February 23, 2018

Lekki FTZ targets 500 million consumers in West Africa


Lekki Free Trade Zone (LFTZ) has said it’s targeting over 500 million consumers in West Africa as the primary consumers of its products and services. This is even as the Minister of Trade and Investment, Olusegun Aganga, says the zone needs infrastructures to succeed.

The Deputy Managing Director of Lekki Free Trade Zone Development Company, Mr. Adeyemo Thompson, said that the zone aims to provide the largest consumer market in Africa with over 500 million potential consumers in both Nigeria and the neighbouring countries.

Of this figure, Nigeria would account for 150 million consumers while the rest countries in the region are expected to acount for 350 million consumers.

“The zone provides a favourable geological location from where to export products to the rest of Africa, the Middle East, Europe and America,” Thompson said.

However, the Minister who spoke during the LFTZ Investment Forum and this year’s edition of  Eko Expo held at the Zone, challenges Lagos State government and the consortium of Chinese investors to connect a direct gas pipe line into the zone for the generation of power, noting that this was a major requirement for the sustainability of the zone.

He commended the management for having attracted a total of $1.1 billion (N170.5 billion) investment commitment from 48 investors into the zone; the technology it had brought and the jobs that had been created till- dates.


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