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The United States Diplomatic Mission in Nigeria has expressed its commitment to driving foreign direct investment to the Lagos Free Zone, Nigeria’s first private special economic zone. This assurance was made by U.S. Ambassador to Nigeria, Richard Mills Jr., during a visit by a delegation from the U.S. Embassy and Consulate General in Nigeria to the LFZ.
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The Lagos Free Zone, located in Lagos State, is promoted by Singapore-based Tolaram and covers an area of 860 hectares, equipped with world-class infrastructure and a single clearance window for ease of doing business. Mills Jr. stated that his team would encourage more U.S. companies to consider investing in the Lagos Free Zone, adding that the forthcoming 2025 U.S.-Africa Business Summit in Angola offers a platform to meet with U.S. investors and companies.
“I am impressed with the master plan for the Zone, the infrastructure, and the level of investment here at the Lagos Free Zone, and it is gratifying to see major American companies and brands such as Kellogg’s and Colgate already having operations in the Zone,” Mills Jr. said. He expressed surprise that many Nigerian businesses had yet to take advantage of the African Growth Opportunity Act, which was enacted 25 years ago
The CEO of Lagos Free Zone, Mrs. Adesuwa Ladoja, described the Zone as the most preferred investment destination with world-class infrastructure and incentives. “LFZ’s ecosystem is self-sustaining with facilities such as the integration of Lekki Port, warehouses, standard factories, Compressed Natural Gas, a fire station, broadband network connectivity, a helipad, a medical facility, solid waste management, a residential tower, a security command centre, and an industrial training centre,” she explained.
Ladoja stressed the need for the United States diplomatic community to assist by convincing American businesses and investors to consider the Zone as their investment destination of choice. She noted that the Zone has been instrumental in driving exports in Nigeria, with many businesses taking advantage of trade initiatives and agreements, including the African Continental Free Trade Agreement.
The CEO expressed appreciation to the Federal Government for its support and disclosed that the ongoing construction of the Lagos-Calabar Coastal Highway and the proposed rail alignment would further boost cargo evacuation from the Zone
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