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Lagos Free Zone To Get Fresh Investments From France

Ololade Omosan-Agie

French Foreign Trade Advisors have expressed readiness to invest massively in the Lagos Free Zone being developed by the Tolaram Group as they endorsed the zone as the ideal industrial destination for French businesses in Nigeria.

According to a statement issued by the LFZ on Sunday, the Conseillers du Commerce Exterieur made this known during a visit to the zone led by the Ambassador of France to Nigeria, Jerome Pasquier.

Pasquier explained that the aim of the visit was to discover the opportunities in the LFZ and the Lekki Port project, which were expected to have positive impacts on businesses in Nigeria.

He commended the promoter of the zone, the Tolaram Group, for the integration of Lekki Port into the master plan of the LFZ to serve as the gateway for import and export from the zone, thereby giving businesses in the zone a competitive edge.

The ambassador also lauded the LFZ for its master plan for the zone which included infrastructure that was in line with its vision to be the preferred industrial hub and investment destination in West Africa.

Pasquier said, “I am impressed by the huge size of the Lagos Free Zone project. We are very happy that the French companies will be deeply involved in this project. It is really impressive to see how ambitious it is.

“The French minister was in Nigeria yesterday and I explained to him that Nigeria is a country where we can have big projects.

For us, this project means big opportunities and that explains why we need to be here. We are happy to be here and work with Tolaram Group.”

In his remarks,  the Chief Executive Officer, LFZ, Dinesh Rathi, assured the Ambassador of France and the Conseillers du Commerce Exterieur that the zone remained the best destination for investment in Nigeria and the West African sub region given the seamless integration with Lekki Port and its infrastructure.

Explaining the configuration of the zone, Rathi stated that the land-use plan of the zone allocated 70 per cent area towards industrial developments, 20 per cent towards logistics and support services while the real estate would cover the remaining 10 per cent.

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