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Press Release: NEPZA boss describes Sanwo-olu’s re-election as repayment for hard-work, says LFZ to fast-track industrialization of Lagos

special attention is being given to the promotion of the Lagos Free Zone (LFZ) to achieve the needed global investment profile to

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Prof. Adesoji Adesugba, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), says special attention is being given to the promotion of the Lagos Free Zone (LFZ) to achieve the needed global investment profile to aide widespread industrialisation of the state.
Adesugba, also the Chief Executive Officer of the Authority, made the remark while congratulating the Lagos State Governor, Babajide Sanwo-olu on his re-election as governor of the state at the last Saturday’s poll.
Adesugba stated that Sanwo-olu’s victory was well-deserved, pointing out that it was a vindication of his hard-work, commitment and relentless service to the state.
The managing director further said that the governor was known to be a champion of free zones and had firmly keyed to it as a strategy for economic development.
The NEPZA boss also praised the governor’s efforts at the spate at which the Lekki Free Zone axis had developed in recent times.
“I am confident that the governor shall do much more in his second term and we all at NEPZA wish him the very best,’’ Adesugba said.
He explained that NEPZA had digitized its processes to vigorously promote the potentials of the country’s free zones, adding that the Lagos Free Zone was getting a significant attention from international investors.
Adesugba stated that the Authority had deliberately positioned the Lagos free zone for speedy growth, adding that the preference hinged on the strategic position the free zone occupied in the development template of the state.
“The entire Lekki area of Lagos where some of the world class free zones are sited has been described as the country’s promised land.
“NEPZA will continue to maintain this warm cooperation with the Lagos State Government to sustain the inflow of investments into the state and our nation as a preferred destination for foreign investments.
“I recently received Mr Wang Ying Qi, a Minister Counsellor at the Chinese Embassy who led some Chinese potential investors seeking to explore the free trade zone space. We have already positioned the Lagos Free Zone to benefit from this proposed multi-billion-dollar investment,’’ he said.
Martins Odeh PhD
Head, Corporate Communications, NEPZA
20th March, 2023

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