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Lagos free zone positions itself as hub for German investment

Lagos Free Zone Attracts German Investment
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The Lagos Free Zone aims to attract German businesses, highlighting its deep-sea port and comprehensive ecosystem for investment opportunities.

 

The Lagos Free Zone (LFZ) is actively positioning itself as an enabler for German businesses, attracting investors seeking growth opportunities in Nigeria and the broader West African region.

Adesuwa Ladoja, the Chief Executive Officer of LFZ, made this statement during the 11th German-Nigeria Business Forum held in Lagos.

 

Also read: Lagos tackling hospital bed deficit to reverse medical tourism

 

In her address, Ladoja emphasised that the LFZ’s strategic features, including its deep-sea port and world-class infrastructure, create an optimal environment for business growth.

“It remains the only free zone in Nigeria that is integrated with a deep-sea port and equipped with facilities that help businesses thrive,” she stated.

Ladoja highlighted that trade between Nigeria and Germany reached $3 billion in 2023, showcasing the LFZ’s critical role in facilitating collaboration with German enterprises.

She pointed to BASF, a multinational recycling company, as an example of successful partnership, noting that by establishing operations in the LFZ, BASF has enhanced its competitive edge while aligning with Nigeria’s goals for industrialisation and economic diversification.

The LFZ CEO encouraged potential investors to view Nigeria not merely as a market but as a launchpad for long-term growth across the region.

She stressed that Tolaram, LFZ’s parent company, has made significant contributions to Nigeria’s manufacturing and infrastructure sectors, supporting 20 successful consumer brands and several infrastructure projects.

“Investing in Nigeria is not just about tapping into the market or making quick profits.

It is about building long-term partnerships that create immense mutual value,” Ladoja remarked.

She also disclosed that the LFZ has attracted approximately $2.75 billion in investments from global companies, urging German businesses to seize the opportunities presented by the LFZ as a platform for regional expansion.

The German-Nigeria Business Forum, themed ‘Building Effective Partnership for Successful Business Development,’ featured a panel session on ‘Agribusiness, Food Manufacturing and Processing,’ moderated by Ladoja.

The session included contributions from various stakeholders, including the Lagos State Commissioner for Agriculture, Abisola Olusanya, and industry experts.

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