The Lagos Free Zone (LFZ), Nigeria’s first privately-owned free zone, is positioning itself as a hub for the expansion of German businesses in Nigeria and across West Africa. This was announced by LFZ CEO, Mrs. Adesuwa Ladoja, during her address at the 11th German Nigerian Business Forum (GNBF) in Lagos on October 7, 2024.
Supporting German Business Growth
Mrs. Ladoja emphasized that LFZ offers an integrated ecosystem designed to help businesses maximize opportunities while reducing risks. The zone stands out as the only free zone in Nigeria connected to a deep-sea port, offering world-class infrastructure and facilities to drive business success.
She described LFZ as a strategic partner for German businesses, highlighting the strong trade ties between Nigeria and Germany, valued at $3 billion in 2023. BASF, a major global company, has already established operations in the zone, showcasing the benefits of leveraging LFZ for growth in Nigeria’s industrial sector. “BASF’s operations in LFZ strengthen its competitive edge while supporting Nigeria’s economic diversification,” Mrs. Ladoja said.
Encouraging investors, Mrs. Ladoja urged them to view Nigeria as a strategic launchpad for growth, not just a market. She referenced Tolaram, LFZ’s parent company, which has been a pioneer in unlocking opportunities in Nigeria with successful consumer brands and major infrastructure projects.
Mrs. Ladoja also stressed the importance of long-term commitment, local presence, and empowered management for success in Nigeria. “Investors should build a strong local presence and a robust supply chain to manage logistics effectively,” she advised, adding that Tolaram’s workforce of 20,000 and its decentralized management model have been key to adapting to market demands.
“Investing in Nigeria is about building long-term partnerships that create mutual value,” Mrs. Ladoja emphasized. She pointed to the forum as a critical platform for fostering collaboration and connecting German companies with growth opportunities.
During a panel session on agribusiness and food manufacturing, Mrs. Ladoja noted that LFZ has attracted $2.75 billion in global investments. The panel also featured Lagos State’s Commissioner for Agriculture, Ms. Abisola Olusanya, Chi Farms Executive Director, Johannes Flosbach, and Afos Foundation’s Dietmar Speckmaker.
Mrs. Ladoja’s address underlined LFZ’s commitment to supporting German businesses, providing them with the tools needed to thrive in Nigeria and beyond. With strategic infrastructure and a business-friendly environment, LFZ is positioned to drive sustainable growth in the region.
