LCCI pledges support to drive investments for Lagos Free Zone

Lagos Chamber of Commerce and Industry (LCCI) has pledged its support to drive increased investments into Lagos Free Zone (LFZ). The President, Lagos Chamber of Commerce and Industry, Michael Olawale-Cole, made this pledge during a visit by LCCI executive members to LFZ in Ibeju Lekki, Lagos, recently.

During the visit, Olawole-Cole commended the management of the LFZ and the promoter – Tolaram, for the sustainable business model, which has earned it a strong social licence and reputation within the business community in Nigeria and globally.

“LCCI is Nigeria’s foremost business organisation, operating for over 130 years and with more than 60% of Nigeria’s commercial sector being members of the organisation. Today, we visited this Zone, and we were very impressed with what we saw. LCCI being the voice of the organized private sector, we would extend our support in driving investments into the Zone,” Olawale-Cole said.

In his remarks, Dinesh Rathi, managing director/CEO, LFZ, described the visit as symbolic and a step in the right direction in gaining trust and buy-in from Nigeria’s booming corporate commercial sector.

“The LFZ is rightly positioned to service the needs of Nigerian indigenous businesses as well as international businesses who are members of the organisation. Apart from the fact that the Zone offers unmatched remarkable advantages for corporate sector investors, its integration with the Lekki Deep Sea Port is a unique differentiator. The Zone is well-positioned to be the foremost investment destination for manufacturing and logistics sectors today,” Rathisaid.

Read also: LCCI, CABC partner to expose Nigerian businesses to trade opportunities with China

He further highlighted that Lekki Port, a project of deep relevance to the growth of the sub-Saharan African economy, is situated within LFZ. Once it becomes fully operational by the last quarter of 2022, it would fully activate the African Continental Free Trade Area (AfCFTA) by facilitating regional distribution and transshipment.

Impressed by the investment already situated within the Zone, Chinyere Almona, director-general, LCCI, said LCCI was open to collaboration at all levels with the management of Lagos Free Zone. She further stated that LCCI would inform and encourage its members to seize the opportunities in the Zone while also engaging the government at both State and Federal levels to deliver more complementary infrastructure for the Zone.

“We came here today to understand the capacity of industrialization going on here; and as an organisation promoting trade and exploiting business and commercialization opportunities for our members. Leaving here today, we would return to our members and tell them that the Lagos Free Zone is a doorway to develop their business effectively. With LFZ, I am convinced that indigenous and international businesses can better stand out in Africa,” she said.