The Lekki Free Trade Zone Ibeju Lekki, Lagos

The Lekki Free Trade Zone Ibeju Lekki, Lagos

There is no gainsaying the fact that the Lekki Free Trade Zone being the first private free trade zone in Nigeria is the biggest in the whole of West Africa. Lekki Free Trade Zone is gradually becoming the leading hub and major driver of the Nigerian economy and West Africa as a whole by the time all the infrastructure that is planned starts operation.

Lekki free trade zone which has its design to restructure the face of the new Lagos zone covers a total area of about 155 square kilometres in Ibeju Lekki Local Government Area, southeast of Lagos, Nigeria, about 50km from the city center, facing the Atlantic Ocean in the south and bordering with Lekki Lagoon in the north, has been granted series of preferential policies and incentives, designated as a special economic zone inside Nigeria which makes it easy to access the Western African market of about 300 million population and the European and USA market with a population of about 600 million. Thus, it’s the future destination for international businesses in the region.

Lekki Free Trade Zone birth ideal and open up platform to diverse market for all investors (angel investors) and enterprises in the world. It’s a unique footstool of the future development of Lagos state and Nigeria as a whole.

Lekki Free Trade Zone Is a joint venture partnership established in May 2006 in conformance to the Nigeria Export Processing Zones Act (NEPZA). Also, it’s a major catalyst for the development of Lagos state which comprises of Chinese investors (China-Africa Lekki Investment Ltd (CALIL) with 60% stakes) and Nigerian governments (Lekki Worldwide Investments Limited (LWIL) owned by the Lagos State Government holding 40% stakes). The zone is currenly under the management of Lekki Free Zone Development Company (LFZDC). Due to this, The Zone is fast attracting local and foreign investors; the largest oil refinery in Africa, a fertilizer plant, petrochemical plant and a sub-sea gas pipeline project under a serious construction by African richest man, Alhaji Aliko Dangote, and valued at $17 billion.

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The Dangote refinery which is the largest single line refinery in the world has a processing capacity of 650,000 barrels of oil per day while the gas pipeline project, according to Dangote, “is meant to supply 3 billion cubic feet of gas daily to Lagos and its axis which can guarantee uninterrupted power supply in Lagos on completion as it will generate 12,000 megawatts of power”.

Already, the integrated agrochemical factory built by CANDEL FZE by a leading Agrochemical company has been commissioned.
With the construction of the Lekki Deep Sea Port, the New International Airport, Dangote Oil Refinery, Pan Atlantic University, St Augustine University, Eleganza Industrial City, different beach resorts, the proposed 4th Mainland bridge, and other amazing infrastructure, it is obvious that an investment in land around Ibeju Lekki especially in areas along the Lekki Free Trade Zone will reap massive returns few years from now.By having great transportation conditions both by Land, Sea and Air as well as its unique geographical and regional advantages, the zone serves as the best springboard for any investors and enterprises who desire to open up to markets all over Africa, Europe and the US.
When you hear the lekki free trade zone all that comes to mind is;

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Dangote Refinery
Deep Sea Port – Driving trade and business
Terminal-ling services for large volume shipping Lekki Port – a deep sea port with container, dry bulk and liquid terminals
1500m quay
14m draught

Built upon an area of 90 hectare
Dubai Smart City
Lekki Epe International Airport
Olympic Size Stadium
International Golf Center
Beach Resort Centers
Dangote Private Jetty

These are the activities that keeps lekki free trade zone on a verge for high investors and investing in this axis really a great deal at this time because a stitch in time saves nine. Some of this project might not take up to five years to complete since the refinery’s full operations will start in first quarter of 2019-that’s less than a year from now.

Landed properties around Lekki Free Trade Zone Ibeju Lekki
There are lots of properties around the Lekki free trade zone area, some are before the LFTZ, while some are in the LFTZ area. The LFTZ area is mostly industrial. The Lekki sea port, Dangote refinery, Power oil and some other companies are just after the LFTZ with many other companies springing up in the area.
Empty lands are still within the area and hopefully when the refinery commences operation, there would be many other companies in the area, including banks which will make the cost of acquire property at that time more expensive. The residential area in Lekki free trade zone to the trade zone is about 10-30 minutes’ drive and from the Ajah bridge about 20-25min to get to a junction called Eleko junction, to your right is the lekki free trade zone.

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  1. […] areas when it comes to Real estate and the reason is not far fetched. Ibeju-Lekki comprises of the Lekki Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, […]

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