By Emmanuella Anokam The Nigerian Export Processing Zones Authority (NEPZA) described the listing of the Lagos Free Zone as a “Highly Recommended Free Zone in Africa” by the Ficial Times FDI magazine as a consequence of the sustained reform of the federal government sector.
Professor Adesoji Adesugba, CEO of NEPZA, made this known on Sunday in a statement by Mr. Martins Odeh, head of corporate communications, NEPZA in Abuja.
Adesugba said LFZ‘s defeat of other world-class free zones on the continent also stemmed from the adoption of a world-class corporate governance system.
“This award is therefore an important step in the advancement of the Lagos free zone being recognized on an equal basis with the best free zones selected in the world, it will help attract foreign investment into the economy.
“This recognition shows that President Muhammed Buhari’s vision and policy for an area rejuvenation operation is starting to yield the desired results.
“NEPZA is sure of the sector’s capacity to revive the country’s economy.
“So allow me, on behalf of the NEPZA management team and all the staff, to congratulate the LFZ management on this great outing,” Adesugba said.
The NEPZA boss, however, reiterated that the zone had shown long-term strategic thinking by redefining the priority of its priority industrial sub-sectors as the world moved towards shorter supply chains.
LFZ, developed by the Singapore-based conglomerate, is the country’s first private and port-integrated free zone.
It is a multi-cluster area with a world-class infrastructure conceptualized as a modern and efficient industrial hub.
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