Lagos Free Zone to draw $5b investment in 4 years

The Lagos Free Zone (LFZ), which has an investment of $2 billion, is expected to draw an additional $5 billion over the next four years.

Its Chief Executive Officer, Mr. Dinesh Rathi, who spoke at the Corporate Headquarters of the company in Ibeju-Lekki, during the visit of the state Governor, Mr. Babajide Sanwo-Olu and his cabinet members to the zone, said it was in line with its vision to be the preferred industrial hub and investment destination in West Africa with world-class infrastructure.

Rathi said the zone, which was established in 2012, is being promoted by Tolaram Group, a leading conglomerate in the country, which has attracted about $2 billion committed investment to the zone.

Sanwo-Olu commended the management of the LFZ and its promoters – Tolaram Group – for their commitment and investment in the zone which is poised to improve the state’s economy and that of the nation.

He commended the LFZ for making the youth part of the development conversation and creating opportunities for empowerment.

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