Stakeholders Laud Alaro City On Contribution To Economy

Stakeholders have commended the contributions of Alaro City in repositioning Nigeria as a production economy. 

Speaking at a gathering of industry leaders, policymakers, and stakeholders across the private and public sectors at the recently held Alaro City Trade Summit, the stakeholders discussed strategies to transform the Nigerian business ecosystem into one that is production-driven. 

The managing director, Alaro City, Yomi Ademola stated that Alaro City has been deliberate in its efforts to provide an enabling environment for businesses. Critical road infrastructure investments within Alaro City and connections to the Lekki Expressway and Deep-Sea Port allow businesses to optimise manufacturing and foster trade with partners across Nigeria and around the world. He added that businesses enjoy an increase in profit of approximately 43% from the various Free Zone tax incentives when they establish their businesses in Alaro City. 

Ademola further stated that Alaro City has a good track record of productivity with SMEs, international companies, multinationals, and domestic players as a distribution and production hub. For example, Ariel Foods, which operates within the therapeutic food sector where Nigeria was a net importer, is making a significant contribution to making Nigeria a net exporter in the field. 

Also speaking at the event, the Commissioner for Economic Planning and Budget, Lagos State, Mosopefolu George, stated that the Lagos State Government was proud of the level of progress made in Alaro City, especially from the project kick-off to the current level of export activities. 

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He stated that the Lekki Free Zone in which Alaro City operates is within the fastest growing corridor in West Africa, hence the deliberate investment by the Government in critical developments, which include road upgrades, transportation, and the 4th Mainland bridge for seamless accessibility.