Follow Us on Google
The Nigerian Capital Development Fund (NCDF), in partnership with UK-based Eternal Flame Worldwide Limited, has unveiled a bold $150 million plan to revolutionise Agonrin Sea Beach in Badagry West Local Government Area, Lagos State.
The announcement came during a recent site visit led by Hareter Babatunde Oralusi, Executive Chairman of NCDF and Ken Dunn, President of Eternal Flame Worldwide Limited.
Engaging with the local community, the leaders outlined an ambitious vision to develop an African Creative City, a world-class eco-city blending culture and innovation, alongside a 100MW renewable energy power plant powered by wind and solar technologies.
The project is designed to champion sustainability, aiming for net-zero emissions while providing clean, renewable energy to the region. Key components include: the African creative city, a hub where culture, technology, and eco-friendly infrastructure merge, setting a new global standard for eco-cities.
The 100 MW renewable energy plant will harness wind and solar power to deliver sustainable energy solutions.
There is also the Eco-Magic Cook Bags Production Facility that will be manufacturing exceptional cooking bags made from 100% natural fiber. These bags dramatically reduce cooking time to 90 minutes daily, cutting deforestation, conserving water and locking in carbon.
Speaking on the site, Mr. Oralusi commended President Tinubu for his economic reforms, which have restored investor confidence and positioned Nigeria as an attractive destination for foreign direct investment.
“President Tinubu’s reforms are yielding positive results, making Nigeria a hub for transformative initiatives like this one. However, more work remains to ensure these reforms significantly improve the lives of ordinary Nigerians. We urge the government to implement additional policies that will attract foreign direct investment and create substantial employment opportunities for our youth,” Mr. Oralusi stated.
Ken Dunn, President of Eternal Flame Worldwide Limited, highlighted the global significance of this collaboration. “This partnership reflects our shared commitment to delivering sustainable solutions that benefit local communities while addressing global challenges like climate change and energy access. Together, we aim to set a benchmark for sustainable development in Africa.”
The NCDF’s 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.
