In line with its vision to be the preferred industrial hub and investment destination in West Africa with world-class infrastructure, the Lagos Free Zone (LFZ) which already has a committed investment of $2 billion is poised to attract an additional $5 billion over the next 4 years.
This was disclosed by the Chief Executive Officer, Lagos Free Zone (LFZ), Mr. Dinesh Rathi at the Corporate Headquarters of the company in Ibeju-Lekki during the official visit of the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu and his cabinet members to the zone on Friday, March 19, 2020.
Rathi further explained that the zone, which was established in the year 2012 is being promoted by Tolaram Group, a leading conglomerate in Nigeria – who have already attracted about $2 billion committed investment to the Zone currently.
L-R: The Chief Financial Officer, Lagos Free Zone, Mr. Ashish Khemka; the Chief Executive Officer, Dinesh Rathi; the Executive Governor of Lagos State, Babajide SanwoOlu and the Manager, Business Development, Mrs. Chinju Udora at some point of the go to of the Governor to Lagos Free Zone on Friday, March 19, 2021.
On the benefit of doing commercial enterprise, he said that the Lagos Free Zone (LFZ) is simplifying the access & operations for foreign traders in Nigeria & by extension improving the EODB state of affairs.
Speaking at some stage in the visit, the Executive Governor of Lagos, Mr. Babajide Sanwo-Olu lauded the management of the Lagos Free Zone and its promoters – Tolaram Group, for their dedication and funding inside the region which would enhance the economy of the state and that of the kingdom. He praised Lagos Free Zone for being one in all first actual settlers inside the place and for making outstanding upgrades and development, in partnership with other worldwide and local businesses and brands. He additionally recommended the LFZ for making the Nigerian adolescents a part of the development communication and growing opportunities for empowerment.
Sanwo-Olu noted that with over $2 billion already dedicated funding within the zone and the forecast of another $five billion inflow expected in the next four years, the Lagos Free Zone is a key driver for the destiny of the economy of the kingdom.
The Governor pledged that his management might prioritize the issue of the infrastructural improvement initiatives that might act as catalyst to hurry up investments within the Zone.
Making a presentation to the Governor and his entourage, the Manager, Business Development & Marketing, Lagos Free Zone, Mrs. Chinju Udora explained that the Zone that is integrated with the Lekki Deep Seaport is strategically located 65KM south-east of Lagos City on 830 Hectares of land and has already generated extra than 10,000 direct and oblique jobs with 80,000 more jobs to be generated inside the next 10 -15 years within industrial and offerings zone.
Udora defined the area as a 360 – degree atmosphere that could transform the manner of doing enterprise and make stronger Lagos’ position as the industrial nerve centre of West Africa. She stated that the zone will include of 70% Industrial; 20% Logistics and Support Services and 10% real estate to create a LIVE, WORK and PLAY surroundings in line with global high-quality practices
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