Special Economic Zone

Inside Nigeria: Discover the Lekki Free Trade Zone

May 24, 2023

The Lekki Free Trade Zone (LFTZ) is a special economic zone located in the Lekki Peninsula area of Lagos, Nigeria. The LFTZ was established to promote economic growth and development in Nigeria by attracting foreign and domestic investments.

In this article, we'll explore the investment opportunities, infrastructure, facilities, incentives, and challenges of the Lekki Free Trade Zone.

About Lekki Free Trade Zone

The Lekki Free Trade Zone (LFTZ) was established by the Lagos State Government in 2006 to promote economic growth and development in Nigeria. It was designed as a multi-sectoral economic zone to attract domestic and foreign investments to the country.

The Lekki Free Trade Zone has expanded ever since it was established with over 150 companies in the zone at the moment, drawing both domestic and international investors from all over the world. The LFTZ has top-notch facilities, infrastructure, and unique incentives for investors to lower the cost of doing business in the zone.

The LFTZ is a great place for companies engaged in import and export activity considering so many amenities such as; independent power supply, water treatment facility, and transportation system. It has designated areas for different types of businesses, such as the industrial zone, commercial zone, and residential zone6

Key Players of the Lekki Free Trade Zone

The Lekki Free Trade Zone is a joint venture between the Lagos State Government and China-Africa Lekki Investment Ltd (CALIL), formerly referred to as CCECC. 

Other key players in the Lekki Free Trade Zone include investors and businesses that have established operations within the zone.The LFTZ is home to over 150 companies from various sectors, including manufacturing, logistics, and services. 

In addition to these important actors, the LFTZ has drawn financial institutions and other providers who provide assistance to companies operating there. These include banks, insurance companies, legal firms, and logistics service providers. 

The LFTZ has a dedicated business park that provides office space and business support services to companies looking to establish operations within the zone.

What area is the Lekki Free Trade Zone located in?

The Lekki Free Trade Zone (LFTZ) is located in the Lekki Peninsula area of Lagos State, Nigeria. The LFTZ covers an area of 16,500 hectares and is situated along the Lagos-Epe Expressway, a major transportation route in Lagos State.

The strategic location of the LFTZ provides easy access to Lagos, Nigeria's commercial hub, and other major cities in the West African sub-region.

Who created the Lekki Free Trade Zone?

The Lekki Free Trade Zone (LFTZ) was created in 2002 by the Lagos State Government in Nigeria as a multi-sectoral economic zone to support Nigeria's economic growth and development.

The LFTZ was designed to be a top-tier special economic zone with cutting-edge facilities, infrastructure, and unique incentives for investors to lower the cost of doing business there.

What is the benefit of the Lekki Free Trade Zone?

The Lekki Free Trade Zone (LFTZ) offers numerous benefits to investors and businesses that establish operations within the zone currently and later in the future. Here are some of the key benefits of the LFTZ:

  1. Tax Incentives

  1. World-Class Infrastructure

  1. Easy Access to markets

  1. Abundant Resources

  1. Skilled Workforce

Who can operate in the Lekki Free trade Zone?

The Lekki Free Trade Zone (LFTZ) is open to domestic and international investors from a variety of industries who seek to set up activities and businesses there. The LFTZ is a multi-sectoral economic zone that accommodates a wide range of industries. 

The following are some of the major sectors that are currently active in the LFTZ:

  1. Manufacturing companies

  1. Logistics and transportation companies

  1. Energy businesses

  1. Real Estate Companies

  1. Financial Services

List of Companies in the Lekki Free Trade Zone

The Lekki Free Trade Zone (LFTZ) is home to over 150 companies from various sectors. Here are some of the companies that currently operate in the LFTZ:

  1. Dangote Refinery

  1. Lekki Port

  1. Kellogg’s Nigeria

  1. Lagos Deep Offshore Logistics Base (LADOL)

  1. Starium (BUA Group) Detergent Factory

  1. Kaptain Foods 

These are just a few of the many companies that currently operate in the LFTZ. The zone continues to attract both local and foreign investment, and it is expected to play a significant role in the economic development of Nigeria and the West African sub-region.

Bottom Line

The Lekki Free Trade Zone (LFTZ) is a world-class economic zone that offers a wide range of investment opportunities for both local and foreign investors. With state-of-the-art infrastructure, tax incentives, and a favorable business climate, the LFTZ provides a conducive environment for businesses to thrive.

The zone is home to over 150 businesses from various industries, and it is rapidly growing to become a major engine of economic development in Nigeria and the West African region. Whether you are a multinational corporation or a small business, the LFTZ is definitely a place to consider for your investment and expansion plans in Nigeria.

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