Follow Us on Google
Lagos Free Zone (LFZ), Nigeria’s pioneering privately-owned free zone, is poised to become a vital partner for German businesses seeking to expand in Nigeria and the broader West African region. The commitment was highlighted by Mrs. Adesuwa Ladoja, the Chief Executive Officer of LFZ, during her keynote address at the 11th German Nigerian Business Forum (GNBF) held recently in Lagos.
The forum, themed “Building Effective Partnerships for Successful Business Development,” underscored the growing synergy between German enterprises and Nigerian markets.
In her remarks, Mrs. Ladoja emphasized LFZ’s unique value proposition, stating that it offers a comprehensive ecosystem designed to empower businesses to seize opportunities while minimizing risks. She proudly noted that LFZ is the only free zone in Nigeria equipped with a deep-sea port and top-tier infrastructure, setting the stage for businesses to thrive and innovate.
Highlighting the importance of international collaboration, Mrs. Ladoja pointed out the robust trade volume between Germany and Nigeria, which reached an impressive $3 billion in 2023. She cited the significant investment by BASF in Lagos Free Zone as a prime example of how German companies can tap into LFZ’s strategic advantages for sustainable growth.
With its commitment to supporting German businesses and fostering economic development, Lagos Free Zone is not just a gateway to Nigeria; it is a dynamic platform for business success in the region. As LFZ continues to strengthen its partnerships and infrastructure, the potential for collaborative growth between German companies and Nigerian markets has never been more promising.
“By establishing operations in the Free Zone, BASF enhances its competitive edge while aligning perfectly with Nigeria’s ambitions for industrialisation and economic diversification,” she said.
She went on to encourage prospective investors to see Nigeria not merely as a market, but as a strategic launch pad for their next phase of growth.
Other News
Describing Tolaram, Lagos Free Zone’s parent company, as one of the early movers in Nigeria, the CEO of Lagos Free Zone explained that the conglomerate has unlocked a lot of growth opportunities in Nigeria’s manufacturing and infrastructure sectors with twenty successful consumer brands and two transformational infrastructure projects already in place.
Noting that factors such as local presence and localised value chain, long-term commitment, and empowered management were key to investors and businesses thriving in the Nigerian market, she advised investors to stop seeing Nigeria solely as a trade or export destination, but a place to develop a strong local presence and a stronger supply chain to manage input and output logistics to enable sustainable success.
Citing the example of Tolaram, which has 20,000 employees in Nigeria, with each business unit authorised to make decisions independently, she emphasised the need for businesses to be run by empowered management, stating that doing so would enable the team to respond to the evolving dynamics of the market.
“Investing in Nigeria is not simply about tapping into a market or making quick gains. It is about forging a long-term partnership for creating immense mutual value,” she added.
She noted that such a forum remains crucial in fostering collaboration and connecting German companies with the right opportunities for growth.
During the panel session titled “Agribusiness, Food Manufacturing and Processing,” the CEO of Lagos Free Zone also reiterated the need for investors to take advantage of the opportunities, stating that the Zone had so far attracted about USD2.75 billion in investment from different parts of the world.
The panel session had an impressive line-up of speakers that included the Honourable Commissioner for Agriculture, Lagos State, Ms. Abisola Olusanya, Executive Director, Chi Farms, Johannes Flosbach, Founder, Gartner Calaway, Yomi Williams, Expert, Afos Foundation, Dietmar Speckmaker among others.
