LEKKI FREE ZONE DEVELOPMENT COMPANY SPONSORED THE NIGERIA-SOUTH AFRICA CHAMBER OF COMMERCE MAY EDITION OF THEIR BREAKFAST MEETING

From left: Ade Otukomaya (Controller Lekki Free Zone Dev. Coy), Yomi Ademola (MD of Alero City FZC), Mrs. Bolatito Ajibode(DMD Lekki Free Zone Dev. Coy), Mr. Osayaba Giwa-Osagie SAN(Chairman Nigeria-South Africa Chamber of Commerce), Mr. Foluso Phillips (Chairman of Phillips Consulting Limited)

The Lekki Free Zone Development Company (LFZDC) sponsored the Nigeria-South Africa Chamber of Commerce breakfast meeting held at Iris Hall, Eko Hotel & Suites, Adetokumbo Ademola Street, Victoria Island, Lagos on Thursday, 25th of May 2023.

The breakfast theme, "Leveraging on the Free Zone Scheme as a Catalyst for Nigerian Economic Growth. The Lekki Free Zone Story" aimed at exploring the potential of free zones in promoting economic growth and development in Nigeria and South Africa.

The panellists comprise Mr. Prem Krishna (GM Power & Gas, Lagos Free Zone), Mr. Yomi Ademola (MD Alaro City FZC), Mr. Yann Magarian (CEO Lekki Free Port Terminal), Mrs. Bolatito Ajibode (DMD Lekki Free Zone Dev ) and Dr. Tunde Sodade (MD Lekki Worldwide Investments Limited). And they all unanimously agreed that the Free Trade Zone will not only promote economic growth but it will also encourage and allow small business owners to grow.

From Left: Mr. Prem Krishna(GM Power & Gas, Lagos Free Zone), Mr.Iyke Ejimofor (Executive Secretary Nigeria-South Africa Chamber of Commerce), Mr. Ade Otukomaya(Controller Lekki Free Zone Dev. Coy), Mr. Yomi Ademola (MD Alaro City FZC), Mr. Osayaba Giwa-Osagie SAN (Chairman Nigeria-South Africa Chamber of Commerce), Mr. Yann Magarian (CEO Lekki Free Port Terminal), Mrs. Bolatito Ajibode (DMD Lekki Free Zone Dev ) Mr.Foluso Phillips (Chairman Phillips Consulting Limited), Dr. Tunde Sodade (MD Lekki Worldwide Investments Limited)

The event highlighted the importance of free zones in promoting economic growth and development. According to the Deputy Managing Director of LFZDC, Mrs. Bolatito Ajibode, free zones provide a conducive environment for businesses to thrive by providing them with access to infrastructure, tax incentives, and other benefits. He also noted that free zones can catalyze economic growth by attracting foreign investment and promoting exports.

The event also featured a panel discussion on the challenges and opportunities of free zones. The panellists discussed issues such as infrastructure development, regulatory framework, and the need for collaboration between the public and private sectors, as they encourage SMEs.

L-R: Haija Hauwa Tarfa Manager Business Development Nepza with Mrs. Bolatito Ajibode, DMD Lekki Free Zone Dev

In conclusion, the Nigeria-South Africa Chamber of Commerce event sponsored by LFZDC was a step in the right direction towards promoting economic growth and development through free zones.

Free zones are designated areas within a country where businesses can operate with little or no restrictions. These zones are usually established to attract foreign investment, promote exports, and create employment opportunities. In Nigeria, the Lekki Free Zone is one such zones, established to promote economic growth and development.