The southwest Nigerias Lagos State government on Friday launched a fresh investment drive that will stir more investment into the Lekki Free Zone (LFZ) in Ibeju-Lekki area of the state. The move is the opening of a one-day joint investment forum and 10-day Eko Expo 2012 aimed at showcasing investment potentials of the state at the Lekki Free Zone. The events are being put together by the Lagos State Ministry of Commerce and Industry and the Lekki Free Zone Development Company (LFZDC). Investors who play in the key sectors of the economy across Nigeria, South Africa, the United Kingdom, United States and China were present at the opening on Friday.Babatunde Fashola, the governor of Lagos told his audience that the establishment of the FTZ was a major step toward boosting economic growth and increasing the inflow of Foreign Direct Investments in the country. We must work together to achieve this, Fashola added, noting that the state governments desire to make Lagos a preferred destination in sub-Saharan Africa for investors and businesses ranked first among other considerations. The Minister for Trade and Investment Olusegun Aganga, who described the project as a laudable one, said it was critical to Nigerias economic development in terms of job creation and poverty alleviation, foreign exchange earnings, technology transfer and economic integration, amongst other significant benefits that the free zone would impact on the socio-economic landscape. Chinese Consul General in Lagos Liu Xianfa attended the forum and lauded the mutual business understanding of both countries in terms of trade volume and investment.Agencies
