ROLE AND DIRECT BENEFITS FOR HOST STATE GOVERNMENT
The promoters extends hands of partnership to the State Government to provide land at concessionary rate for this industrial development initiative. The State is free to decide its form of assistance by considering few options viz: providing land with title document at an affordable rate as host payable on agreed format; OR provide land with title document at an affordable rate which after value deciding is built as equity holding into the project. The equity percentage shall be mutually agreed and documented for posterity and accountability.
The State Government’s decision on chosen collaborative mode shall be officially communicated and gazette to avoid undue land-related crisis from indigenous owners. The modality for compensating land original owners shall also be legally documented between parties from the start of allocation. Host State Investment Company ltd is proposed as interfacing project vehicle to represent the State interest.
LGA ALLOCATION: In the alternative, direct land allocation by traditional owners (Ikoyi/Ikire) at Local Government Area (LGA) shall be explored while C of O shall be obtained to back-up such offer from the Host State.
|Category of Impact||Direct||Indirect||Induced|
– Purchasing expenditure for local goods and services
– Taxes paid to the government
– Subsequent backward expenditure for local goods and services along the supply chain
– Income of supply chain employees
– Taxes paid by suppliers to the government
– Household consumption as direct and indirect employees spend their income within the economy
– Taxes paid by the private sector (e.g. retail traders)
|Employment||– Local jobs created||– Local jobs created along the supply chain||– Jobs created in the private sector (e.g. retail)|
|Human Capital Development||– Training for company staff|
EMPLOYMENT AND REVENUE POTENTIAL OF PROJECT
The project will generate 500,000 self-sustaining directs job from manufacturing and related activities within the park. A further 5:1 indirect employment of 2.5million jobs shall be created therefrom. The employment potential is huge for natives and other citizens, including foreign nationals as technical partners before take-over by component local understudies.
A consequential internally generated revenue boost shall follow for host government’s benefit.