LFZ unveils plans for 410m consumers

LFZ unveils plans for 410m consumers


The Chief Executive Officer of the Lagos Free Zone (LFZ), Dinesh Rathi, has disclosed that LFZ is determined to facilitate increased investments into the country through its multifarious projects for the mutual benefit of 410 million consumers and investors in Africa.

Rathi disclosed this on the weekend at a media facility visit to Lagos Free Zone (LFZ) in Ibeju Lekki, Lagos.

He explained that Lagos Free Zone (LFZ) offers unique opportunities for investors and over 200 million Nigerians.

“Through production facilitated by Lagos Free Zone, manufacturers will have accessible channels to Nigeria’s over 200 million consumers. In turn, Nigerians will have access to affordable, domestically produced consumer goods produced by Nigerian workers’’, he said.

Lagos Free Zone (LFZ) is an 850-hectare industrial development, a fully functional special economic zone located 65km East of Lagos in the Ibeju-Lekki axis.

Nigeria is one of the strongest economies in Africa with the potential for further economic and industrial activities owing to the presence of natural resources and favorable demographics.

Rathi disclosed that the zone as the gateway to the next frontier is ready to attract more investments from the United States of America to Nigeria by offering access to 350mn strong West-African market, unparalleled infrastructure, a host of fiscal incentives and a 360 ecosystem for business and livelihood.

Rathi described Lagos Free Zone as an ideal destination for industrial investment, not only in Nigeria, but also in the entire West African sub-region.

“Lagos Free Zone is a catalyst to fast-track industrialization and for sustainable economic development not just for Lagos state but Nigeria as a whole. We believe this zone is the right investment destination every investor should look into given the unlimited opportunities that abound”.

Also, the manager, health and safety, Lekki Seaport, Samuel Azanar disclosed that Lekki Deep Seaport, a multipurpose Nigeria’s deepest seaport in Lagos Free Zone (LFZ) has the capacity to host 70 per cent of cargoes coming to West Africa countries through the nation’s seaport.

The seaport, which commenced operations last month after 10 years of project development plan has gulped $1.5 billion.