Lagos Free Zone conferred with W’African Brands Excellence Awards
By Taiwo Osho
Lagos Free Zone, the first privately-owned zone in Nigeria, has emerged Best Free Trade Zone in West Africa at the West African Brands Excellence awards held recently in Lagos. The award was conferred on Lagos Free Zone during an event organized by the Institute of Brand Management of Nigeria (IBMN) to recognize extraordinary achievements by businesses in the year under review across the sub-region.
Speaking on the criteria for selection, Ifeoma Emeka, the convener of the award, who also doubles as the Deputy Registrar, IBMN, explained that Lagos Free Zone was selected as the winner in the category following a rigorous and in-depth evaluation of nominees by a network of respected jurors.
She explained that the choice of Lagos Free Zone as Best Africa Trade Zone was undisputed given that it has become a big vehicle for promoting economic development in Nigeria and West Africa, especially with the influx of new businesses and increased economic activities within the Ibeju-Lekki axis.
“The Lagos Free Zone is a great vehicle for foreign direct investment (FDI) needed to drive economic development. In the last few years, the Zone has provided a sense of reassurance for investors by offering incentives and world-class infrastructure that would help them to achieve good returns,” he said.
Commenting on the recognition, Dinesh Rathi, the Chief Executive Officer, Lagos Free Zone, stated that the honour underlies the growing profile of the company as the best destination for investment not only in Nigeria but West Africa as a whole.
Rathi stated that the award is a testament to the commitment of the entire team to contribute towards the economic prosperity of the subregion.
While expressing profound appreciation to the team for the incredible achievement, he noted that the Lagos Free Zone would continue to facilitate the flow of products, services, and investments across West Africa.
Established in 2012, Lagos Free Zone (LFZ) is a unique and award-winning port-based industrial zone (850 hectares) in Lagos, Nigeria, with over USD 2.5 billion committed FDI projects to date. Owned and promoted by Tolaram, LFZ is located in Lekki, the sunrise development corridor in Lagos. Our vision is to be the preferred industrial hub in West Africa with world-class infrastructure, and we are proud to serve global brands like BASF, Kellogg’s, Colgate, Arla, Dufil, and Lekki Port, among others, as our current tenants. Lekki Port at LFZ started operations in April 2023. It is the deepest seaport in Nigeria, with a draft of 16.5m and the capacity to handle 1.2mn TEUs per annum.
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