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Indian High Commissioner, EU Ambassador pledge support to drive FDI to Lagos Free Zone

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The Indian Excessive Commissioner to Nigeria, Shri G. Balasubramanian, and the European Union Ambassador to Nigeria and the ECOWAS, Ms. Samuela Isopi, have pledged their help to drive International Direct Funding to the Lagos Free Zone (LFZ). They each made this know throughout an official go to to Lagos Free Zone in Lagos on Friday, January 20, 2023.

His excellency, Shri G. Balasubramanian, expressed satisfaction with the standard of infrastructure and investments within the Zone. He said that the Zone has the potential to vary Nigeria’s financial panorama by attracting extra international direct investments. He pledged to share the message of the distinctive alternatives accessible within the Zone with Indian firms in Nigeria and overseas.

L-R: Excessive Commissioner of India to Nigeria, Shri G. Balasubramanian; Chief Govt Officer, Lagos Free Zone, Dinesh Rathi; European Union Delegation Ambassador to Nigeria and the ECOWAS, Samuela Isopi and Consul Basic of India, Chandramouli Kern, through the courtesy go to of the diplomatic heads of the EU Delegation and India to Lagos Free Zone in Lagos, just lately.

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“The Zone affords traders a singular alternative, particularly in tax advantages and exemptions. Nigeria is the enormous of Africa, and there’s a nice alternative to be explored throughout the Zone. Lekki Port, by itself, is a incredible facility that can change how enterprise is finished in Nigeria. In fact, it can appeal to a lot of companies and a lot of containers to be dealt with”, he mentioned.

Additionally, through the go to, European Union Ambassador to Nigeria and the ECOWAS, Ms. Samuela Isopi, counseled Tolaram – the promoters of Lagos Free Zone, for the unbelievable achievements recorded thus far. She defined that integrating Lekki Port with the Zone stays the largest game-changer for the Nigerian economic system and the West African area. In line with her, LFZ is an financial hub that will considerably assist advance regional integration by selling bilateral commerce between Nigeria and different nations throughout the ECOWAS sub-region.

“We’re impressed with the imaginative and prescient and idea now we have seen right here. We’re glad that international traders can now discover a one-stop store the place all they want within the processing, power autonomy, and ability units can be found. Not solely that, they’re now open to some incentives, similar to tax exemptions, that will allow them to succeed. As well as, we’re glad that we now have Lekki Port which might assist decongest current ports and promote commerce amongst ECOWAS nations. With this, we’re extremely optimistic that the West Africa area will witness desired growth”, she mentioned.

In his welcome remarks through the go to, the Chief Govt Officer of Lagos Free Zone, Dinesh Rathi, described the Zone as the most effective funding vacation spot in Nigeria for international direct funding. LFZ’s self-sustainable enterprise ecosystem consists of warehouses, commonplace factories, a logistics hub, a hearth station, broadband community connectivity, residential developments, a medical facility, stable waste administration, and an impartial pure fuel primarily based energy supply.

Rathi defined that the Zone, promoted by Singapore-based Tolaram, is the primary privately owned particular financial Zone in Nigeria, masking an space of 850 hectares of land. He famous that LFZ is exclusive in its deal with delivering ease of doing enterprise, giving companies within the Zone a aggressive edge.

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“Lagos Free Zone affords many aggressive benefits and incentives for traders excited about finding their companies within the Zone; these embody single-window clearance for regulators, enabling infrastructure, the chance to live-work-play, and entry to international markets. One other symbolic benefit is that LFZ is the one Zone built-in with a deep sea port.” he mentioned.

About Lagos Free Zone

Promoted by Singapore-based Tolaram, Lagos Free Zone is Nigeria’s first personal free commerce Zone. Centrally positioned in Lagos State, the industrial centre of West Africa’s largest economic system, the Zone covers an space of 850 hectares.

It’s absolutely geared up with world-class infrastructure and a single clearance window for ease of doing enterprise. Lagos Free Zone is Nigeria’s solely free Zone built-in with the Lekki deep sea port, permitting entry to regional and worldwide markets. With a deal with the convenience of doing enterprise, Lagos Free Zone is on the forefront of serving your online business in Nigeria.

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