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LCCI supports efforts to boost investment in free zone

The Lagos Chamber of Commerce and Industry has pledged its support to drive investments into Lagos Free Zone.

A statement said the President, LCCI, Dr Michael Olawale-Cole, made the pledge during a visit by LCCI executive members to Lagos Free Zone in Ibeju Lekki, Lagos.

Olawale-Cole commended the management of the Lagos Free Zone and the promoters, Tolaram, for the sustainable business model, which he said had earned it a strong social licence and reputation within the business community in Nigeria and globally.

He said, “LCCI is Nigeria’s foremost business organisation, operating for over 130 years and with more than 60 per cent of Nigeria’s commercial sector being members of the organisation.

“Today, we have visited this zone, and we are very impressed with what we have seen. LCCI being the voice of the organised private sector, we would extend our support in driving investments into the zone.”

The Managing Director/Chief Executive Officer, Lagos Free Zone, Mr Dinesh Rathi, described the visit as symbolic and a step in the right direction in gaining trust and buy-in from Nigeria’s booming corporate commercial sector.

He said, “The Lagos Free Zone is rightly positioned to service the needs of Nigerian indigenous businesses as well as international businesses who are members of the organisation.

“Apart from the fact that the zone offers unmatched remarkable advantages for corporate sector investors, its integration with the Lekki Deep Sea Port is a unique differentiator. The zone is well-positioned to be the foremost investment destination for manufacturing and logistics sectors today.”

According to Dinesh, Lekki Port, a project of deep relevance to the growth of the sub-Saharan African economy, is situated within Lagos Free Zone.

“Once it becomes fully operational by the last quarter of 2022, it will fully activate the African Continental Free Trade Area by facilitating regional distribution and transshipment,” he added.

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