Lagos Free Zone, the primary personal free commerce zone (FTZ) in Nigeria promoted by Singapore-based Tolaram Group, is reaching out to Indian corporates to set up base within the FTZ to entry the entire of Africa with ‘peace of mind and without any hassles’.
Lekki port, the deepest port in Nigeria with a depth of 16.5 metres, connected to the FTZ supplies strategic benefits for manufacturing and shipments, a senior Lagos Free Zone govt stated.
“Our port can handle vessels of up to 18,000 containers, which is four times as big as the vessels that currently come to the Nigerian market. It is a disruptor in the ocean maritime space and for downstream industries that are relying on import of raw materials, and export of finished goods,” stated Tejaswi Avasarala, General Manager, Lagos Free Zone.
“Lagos Free Zone (LFZ) is located in the Lekki axis, the sunrise development corridor in Lagos State, the commercial centre of West Africa’s largest economy, Nigeria. Centrally located in Lagos State, the zone covers an area of 850 hectares, and is fully equipped with world-class infrastructure, facilities and service, and a single-window clearance system for ease of doing business, as well as a holistic work-live-play ecosystem that allows for global brands to thrive in Nigeria and West Africa,” he added.
He stated for the time being, essentially the most distinguished tenants that the free zone has, are Kellogg’s, Colgate, Arla Foods and BASF.
“More than 100 Indian companies already have their roots on the ground, and these include the biggest of the names that you expect to see. All these companies are in the advanced stages of discussion with LFZ,” he added.
LFZ is in search of firms within the subject of chemical compounds, natural chemical compounds, cars, electrical equipment, cotton and capital items.
“The precedence sectors that we now have recognized for the zone primarily based on evaluation of a number of elements are FMCG, downstream petrochemicals, leather-based, footwear, engineering, cars and prescription drugs, he added.
