INFRASTRUCTURE

Stanbic IBTC partners with Lagos State on Lekki-Epe int’l airport

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It has a footprint which now spans 17 countries across the African continent, including South Africa, and 13 countries outside Africa, including China and Brazil, which are key to its cross border strategy and successStanbic IBTC Bank is a member of Standard Bank Group, a leading African banking group focused on building first-class on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other.

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The New Murtala Muhammed Domestic Airport 2, Ikeja, Lagos

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In the early hours of May 10, 2000, the domestic airport of the Murtala Muhammed Airport went into flames and all efforts by the fire fighters to save the airport from the unprecedented and wide scale destruction proved abortive. Thankfully, no life was lost in the incident. The domestic terminal had been built in the pre-independent era and before the construction of the International terminal to cater for both international and regional flights.

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The New Lekki Airport

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THE NEW LEKKI AIRPORT

The Lagos State Government established the Lagos Airport Development Company (“LADC”) solely for the purposes of managing the development of the proposed Lekki Airport. The primary objective for the development of the Lekki airport is to complement and support the Murtala Mohammed International Airport ("MMIA”), the only functional international Airport in Western Nigeria. Additionally, it is the state’s desire for the airport to develop into the a new hub for business and travel in the west African region, creating an environment of excellence for national, regional and international companies.

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The Lekki Toll Road, Kilometer 20 Lekki Epe-Expressway

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PROJECT BACK GROUND

Lagos State is in dire need of essential infrastructure in all the basic areas, including Roads, Transportation (e.g., Buses, Rail, and Ferries), Water and Power. Historically, a combination of lack of investment, inadequate maintenance, and focus on other government programmes, has meant that the condition and availability of essential infrastructure in Lagos State has actually deteriorated over the years, rather than improved. With a recently counted population of 9 million (2006 census) but still estimated by some to be in the region of 15 million today, and UN forecasts indicating a population figure growing close to 20 million by 2010, it is critical that the current trend of deterioration be reversed and that infrastructure keeps pace with Lagos' future population growth and needs

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