Lagos Free Zone, a subsidiary of Tolaram and the first privately owned free zone in Nigeria, recently hosted a delegation of the Consulate of the Kingdom of Netherlands led by the Consul General, Michel Deleen, as part of the drive to woo Dutch investors to the Zone.
Welcoming the delegation to the zone on Wednesday, July 12, 2023, the Chief Executive Officer, Lagos Free Zone, Dineshi Rathi, who was represented by the General Manager, Power and Gas, Lagos Free Zone, Prem Krishna, described the zone as the preferred investment destination in Nigeria, urging Dutch investors to take advantage of the unique opportunities and incentives available.
According to him, the zone has several investment-friendly incentives meant to attract investors and enable them thrive while doing business in Nigeria. He noted that with the integration of Lekki Deep Sea Port, which had commenced commercial operations in April 2023, the Zone is set to become a catalyst for Nigeria’s economic prosperity.
He explained further that the Zone, which covers an area of 850 hectares of land, has a self-sustainable business ecosystem that includes warehouses, standard factories, a logistics hub, a fire station, broadband network connectivity, residential developments, a medical facility, solid waste management, and an independent natural gas-based power source.
“There are a lot of competitive business advantages you can get in locating your business in the zone. We have a wide range of facilities and enabling infrastructure that would make your business thrive and guarantee huge returns. There are a lot of fiscal and non-fiscal incentives available for investors who want to do their business within the Zone. These incentives include single-window clearance for regulators, the opportunity to live-work-play, cost-effective and reliable power solution, access to global markets and tax exemptions,” he said.
In his remarks, the Consul General of the Kingdom of Netherlands, Michel Deleen, said the purpose of the visit is to witness first-hand the level of investment opportunities available in the zone. He noted that the team is highly impressed with the quality of the infrastructure in place.
“We are highly impressed with what we have seen so far and can confidently engage with investors from our country to come and invest in Nigeria. Coming to the Zone has allowed us to discuss the possibility of looking at Dutch companies that might be interested in establishing manufacturing operations in Nigeria. We have seen many incentives that would encourage them to come. Nigeria has a huge market and has the volume in terms of population,” he said.
He stressed the need for the company and Nigeria to do a lot more in marketing opportunities available at the zone, especially now that Africa Continent Free Trade Agreement is billed to come on stream soon.
“It is just a matter of bringing the proposition out to show to potential investors who want to produce in Nigeria for the Nigerian and ECOWAS markets, especially with implementing the African Continental Free Trade Agreement. From what I have seen here, we would organize trade events and link up companies and investors, and it is now up to the companies to decide when they will come. Nigeria is really proving to be the next frontier of investment in Africa, given the quality of infrastructure we have seen here,” he added.
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