Managing Director of Managing Director of the Nigerian Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, and his team visited the Lagos Free Zone (LFZ) owned by Tolaram Group, last week.
Speaking during the visit, Adesugba said it is crucial for the government and private sector to promote great investments such as the LFZ. According to him, as a developing country, we need to focus on key aspects that can lead to accelerated economic development.
“NEPZA is an agency of government that is geared towards ensuring there is industrialisation using the template of the free zones and this is exactly what we are working towards. It is also important to stress that irrespective of legislation, the purpose and the mandate given to the free zone is that it must be a tax free zone. Therefore, no matter the complications, we have to make sure that ours is not different to others. We will also be upgrading the investment promotion unit of NEPZA to a full-fledged department, as it is crucial for the government and private sector to promote great investments such as the LFZ. I would like to thank, CEO of LFZ, Mr. Dinesh Rathi, and his team for a great tour of the site and the wonderful work being done here.”
The LFZ is the first privately owned special economic zone in Nigeria with an integrated deep sea port and is home to several reputable brands such as Kellogg’s, Dano Milk, Power Oil, Colgate, BASF, and many more. With world-class infrastructure and a host of operational advantages, LFZ intends to be the preferred industrial hub in Nigeria to cater to the growing needs of consumers in Sub-Saharan Africa.
In her presentation, to the NEPZA team, Business Development and Marketing Manager, LFZ, Chinju Udora, said Lekki Port, which is set to be fully operational by the fourth quarter of 2022, is seamlessly integrated with in LFZ to connect it to regional and international routes.
“LFZ remains committed to enhance the ease of doing business in Nigeria. The central processing center that currently hosts agencies including the Nigeria Immigration Service (NIS) and the Nigeria Export Processing Zones Authority (NEPZA) facilitates a single window system to meet all registration and day-to-day operational needs of businesses. Furthermore, critical ancillary facilities such as ready-built standard industrial facilities, warehouses, emergency response medical facility, dedicated truck pack and logistics support enable a cost-effective and hassle-free operational environment for businesses,” he said.