In a major development, Lagos Free Zone (LFZ), Nigeria’s first privately owned zone, is set to attract increased foreign direct investment (FDI) from the United States, thanks to its exceptional infrastructure and a range of incentives, including its integration with the Lekki Deep Sea Port.
During a recent visit to the Lagos Free Zone, William Stevens, the US Consul General, who led a delegation from the US Consulate General, expressed optimism that the zone would attract increased foreign direct investment from the US. Stevens commended the strong business relationship between Tolaram, the operator of the zone, and US companies. He stated that investors from the US have deepened their presence in the Nigerian market by bringing world-class products and services to the country through the zone.
According to Stevens, the increasing investment from US companies in the zone will not only strengthen economic ties between Nigeria and the US, but also demonstrate the unique advantages of the zone for US companies looking to enter the Nigerian market.
“It is amazing to see the partnership between Tolaram and US companies and the
opportunities therein. We are constantly looking at how we can attract more American
companies to this market both in terms of investment and trade,” he said.
Dinesh Rathi, the CEO of Lagos Free Zone, agreed with Stevens that the zone is a prime investment destination, highlighting its world-class infrastructure and range of incentives for investors.
Rathi noted that the zone has overcome regulatory and infrastructural challenges, creating a unique environment for doing business. He stated that the zone’s priority is to make it easier for businesses to establish and operate in Nigeria, and to promote trade and investment.
Rathi also highlighted the zone’s focus on sustainability and social responsibility. He noted that the zone is committed to creating a positive impact on the local community and promoting environmental protection.