The IFC has announced an equity investment of $50 million in Lagos Free Zone Company to support the development and expansion of the Lagos Free Zone.
The IFC made this known via a statement made available to The Star on Sunday, February 9, 2025.
It stated that the investment was designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria’s economic diversification agenda.
It said the funds will support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure.
The IFC Regional Director, Central Africa and Anglophone West Africa, Dahlia Khalifa, said: “This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria.
“Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.
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“We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.”
Also speaking on the investment, the MD/CEO of Lagos Free Zone Company, Adesuwa Ladoja, stated: “IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub.
“This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.
“Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development.
“We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.”
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