. 9
square miles) of reclaimed land off the coast of
Lagos. The multibillion U.S. dollar project, which is
a public-private partnership with local and federal
governments, aims to attract multinational corporations to set up shop and become home to as many
as 250,000 people. As much as 90 percent of the
infrastructure was scheduled to be completed by
the end of 2015, and the city could welcome its first
residents this year.
Nigeria’s first major shipyard will be a US$1.5 billion project that will take four years to build. The
shipyard, which would be the size of 185 football
fields, would make the country a hub for ships and
increase its ability to provide repairs. Although it
could be used to transport up to 2. 5 million barrels
of crude oil per day, the shipyard could handle
products from other sectors.