Advertisement

LFZ Targets Improved FDI With Canada’s Collaboration  

Determined to drive foreign direct investment into Nigeria, Lagos Free Zone (LFZ), has called for strategic collaboration with the Deputy High Commission of Canada.

This move will enable Canadian investors to benefit from the many competitive advantages and incentives the LFZ offers.

Speaking after receiving a delegation from the Deputy High Commission of Canada led by Carlos Rojas-Arbulu, the Deputy High Commissioner of Canada, Adesuwa Ladoja, chief executive officer of LFZ said the zone offers to investors interested in locating their businesses in the Zone a single-window clearance for regulators, enabling infrastructure, the opportunity to live-work-play and access to global markets.

She said another unique benefit of the Zone in Nigeria is that it is the only Zone that is integrated with a deep seaport.

Ladoja said the visit by the delegation is the beginning of a fruitful relationship that she hoped would result in new businesses from Canada setting up at the LFZ.

She described the zone, which is promoted by Singapore-based Tolaram as the first privately owned special economic zone in Nigeria, covering 860 hectares.

According to her LFZ is unique in its focus on delivering ease of doing business, giving businesses a competitive edge.

She shared that the zone is a thriving destination for new investments and has already attracted over $2.75 million in capital.

Rojas-Arbulu said 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 foreign exchanges.

He acknowledged that Canadian investments have typically been region-specific but noted that the strong infrastructure at LFZ presents a valuable opportunity to attract more Canadian companies.

On his part, Zaya Kuyena, Trade Commissioner at the Deputy High Commission of Canada lauded the zone’s infrastructure, adding 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.

Leave a Reply

Your email address will not be published. Required fields are marked *