Kantagowa revenue to surpass N1.5b, computer village developer assures

Bridgeway Global Project, the developer handling the relocation of the Information Communication Technology (ICT) Park (Computer Village), Jimmy Onyemenam, has assured that the current national contribution of the market, which is estimated at N1.5 billion, to the Nigerian economy would increase as business activities move to the new Lagos ICT business park at Katangowa.

Onyemenam noted that given the economic landscape and growing technology agglomeration in Lagos, the proposed ICT Park housing would contribute significantly to national economic growth and development, based on the local economy of Lagos State with a GSP of $136 billion.

He urged business owners to shun all forms of doubt and rumour that might want to detract them from keying into the project while noting that efforts were in place to intensify awareness of the project.

Onyemenam advised the business owners, who are currently in Computer Village to take advantage of the variety of the payment plans made available by some banks, saying that the price for the outlet would soon gain an upward review.

“We all know the reality of the Nigerian economy today but we have taken care of that and that is why Sterling Bank is on board. They are specifically structured to finance the off-takers particularly those who do not have the resources to pay in one go or within a year or two which are the options available from our desk. Sterling Bank can pay for any interested trader and give the individual seven years to pay back. It’s like a lease-to-own package.

“Our advice to them is to take advantage of this opportunity well ahead of two things: outsiders taking advantage of the opportunity and the pending price increase. These are two things that are likely to happen. My call to them is to jump at this opportunity and subscribe rather than wait until two years. We cannot guarantee that these shops will be waiting for them.

“The price will go up. The price is currently almost four years old and things have changed in the country between the times the price was fixed and now. So, obviously, the price is going up.

“The growing technology penetration in Nigeria could result in more gains as the country has been projected to become Sub-Saharan Africa’s outsourcing location for basic services, and these gains could be leveraged on by the establishment of the ICT Park for more ICT development given the facilities present in the hub.”

Also, President, Phone and Allied Products Dealers Association (PAPDA), Ifeanyi Akubue, said members were ready to relocate, and financial plans have been made available for members to take advantage of the opportunity.

He said there was the need for members to work with the leaders of Computer Village to have access to funds from the bank, which would run for seven years.

According to him, the association had taken into consideration all the needs before agreeing to the relocation, especially with the state government’s support.

“We are convinced that Lagos State is supporting the project and we have been to the project site.
We told our members that plans are underway to carry everyone along and there is an opportunity for everybody to get involved.”

On his part, President Coalition of Association in Computer Village Timi Famoroti, said the new place will be free of intimidation, harassment and aggression and a more conducive environment.

“We deserve an international market such as the ICT Park which will allow members to own their shops. To the members, it is an investment and an opportunity to fly. This project happening now is not without challenges, but as leaders, we are determined to give our members a very conducive environment for business.”