By Ezra Odogu
United States Consul General, William Stevens has said the Lagos Free Zone is capable of attracting increased foreign direct investments from the United States. This surge is attributed to the zone’s exceptional infrastructure and a plethora of incentives, including its integration with the Lekki Deep Sea Port and Dangote Refinery
Stevens, leading a delegation from the United States Consulate General, expressed this optimism following a comprehensive tour of companies and facilities within the Lagos Free Zone, the first privately owned zone in Nigeria.
Stevens, who lauded the impressive and outstanding business relationship between Tolaram and US companies, said through the opportunities at the Lagos Free Zone, investors from the United States of America have deepened penetration in the Nigerian market by introducing world-class goods and services to Nigerians.
Established in 2012, Lagos Free Zone (LFZ) is a unique and award-winning port-based industrial zone (850 hectares) in Lagos, Nigeria, with over USD 2.5 billion committed FDI projects to date. Owned and promoted by Tolaram, LFZ is located in Lekki, the sunrise development corridor in Lagos, with the vision is to be the preferred industrial hub in West Africa with world-class infrastructure.
The zone is already serving global brands like BASF, Kellogg’s, Colgate, Arla, Dufil, and Lekki Port, Dangote Refinery, among others, as tenants. Lekki Port at LFZ started operations in April 2023. It is the deepest seaport in Nigeria, with a draft of 16.5m and the capacity to handle 1.2mn TEUs per annum.