$150m Agonrin Beach Project: NCDF, EFW Ltd Ready To Get The Ball Rolling, Conclude Site Selection Agreement

The Nigerian Capital Development Fund (NCDF) has concluded plans to spearhead a transformative USD 150 million investment in Agonrin Sea Beach, Badagry West Local Government, Lagos State in collaboration with Eternal Flame Worldwide Limited which has its headquarters in the United Kingdom.

A statement made available to Team@orientactualmags.com noted that Hon. Babatunde Oralusi, Executive Chairman of NCDF, and Ken Dunn, President of Eternal Flame Worldwide Limited, finalized discussions with the community where the project is located on Sunday in respect of ‘site selection’.

‘The ambitious plans include the development of an African Creative City, a World-Class Eco-City where Culture Meets Innovation, as well as the establishment of a 100 MW renewable energy power plant utilizing wind and solar technologies.

This groundbreaking project aims to foster sustainability and net-zero emissions by providing clean, renewable energy in the community.

The partners also have plans to construct a manufacturing plant to produce Eco-Magic Cook Bags, a revolutionary device that enables 90 minutes of cooking daily, offering life-changing benefits such as reducing deforestation, decreasing water usage, and locking in carbon’ the statement said..

Hon. Oralusi also noted that the policy thrust of the Tinubu administration is designed to restore investor confidence and position Nigeria as an attractive destination for foreign direct investments.

‘President Bola Tinubu’s reforms are yielding positive results, making Nigeria a hub of transformative initiatives like this one. However, more work remains to ensure these reforms create the desired impacts. 

We require additional incentives that will attract foreign direct investment and create substantial employment opportunities for our youth’ he said.

‘The African Creative City, envisioned as a hub where culture, innovation and sustainability converge, will integrate tourism, technology and eco-friendly infrastructure, positioning Agonrin Sea Beach as a global model for eco-cities.

The power plant and manufacturing facility will serve as catalyst for socio-economic development, creating jobs, boosting local enterprise and empowering communities’ the statement added.

Ken Dunn, who is the President of Eternal Flame Worldwide Limited, highlighted the global significance of this collaboration.

 ‘This partnership reflects our shared commitment to delivering sustainable and energy access. Together, we aim to set a benchmark for sustainable development in Africa’ he said.

‘The NCDF’s Badagry initiative aligns with its mission to promote sustainable infrastructure, renewable energy and community-driven projects; fostering long-term development across Nigeria.

The Nigerian Capital Development Fund is a venture capital fund management and impact investment organization dedicated to advancing sustainable development.

Through strategic collaborations with municipalities and private partners, NCDF drives initiatives in infrastructure, renewable energy and community-centric programs to uplift local communities and promote inclusive growth’ the statement added-Team@orientactualmags.com  Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com.  Thank you