Lagos Free Zone, a subsidiary of Tolaram and the first privately-owned and port-based free zone in Nigeria, has said that it attracted investors from the Nordic countries to boost investment and foreign direct investment into the country.
Speaking during a Breakfast Session of the Nordic Nigeria Connect 2023 conference held in Lagos with the theme “Innovation for a Greener Future,” the managing director/CEO Lagos Free Zone, Mr. Dinesh Rathi, revealed that the zone remains the most preferred and viable investment destination in Nigeria with its unparalleled ease of doing business and the unique incentives available for investors.
He explained that the Lagos Free Zone remains the ideal destination for investment in Nigeria with huge investment in infrastructure, including gas, ready-to-lease warehouses, and factories, as well as being the only free zone in Nigeria integrated with a deep-sea port, which makes it easy to bring in raw materials, and export finished goods.
“Nigeria is one of the strongest economies in Africa with potential for further economic and industrial activities owing to the presence of natural resources and favorable demographics, with a population of 219 million representing 20 percent of Africa and a GDP of $509 billion (17% of Africa),” he said.
In his remarks, the Managing Director Arla Foods, Peder Pedersen, shared a compelling testimony about Lagos Free Zone’s business-friendly ecosystem, having operated in the zone for many years. He noted that the achievements recorded in the zone over the last ten years are perfect examples of possibilities in Nigeria, saying that the success could not have come through without strong partnerships and good management.
