The Lagos Free Zone (LFZ) is seeking a strategic partnership with the Deputy High Commission of Canada to attract increased Foreign Direct Investment (FDI), aiming to strengthen Nigeria’s economic landscape and position the zone as a hub for global trade and investment.
The Chief Executive Officer, Lagos Free Zone, Adesuwa Ladoja stated this in Lagos recently after receiving the delegation from the Deputy High Commission of Canada led by the Deputy High Commissioner of Canada, Carlos Rojas-Arbulu.
Ladoja, who expressed appreciation for the visit, stated that it was the beginning of a fruitful relationship that she hoped would result in new businesses from Canada setting up at the Lagos Free Zone. She explained that the Zone, which is promoted by Singapore-based Tolaram, is the first privately owned special economic Zone in Nigeria, covering an area of 860 hectares.. She noted that LFZ is unique in its focus on delivering ease of doing business, giving businesses in the Zone a competitive edge.
“Lagos Free Zone offers many competitive advantages and incentives for investors interested in locating their businesses in the Zone; these include single-window clearance for regulators, enabling infrastructure, the opportunity to live-work-play, and access to global markets. One other unique benefit of the Zone in Nigeria is that it is the only Zone that is integrated with a deep sea port,” she said.
She shared that the Zone is a thriving destination for new investments which has already attracted over $2.75million employed capital.
Speaking during the visit, Deputy High Commissioner of Canada, Carlos Rojas-Arbulu noted that he was impressed and amazed by the quality and the scale of operations at the Zone, adding that effort is ongoing to cement a collaboration that can generate exchanges.
Rojas-Arbulu acknowledged that Canadian investments have typically been region-specific but noted that the strong infrastructure at the Lagos Free Zone (LFZ) presents a valuable opportunity to attract more Canadian companies. He described the Zone as a “soft landing” for investors, offering incentives and expertise to navigate the Nigerian market.
He emphasized that Canadian investors are looking for reliable partners to facilitate their entry and urged LFZ management to boost marketing efforts to build trust and drive investment.
“We want Canadian companies to explore this market soon,” Rojas-Arbulu said. “It would also be beneficial for LFZ authorities to visit Canada to highlight the Zone’s potential.”
Zaya Kuyena, Trade Commissioner at the Deputy High Commission of Canada, expressed his satisfaction with the Zone’s infrastructure, noting that it offers significant business opportunities in Nigeria. He called on LFZ management to raise awareness of the Zone and its trading partners, emphasizing its strong logistics capabilities and export potential.
“With world-class infrastructure in place, the Zone supports all elements of the supply chain, making it an ideal destination for foreign companies looking to establish operations or export,” Kuyena said.