The Lagos Free Zone, which is the first privately-owned zone in Nigeria, won the title of Best Free Trade Zone in West Africa on Wednesday, February 28, 2024, at the West African Brands Excellence awards held in Lagos.
The Lagos Free Zone received the award at a function hosted by the Institute of Brand Management of Nigeria (IBMN) to honor notable accomplishments made by companies within the subregion in the year under review.
Speaking about the selection method, Lagos Free Zone was chosen as the category winner after a thorough and meticulous assessment of nominees by a network of esteemed jurors, according to Ifeoma Emeka, the convener of the award and Deputy Registrar, IBMN.
Given that Lagos Free Zone has grown to be a significant instrument for supporting economic growth in Nigeria and West Africa, particularly with the entrance of new firms and increasing economic activities along the Ibeju-Lekki axis, she said that the decision of Lagos Free Zone as Best Africa Trade Zone was uncontested.
One excellent venue for attracting the foreign direct investment (FDI) necessary to propel economic growth is the Lagos Free Zone. The Zone has given investors confidence in recent years by providing incentives and top-notch infrastructure that would enable them to generate strong profits, he stated.
In response to the announcement, Lagos Free Zone CEO Dinesh Rathi said that the company’s rising reputation as the greatest place to invest in West Africa and Nigeria alike is a result of this recognition.
According to Rathi, the prize is evidence of the group’s dedication to advancing the sub-region’s economic success.
He thanked the team sincerely for the amazing accomplishment and said the Lagos Free Zone would keep enabling investment, trade, and product movement throughout West Africa.