NEPZA seeks private participation in LFZ to boost development
The Managing Director, Nigerian Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has called for private sector participation at the Lagos Free Zone (LFZ), for accelerated economic development.
He said this when the agency visited the Zone and the Lekki Deep Seaport, adding that it was crucial for the government and private sector to promote investment in the Zone.
Adesugba said the LFZ remained committed to enhancing the ease of doing business in Nigeria, noting that NEPZA as an agency of government is working towards ensuring full industrialisation using the template of the free zones.
He commended the Chief Executive Officer of LFZ, Dinesh Rathi, and his team for a great tour of the site and the level of development at the Zone, added that the agency would upgrade the investment promotion unit of NEPZA to a full-fledged department.
“It is also important to stress that irrespective of legislation, the purpose and the mandate given to the free zone is that it must be a tax free zone. Therefore, no matter the complications, we have to make sure that ours is not different to others,” he said.
Lagos Free Zone owned by Tolaram Group, is home to several brands such as Kellogg’s, Dano Milk, Power Oil, Colgate, BASF, and many more. With world-class infrastructure and a host of operational advantages, the Zone intends to be the preferred industrial hub in Nigeria to cater to the growing needs of consumers in sub-Saharan Africa.
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