LFZ eyes Canada partnership to attract investments

The Lagos Free Zone has called for increased collaboration with the Deputy High Commission of Canada to attract foreign direct investment.

According to a statement, the Chief Executive Officer of Lagos Free Zone, Adesuwa Ladoja, made this known in Lagos during a recent visit by a delegation from the Canadian Deputy High Commission, led by Deputy High Commissioner Carlos Rojas-Arbulu.

Ladoja described the visit as the start of a mutually beneficial relationship and expressed optimism about Canadian businesses establishing operations in the Zone.

“Lagos Free Zone offers many competitive advantages and incentives for investors interested in locating their businesses here,” she said.

Ladoja added that the Zone, promoted by Singapore-based Tolaram, spans 860 hectares and is designed to enhance the ease of doing business, noting “Businesses in the Zone enjoy single-window clearance for regulators, enabling infrastructure, the opportunity to live, work, and play, as well as access to global markets.”

Further, Ladoja highlighted the integration of the Lagos Free Zone with a deep-sea port as a unique feature, saying “This is the only Zone in Nigeria with such integration, giving businesses here a competitive edge.”

She also disclosed that LFZ was Nigeria’s first privately owned special economic zone and has attracted over $2.75m in employed capital, positioning it as a hub for new investments.

Deputy High Commissioner Rojas-Arbulu, in his remarks, praised the quality and scale of operations at LFZ.

He expressed a commitment to fostering collaboration that would drive bilateral exchanges.

“The strong infrastructure at the Lagos Free Zone offers Canadian companies a soft landing to enter the Nigerian market,” he said.

While acknowledging that Canadian investments have often been region-specific, Rojas-Arbulu said LFZ’s incentives and expertise present a unique opportunity.

The Canadian Deputy High Commissioner encouraged LFZ management to intensify marketing efforts to build trust and attract investors, stressing “We want Canadian companies to explore this market soon.”

He also recommended that LFZ officials visit Canada to showcase the Zone’s potential to Canadian investors.

Trade Commissioner at the Canadian Deputy High Commission, Zaya Kuyena, who was part of the delegation, echoed similar sentiments.

Kuyena lauded the Zone’s world-class infrastructure and strong logistics capabilities, stating “With all elements of the supply chain supported, the Zone is ideal for foreign companies seeking to establish operations or expand exports.”

He urged the Zone’s management to amplify its awareness campaigns and highlight its export potential to attract global businesses.