As Nigeria’s first privately owned free zone, Lagos Free Zone is positioned to support the growth journey of German companies in Nigeria and the entire West African region.
The Chief Executive Officer of Lagos Free Zone, Mrs. Adesuwa Ladoja, spoke at the 11th German-Nigerian Conference titled “Building Effective Partnerships for Successful Business Development” held in Lagos on Monday. This was revealed in a goodwill speech at the National Business Forum (GNBF). October 7, 2024.
LR: Professor Chinwe Obaku, Consultant and Technical Team Leader on Climate Change and Renewable Energy, Osun State Government. Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, Mrs. Titi Oshodi; Mr. Bastian Rizba, Representative for German Industry and Commerce in Nigeria; Chief Executive Officer, Lagos Free Zone, Mrs. Adesuwa Ladoja; Mr. Johannes Lehne, Deputy Ambassador of the Embassy of the Federal Republic of Germany in Nigeria, and Mr. Igbuan Okaisabor, President of the Nigeria-German Chamber of Commerce and Industry, presented the 11th session titled “Building Effective Partnerships for Successful Business Development” Attending the Germany-Nigeria Business Forum” held in Lagos today.
Mrs. Ladoha said the Lagos Free Zone offers a comprehensive ecosystem where businesses can maximize opportunities with minimal risk. According to her, it is the only free zone in Nigeria that is integrated with a deep-sea port and is equipped with world-class infrastructure and facilities to help businesses thrive.
Recognizing the fact that LFZ continues to be a strategic partner committed to the prosperity of German companies in Nigeria, given the trade volume between the two countries estimated at $3 billion in 2023, she reiterated its long-standing relationship with BASF. A typical example of the results was given. Investments in the Lagos Free Zone demonstrate how businesses can leverage the ecosystem for strategic growth.
“By establishing operations in the free zone, BASF strengthens its competitiveness while fully aligning with Nigeria’s industrialization and economic diversification ambitions,” she said.
She went on to encourage prospective investors to look at Nigeria not just as a market, but as a strategic starting point for the next stage of growth.
Describing Tolaram, the parent company of Lagos Free Zone, as one of the pioneers in Nigeria, the CEO of Lagos Free Zone said the conglomerate has 20 successful consumer brands and two innovative He explained that the infrastructure has opened up many growth opportunities for Nigeria's manufacturing and infrastructure sector. Projects already in place.
Pointing out that factors such as local presence, localized value chains, long-term commitment, and empowered management teams are key for investors and companies to grow in the Nigerian market, he said. He advised the House to stop looking at Nigeria only as a trade and export destination, but to see it as a place. Develop a strong local presence and a stronger supply chain to manage input and production logistics to enable sustainable success.
He cited the example of Tolaram, a company with 20,000 employees in Nigeria, where each business unit is empowered to make decisions independently, and where the business is run by an empowered management team. He emphasized the need to do so, saying it would allow the team to adapt to evolving dynamics. of the market.
“Investing in Nigeria is not just about entering the market and making quick profits. It is about building long-term partnerships to create enormous mutual value,” she added.
He said such forums remain important in fostering cooperation and connecting German companies with suitable growth opportunities.
In a panel session titled “Agribusiness, Food Manufacturing and Processing”, the Lagos Free Zone CEO also reiterated the need for investors to capitalize on the opportunity, noting that the zone has so far received about 27 It said it has attracted $50 million in investment. part of the world.
The panel session included an impressive panel of speakers, including Honorary Agriculture Commissioner of Lagos State, Ms. Abisola Olusanya, Executive Director of Kai Farms, Mr. Johannes Frosbach, Founder of Gartner Calaway, Mr. Yomi Williams, Afosu Foundation expert, Mr. Dietmar, etc. We have a lineup of speakers. spec manufacturers etc.
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