Region
Lagos
Nigeria
Sector
Agriculture and Agri-processing
Clothing and Textiles
Construction and Materials
Electronics
Food and Beverages
Forestry & paper
Manufacturing
Mining & Metals
Oil and Gas
Pharmaceuticals & Health Care
Property
Retail
Tourism & Leisure
Summary:
The Lekki Free Trade Zone in Lagos State is a perfect location for investors interested in agri-processing, clothing and textiles, food and beverages, forestry, mining, pharmaceuticals, retail, housing and tourism.
Description
As part of its transformative agenda and desire to harness the investment and business potential of the state, the Lagos State Government has decided to establish the Lekki Free Trade Zone (FTZ).
Goal of the Lekki FTZ
The ultimate goal of this project is to create a new model city and a mega industrial, commercial, financial, tourism and recreational hub – a cutting edge centre for international business collaborations. Construction on the first phase of the project is already underway.
Investment Opportunities
The Lekki FTZ is an ideal location to set-up manufacturing businesses in all sectors. There are openings and access to a plentiful supply of raw materials for
investors in fields such as agri-processing, clothing and textiles, food and beverages, forestry, mining and pharmaceuticals.
Opportunities in commerce, retail, housing and tourism also abound. The beaches adjoining Lekki's lagoon and oceanfront are the site of considerable activity already, with a golf course under construction and plans in place for various hotels, beach resorts and private villas. Fitness and spa centres and conference facilities are also planned, with a five-acre mixed development (one, two and three-bedroom apartments) designed to house employees of the various hospitality ventures.
Competitive advantages of the Lekki FTZ
Access to the largest consumer market in Africa with over 500
million potential customers in both Nigeria and surrounding countries
Generating profit to its maximum extent by utilising Nigeria's abundant natural resources such as oil, natural gas, timber, rubber, cocoa, gum arabic, sesame seeds, fruits, etc.
Favourable geographical and ascendant location to the Atlantic Ocean from where to export products to the rest of Africa, the Middle East, Europe and the Americas
Providing a perfect development platform for investors by using the company-orientated operation mode
Modern infrastructure such as an airport and seaport
One stop approval of all permits, operating licenses and incorporation papers
Preferential policies and incentives to investors
100% foreign ownership of investment and joint venture entities allowed in the zone
100% repatriation of capital, profits
and dividends out of Nigeria
Import or export licenses not required by enterprises operating in the zone
Customs duty-free and no quota restriction for all imported raw material products, machinery & equipment, consumer goods, as well as any other goods for investment projects in the zone
No strikes and lock-outs permitted in the zone
100% of the finished products manufactured, assembled or produced in the zone can be sold into the Nigerian domestic market
Exemption from all taxes, customs duties and levies from the Federal, Lagos State and Local Governments
No quota on products exported from the Lekki FTZ to the European Union or the United States
Goods manufactured in Nigeria are entitled to preferential tariffs in the EU, as Nigeria is a member country of the Lome convention
Investors interested to invest
in the Lekki FTZ should contact:
Lekki Worldwide Investments Limited
Contact: Mr T.A.B. Disu - Managing Director
Email: infonigeria@gan.co.za
