Experts confident Lagos Free Zone will boost Nigeria’s GDP by two per cent

Business analysts have suggested that the Lagos Free Zone (LFZ) could potentially contribute around two percent to Nigeria’s Gross Domestic Product (GDP) when fully developed.

Experts made this prediction during a virtual Investor showcase by the Common Wealth Enterprise and Investment Council (CWEIC) to host the Lagos Free Zone as its newest Strategic Partner.

According to them, When fully developed, LFZ will also host more than 100 major businesses.

LFZ is an 830-hectare development integrated within the Lekki Deep Sea Port that is currently being built in Lagos.

The port will be the deepest port in Nigeria and one of the most modern in Africa owned and operated by the Singapore-based Tolaram Group.

The Group had expressed the Zone’s commitment to enhanced ease of doing business in Nigeria.

The General Manager (GM) Strategic Marketing and Business Development at LFZ, Tejaswi Avasarala, disclosed that Nigeria is one of Tolaram Group’s key investment destinations where the group drives its businesses.

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