Lagos Free Zone Wins Global Free Zones Awards

Lagos Free Zone (LFZ), the first deep sea port-based private free trade zone in Nigeria has won Industrial Champion category of the Global Free Zones of the Year 2023 awards by the fDi Intelligence, a service from the Financial Times. The fDi Intelligence monitors global greenfield foreign direct investments across sectors.

The award is in recognition of the leading industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa. According to the special report released by fDi Intelligence recognizing the world’s best free zones for FDI, LFZ was recognized as the inaugural winner of Africa’s industrial champions category on account of its integration with a deep sea port that receives container vessels from around the world, creating new opportunities for manufacturers looking to export their goods.

 Managing Director at the Nigeria Export Processing Zones Authority, Dr Olufemi Ogunyemi, said; “We are deeply excited about this development and congratulate the Lagos Free Zone team for their efforts. This recognition further strengthens NEPZA’s commitment to driving the Renewed Hope agenda with free zones as the cornerstone of our approach to drive investments into the country. We will continue to provide a conducive environment for businesses to thrive and contribute to our nation’s prosperity. We are excited about the opportunities that lie ahead”.

In his remarks, the Chief Executive Officer, Lagos Free Zone, Dinesh Rathi described the award as a testament to the commitment of the promoters to attract global manufacturers by providing a world-class industrial ecosystem and thereby create employment opportunities for Nigerians.

Rathi noted that the company is extremely delighted at the recognition and would continue to take giant steps that would attract both local and foreign investments in the manufacturing sector.