The Lekki Free Commerce Zone is at the moment internet hosting 53 enterprises, using roughly 4,000 employees.
This data was shared by John Zhao, an official from the China Civil Engineering Development Company (CCECC), by way of his X web page on Monday.
In keeping with Zhao, the LFZ is contributing to Nigeria’s international alternate.
Native Economic system
Zhao said that the zone, which is developed by CCECC, is already advancing the economic system of Lagos State and Nigeria as an entire.
“The flower of cultural alternate is certainly blooming in Lagos, Nigeria. The sixth China-Nigeria Employees’ Video games lately passed off on the Lekki Free Commerce Zone, which is developed and operated by CCECC.
“The occasion featured soccer, desk tennis, and the normal Nigerian soar ball, with over 500 staff from the zone enthusiastically collaborating.
“Overlaying an space of 30 sq. kilometers, the Lekki Free Commerce Zone not solely boosts Nigeria’s international commerce but additionally injects new power into the native economic system. At present, 53 enterprises are working throughout the zone, using a complete workforce of 4,000 staff,” he said, assuring that CCECC will proceed to play a optimistic position within the nation’s economic system.
What You Ought to Know About Lagos Free Commerce Zone
The Lagos Free Zone (LFZ) is a Free Commerce Zone in Lagos, Nigeria.
Overlaying 830 hectares, the zone is built-in with the Lekki Deep Sea Port and is situated 60 kilometers east of Lagos metropolis.
- In July this yr, the Lagos Free Commerce Zone reported producing N115 billion in income from January to June 2024.
- Established in 2012, the Lagos Free Zone (LFZ) is a novel and award-winning, port-based industrial zone (850 hectares) in Lagos, Nigeria, with over USD 2.5 billion in dedicated FDI tasks on the time.
- Owned and promoted by Tolaram, LFZ is situated in Lekki, with China-Africa Lekki Funding Ltd (CALI) being a significant stakeholder within the infrastructure improvement of the zone.
- Like different free zones, firms in LFZ can promote their items throughout the Nigerian customs territory with out state or federal taxes and with out the necessity for import or export licenses. They’ll additionally repatriate their earnings and dividends.
- Raffles Oil and Insignia Techniques, Inc. had been the primary and second firms to determine operations within the zone, respectively.
LFZ falls underneath the jurisdiction of the Lagos State Authorities, which offered the land for the zone. It began in 2002 with 215 hectares, and in 2012, the state authorities allotted an extra 590 hectares.
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