By Aluta News
Oct. 17, 2021
The Nigeria Export Processing Zones Authority (NEPZA) has described Lagos Free Zone’s listing as “Highly Commended Free Zone in Africa” by Financial Times FDI Magazine as fallout of Federal Government’s sustained sector reform.
Prof. Adesoji Adesugba, Managing Director of NEPZA, made this known on Sunday in a statement by Mr Martins Odeh, Head, Corporate Communications, NEPZA in Abuja.
Adesugba said LFZ’s defeat of other world class free Zones on the continent equally stemmed from adoption of world class corporate governance system.
“This award is therefore a significant milestone in the advancement of the Lagos Free Zone being recognised at parity with the selected best free zones globally, this will help in attracting foreign investments into the economy.
“This recognition goes to show that the President Muhammed Buhari’s vision and policy for a rejuvenated zones operations are beginning to yield the desired results.
“NEPZA is sure of the capacity of the sector to reignite the country’s economy.
“Let me, therefore, on behalf of the NEPZA management team and the entire workforce congratulate the LFZ management for this great outing,” Adesugba said.
The NEPZA boss, however, reiterated that the zone had shown long term strategic thinking as it re-prioritised its priority industry sub-sectors as the world moved toward shorter supply chains.
LFZ, developed by the Singapore-based conglomerate, is the first private and port-integrated free zone in the country.
It is a multi-cluster Zone with world class infrastructure conceptualized as a modern and efficient Industrial hub.
NAN