Plans to turn Lagos into one of the world's foremost megacities are gaining momentum as more and more investors line-up to be part of the transformation.

In one of the latest developments, Bagreit Ventures Limited plans to transform an abandoned incinerator complex at Ebute-Metta, Lagos into a modern social-commercial centre.

According to Alhaji Sikiru Balogun, Chairman and CEO of Bagreit, the centre will be of the same standard as The Palms shopping mall in Lekki, if not better.

He said the facility will feature shops, warehouses, cinemas, restaurants, offices and venues for social gatherings.

Bagreit will be working with a number of foreign investors from South Africa and Dubai, as well as some local banks to see the project become a reality.