Lekki Free Zone Development Company (LFZDC)

 

The Lekki Free Zone Development Company (LFZDC) was established in May 2006 as a Joint Venture Partnership under the Nigeria Export Processing Zones Act. It is jointly owned by a consortium of Chinese companies known as China-Africa Lekki Investment Ltd (CALIL), the Lagos State Government (LASG), and Lekki Worldwide Investments Limited (LWIL). LFZDC is authorized by both the Federal Government of Nigeria and the Lagos State Government to develop, operate, administer, and manage the South/West Quadrant of the Lekki Free Zone project.


The Lekki Free Zone project aims to establish, operate, and manage a modern Free Zone, leveraging Lagos' status as a crucial distribution hub in West Africa. It seeks to enhance economic cooperation between Nigeria and China, capitalizing on their resource complementarity. Additionally, the project aims to optimize Nigeria's industrial structure and elevate national living standards. Located in the Southeastern corner of Lagos State, the Lekki Free Zone borders the Atlantic Ocean to the south and the Lekki Lagoon to the north, with 5 kilometers of coastline and stretching 50 kilometers from downtown Lagos. It is positioned 70 kilometers from the Murtala Mohammed International Airport and 10 kilometers from the proposed Lekki International Airport. Additionally, it lies 50 kilometers from Apapa Port, West Africa's largest port, and only about 10 kilometers from the new Lagos International Airport.

 

 

Objectives of Lekki Free Zone

§  To stimulate the Nigerian economy

§  To attract local and foreign investments

§  To create a global economic haven

§  To diversify of the Lagos State’s revenue base

§  To create and encourage integration with foreign partners

§  To ensure effective exploration of the country’s abundant resources

§  To create wealth for the citizens

§  To generate employment opportunities and skills acquisition

 

Infrastructure

The Lekki Free Zone prioritizes safety and security with a modern security system and a trained security force, supported by a divisional police headquarters within the zone. It ensures an uninterrupted power supply with a 12MW independent grid powered by dual fuel technology. The zone also addresses water needs with boreholes and a planned water treatment plant. Well-developed road networks, streetlights, and traffic lights facilitate easy transportation. Telecommunication infrastructure is robust, with plans for additional base stations to improve services. Facilities like the Customs Processing Center and Container Terminal expedite logistics processes, while an Exhibition Center serves as a platform for market testing and trade fairs.

 

Investment Sectors in Lekki Free Zone.

LFZDC welcomes investors in the following sectors in Lekki Free Zone.

 

MANUFACTURING

  • Light Industries
  • Solar Panels Assembly
  • Furniture
  • Garment
  • Building Materials
  • Plastic Products
  • Telecommunication Accessories

OIL & GAS

  • Petroleum Product Storage and Distribution
  • Blending Plant and Crude processing

REAL ESTATE

  • Real estate
  • Residential
  • Middle /High Income Houses
  • Hotel and Guest Houses
  • Office Apartments

TOURISM

  • Tourism
  • Hospitality
  • Recreation & Vacation Home

 

Enterprise Registration Steps in Lekki Free Zone:

1.      Complete and submit application forms along with supporting documents.

2.      Pay a non-refundable application/registration fee corresponding to the investor's investment category.

3.      Receive a "Provisional Approval Letter" from LFZDC.

4.      Obtain an "Operating License" from LFZDC.

 

Execution of the Investment Agreement and Issuance of Deed of Lease:

1.      Execute the "Investment Agreement."

2.      Notarize the Investment Agreement and other necessary documents.

3.      Receive a "Land Sub-lease Certificate" from LFZDC upon full payment of the land lease fee.

4.      Notarize the Deed of Sub-lease and other necessary documents.

 

Source: https://lfzdc.org/

Updated On: 02/22/2024