- Ambode Advises LFZDC on New Investors
The Governor of Lagos State, Mr. AkinwunmiAmbode, has urged the Lekki Free Zone Development Company to continue to seek more foreign and local investors to take advantage of the huge trade and investment potential of the free trade zone.
Ambode, who said this at the Nigeria-China Forum on Production Capacity and Investment Cooperation held at the free zone on Thursday, lauded the bilateral relations of the two countries, which he noted had brought about job creation and wealth generation.
Represented by his Special Adviser on Commerce, Industry and Cooperatives, Mr. Benjamin Olabinjo, the governor said Lagos aimed to be the first choice for local and foreign investors considering the investment potential of the state.
He said, “The Lekki Free Zone is the primary location for business development in Lagos State and I am happy to note that enquiries and intention to invest in the zone by foreign investors have been concretised over time.
“The presence of Chinese investors in the free trade zone as well as involvement in the provision of public infrastructure in conformity with global standards is a strong indication of the bilateral business and cultural relations between Lagos State and China.”
He commended the efforts of the management of the LFZDC and for organising the Nigeria-China Forum on production capacity and investment cooperation, adding that it was a platform that would continually nurture and sustain relations for mutual benefit of both countries and their citizens especially through job creation and wealth generation opportunities.
Speaking earlier, the Managing Director of LFZDC, Mr. Ding Yonghua, said the free zone management was implementing policies that would encourage utilisation of local materials by companies operating in the zone.
He urged government to help with the development of Lekki port and surrounding road network, provide pipe gas and implement offshore banking services policies for the zone.
“In February 2015, the Central Bank of Nigeria revealed that it was implementing policies to ease banking services for companies operating in free zones, but there doesn’t seem to be any plans on the ground for implementing offshore banking services,” he said.
The Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, who was represented by the Director-General, National Automotive Design and Development Council, Mr. Aminu Jalal, said the ministry would continue to consult stakeholders in finding solutions and seeking more investment for the free zone.
Also speaking, the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian, said China’s presence in Africa was based on the principles of sincerity and mutual friendship, with the country committing $6bn into farming in Africa.
He said, “From the engineering services, this opened a new era of China-Africa win-win cooperation and since her independence, China has regarded Nigeria as an important strategic partner in Africa. Nigeria has the potential to become a major player in the global economy but this potential has remained untapped for many years.
“By 2020, Nigeria will have a more diversified economy and as the world’s largest manufacturing economy, China is willing to transfer technology to Nigeria.”
