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Lagos Free Zone Seeks Increased Investment from UK Businesses

Eromosele Abiodun
The Chief Executive Officer, Lagos Free Zone, Adesuwa Ladoja, called for increased collaboration to boost investments from businesses residing in the United Kingdom. Reinforcing the fact that the Zone remains the preferred investment destination, showcasing world-class infrastructure and incentives for potential investors, Ladoja highlighted the pivotal role of LFZ in providing optimal environment for conducting businesses through the removal of regulatory permit bottlenecks and provision of key infrastructure.
He stated this when he hosted a high-powered delegation of the British Deputy High Commission at the zone in Lagos.
“It is an absolute honour to welcome you and the delegation and show what we have done at Tolaram in the last three decades. We are happy that we are playing our part to improve the ease of doing business in Nigeria,” she said.
She noted that the Zone was getting the much-needed support from the federal government to improve the business environment through the provision of road and rail infrastructure. She disclosed the commencement of the construction of coastal roads by the federal government with plans to ensure rail alignment along the route in no distant time.
In his remarks, the British Deputy High Commissioner, Jonny Baxter explained that the Lagos Free Zone presents the opportunity for the United Kingdom to strengthen economic bond with Nigeria.
Baxter, citing the relationship between UK and Nigeria which will be strengthened given the opportunities that Lagos Free Zone offers, expressed optimism that both countries would leverage the opportunities by taking comparative advantage of each other’s economies.
He explained that the integration of Lekki Port and Lagos Free Zone remains a game changer that will attract investments an help to improve Nigeria’s economy. He urged the management of the Zone to introduce more efficient and effective practices that would facilitate a business-friendly ecosystem and encourage more investors to see the location as a viable investment destination.
“Well, I think bilateral trade between the UK and Nigeria is strong. I think the advice I have for the promoter of the Zone is to ensure that businesses in Nigeria are properly integrated into the market such that we can witness developments, potentially create new markets and create new supply chains, for which the rest of Nigeria can benefit as well,” he said.