EU Companies seek Investment, survey Lagos Free Trade Zone

The Lagos Free Trade Zone (LFTZ) has received members of the European Business Chambers (EuroCham) who are exploring the facility for investment to expand their businesses in Nigeria and by extension Africa.

Led by the President of EuroCham Mr Adefolu Majekodunmi, the delegation said their visit to the LFTZ was to explore opportunities available to European companies that are looking to simplify their investment and operations in Nigeria.

The LFTZ, a multiproduct and logistics hub is located in the Ibeju-Lekki area of Lagos state and is well connected by road, sea and air.

Speaking during the visit Adefolu said that European businesses were already showing interest in settling down in Nigeria to do business.

“I expect to see all organisations that are visiting today set up their businesses within the Lagos Free Trade Zone”, Adefolu said. He also said that he hoped the delegates’ experience within the facility had been worthwhile and helped to solidify their decision.

The Managing Director of BASF Operations LFTZ Enterprise, Mr Taiwo Ilesanmi said he was impressed by the Lagos Free Trade Zone team. Commending them, Ilesanmi said they not only acted responsibly throughout the visit but were always around to assist.

There are plans to make the zone into a modern small city leveraging the latest technology. The management of the Lagos Free Trade Zone is currently working with a leading telecom and network solutions provider to connect the entire zone and make it digitally enabled.