The Indian High Commissioner to Nigeria, Shri G. Balasubramanian, and the European Union Ambassador to Nigeria and the ECOWAS, Ms. Samuela Isopi, have pledged their support to drive Foreign Direct Investment to the Lagos Free Zone . They both made this know during an official visit to Lagos Free Zone in Lagos on Friday, 20 January, 2023.
“The Zone offers investors a unique opportunity, especially in tax benefits and exemptions. Nigeria is the giant of Africa, and there is a great opportunity to be explored within the Zone. Lekki Port, on its own, is a fantastic facility that will change how business is done in Nigeria. Of course, it will attract a large number of businesses and a large number of containers to be handled”, he said.
“We are impressed with the vision and concept we have seen here. We are glad that foreign investors can now find a one-stop shop where all they need in the processing, energy autonomy, and skill sets are available. Not only that, they are now open to some incentives, such as tax exemptions, that would enable them to succeed. In addition, we are glad that we now have Lekki Port which would help decongest existing ports and promote trade among ECOWAS countries.
Rathi explained that the Zone, promoted by Singapore-based Tolaram, is the first privately owned special economic Zone in Nigeria, covering an area of 850 hectares of land. He noted that LFZ is unique in its focus on delivering ease of doing business, giving businesses in the Zone a competitive edge.
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