Lagos Strengthens Global Investment Drive with Landmark Partnership in Lekki Corridor
In a bold step toward industrial transformation and economic expansion, the Lagos State Government has facilitated a strategic partnership between Lekki Worldwide Investment Limited (LWIL) and Lagos Free Zone Development Company, aiming to position the Lekki Corridor as a premier global investment hub.
The Memorandum of Understanding (MoU), signed at the Ministry of Commerce, Cooperatives, Trade, and Investment (MCCTI) headquarters in Alausa, Ikeja, marks a major milestone in Governor Babajide Sanwo-Olu’s vision of making Lagos the leading economic powerhouse in West Africa.
Commissioner for Commerce, Folashade Ambrose, described the agreement as a game-changer that would drive industrial innovation, infrastructure development, and job creation, aligning with Lagos’ T.H.E.M.E.S+ Development Agenda and the Federal Government’s Renewed Hope Agenda.
“Today’s agreement unlocks the full economic potential of the Lekki corridor, ensuring a globally competitive business environment that fosters industrial growth and international investment,” Ambrose said.
The partnership is set to accelerate key infrastructure projects, including modern transport systems, stable power supply, advanced telecommunications, and efficient logistics services, ensuring a seamless business operation framework.
MD/CEO of LWIL, Adeniyi Akinlusi, emphasized that the initiative lays a solid foundation for long-term economic sustainability, stating, “Our vision is to make Lekki a hub of global economic activity, attracting both local and foreign investors.”
CEO of Lagos Free Zone, Adesuwa Ladoja, highlighted that the formalized collaboration elevates previous informal partnerships into a structured, strategic alliance, paving the way for unprecedented investment and economic diversification.
Further boosting the investment landscape, the International Finance Corporation (IFC) announced a $50 million equity investment into Lagos Free Zone Company, aimed at advancing Nigeria’s first deep-sea port-based private special economic zone.
With these visionary partnerships, Lagos is poised for an era of unmatched economic growth, reinforcing its status as Africa’s commercial epicenter.
