Channeldrill Resources Limited, in conjunction with the Elegushi family of Lagos, has unveiled the plan for a new development to be known as the Imperial International Business City.

The new city will be built on 200 hectares of reclaimed land from the Lagos lagoon, stretching from Lekki Phase 1 to the NICON Town.

The Managing Director, Channeldrill, Mr. Femi Akioye, said the city was a vision of his company and the Elegushi of Ikateland, Oba Saheed Elegushi.

“This vision is majorly about building a city for the future. There are two things that will define the future of modern cities in the world, smart and green, and there is no better place to start this campaign in Africa than in Nigeria,” he said.

Akioye added that as a form of a special Corporate Social Responsibility, the promoters of the city were giving people the opportunity to be part of the development through the Imperial City Promo.

“This is a chance for an average Lagosian and Nigerian to win a plot of land in a city that will become the most expensive in Africa in a few years, for just N500,” he said.

According to Akioye, the promo is borne out of the vision to make the city an all-inclusive project where average Nigerians can aspire to and obtain a piece of land for the future.

“We want those on the minimum wage, the working class men and women, civil servants, teachers and all other citizens who have been putting in their fair share into the commonwealth of this country to be part of the future we talk about,” he explained.

Akioye said the promo had been approved by the Lagos State Lotteries Board, while Quickteller, Winners Golden Bet, Golden Chance Lotto and GuarantyTrust Bank would be partners with Interswitch as ticket vetting agents.

He said the promo would produce seven winners over a seven-week period, in addition to other consolation prizes worth over N300m.

According to him, the construction of the city will take about five to six years, with the reclamation of the land taking two years and provision of infrastructure taking about three years.

The Group Chief Executive Officer, Kedari Capital Limited, Mrs. Ife Fashola, said the city would be built right to correct some of the mistakes made in estates along the Lekki corridor.

Akioye said the consultants and contractors for the dredging, engineering and planning were all world-class companies from Europe.

PUNCH.