The Lekki Free Trade Zone (LFZ) is home to 53 businesses, employing about 4,000 people, according to John Zhao, a representative of the China Civil Engineering Construction Corporation (CCECC), who provided the update on Monday. Zhao emphasized the zone’s key contribution to boosting Nigeria’s foreign exchange earnings and supporting economic growth.
According to Zhao, the LFZ, which is created and run by CCECC, is significantly boosting Nigeria’s and Lagos State’s economies.
“The Lekki Free Trade Zone is a hub of economic and cultural activity. Recently, it hosted the 6th China-Nigeria Workers’ Games, which included football, table tennis, and the traditional Nigerian jump ball, with over 500 enthusiastic participants from the zone’s workforce,” Zhao states.
Covering an area of 30 square kilometers, the LFZ enhances foreign trade and injects fresh energy into the local economy. “Fifty-three companies operate within the zone, collectively employing 4,000 people,” Zhao confirms, emphasizing CCECC’s commitment to supporting Nigeria’s growth.
Located 60 kilometers east of Lagos city, the LFZ spans 830 hectares and integrates seamlessly with the Lekki Deep Sea Port, positioning it as a trade and industrial powerhouse.
- Revenue Impact: The zone generates significant revenue and has become a key driver of Lagos State’s economic agenda.
- Origins and Expansion: Established in 2012, the LFZ initially started with 215 hectares of land provided by the Lagos State Government, which later allocated an additional 590 hectares to facilitate growth.
- Investment Highlights: With more than $2.5 billion in committed projects, the zone draws a lot of foreign investment. One important part is played by China-Africa Lekki Investment Ltd (CALI).
