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 has a committed investment of $2 billion is set to attract an additional $5 billion over the next four 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 last Friday.
Rathi further explained that the zone, which was established in the year 2012 is being promoted by Tolaram Group, a leading conglomerate in Nigeria – which has already attracted about $2 billion committed investment to the Zone.
On the ease of doing business, he stated that the Lagos Free Zone (LFZ) is simplifying the entry and operations for foreign investors in Nigeria and by extension improving the EODB situation.
Speaking during the visit, Governor Babajide Sanwo-Olu, lauded the management of the Lagos Free Zone and its promoters – Tolaram Group, for its commitment and investment in the zone which would boost the economy of the state and that of the nation.
He praised Lagos Free Zone for being one of very first settlers in the area and for making tremendous improvements and progress, in partnership with other international and local businesses and brands.