The Lekki Free Trade Zone (LFZ) is located in Lagos State and is ideal
for setting-up manufacturing businesses in all sectors. There are many sources
of raw materials for investors in fields such as agri-processing, clothing and
textiles, food and beverages, forestry, mining and pharmaceuticals.
Opportunities in commerce, retail, housing and tourism also abound. The beaches
adjoining Lekki's lagoon and oceanfront are the site of considerable activity
and host various tourist facilities.
Competitive
advantages of the Lekki FZ
• Access to the largest consumer
market in Africa with over 500 million potential customers locally and in the
West Africa region.
• Generating profit to its
maximum extent by utilising Nigeria's abundant natural resources such as oil,
natural gas, timber, rubber, cocoa, gum arabic, sesame seeds, fruits, etc.
• Favourable geographical and
ascendant location to the Atlantic Ocean from where to export products to the
rest of the world
• Providing a perfect development
platform for investors by using the company-orientated operation mode
• Modern infrastructure such as
an airport and seaport
• One stop approval of all
permits, operating licenses and incorporation papers
Preferential
policies and incentives to investors
• 100% foreign ownership of
investment and joint venture entities allowed in the zone
• 100% repatriation of capital,
profits and dividends out of Nigeria
• Import or export licenses not
required by enterprises operating in the zone
• Customs duty-free and no quota
restriction for all imported raw material products, machinery & equipment,
consumer goods, as well as any other goods for investment projects in the zone
• No strikes and lock-outs
permitted in the zone
• 100% of the finished products
manufactured, assembled or produced in the zone can be sold into the Nigerian
domestic market
• Exemption from all taxes,
customs duties and levies from the Federal, Lagos State and Local Governments
• No quota on products exported
from the Lekki FZ to the European Union or the United States
• Goods manufactured in Nigeria
are entitled to preferential tariffs in the EU, as Nigeria is a member country
of the Lome convention
Summary:
The Lekki Free Zone in Lagos State provides a variety of opportunities for investors interested in agri-processing, clothing and textiles, food and beverages, forestry, mining, pharmaceuticals, retail, housing and tourism.
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The history of state creation in Nigeria date back to May 27, 1967 when the then Head of State, General Yakubu Gowon by virtue of State Creation and Transitional Provisions Decree No. 14 of 1967, created 12 State for the country. Lagos State is one of the states created by the said Decree No. 14 of 1967.
Prior to this date, Lagos Municipality has been administered by the Federal Government through the Federal Ministry of Lagos Affairs as the regional authority. Lagos State is an administrative region of Nigeria, located in the southwestern par of Nigeria.
Following further demand for the creation of state in the country, the Federal Military Government appointed a panel under chairmanship of Mr. Justice Ayo Irikefe on the 7th August, 1975 to examine the question of the creation of more state in the federation; consequently, the Federal Government increased the number of Nigerian states from twelve to nineteen in Federal, 1976. Some of the states were split either into two or three with some boundary adjustment. However, LagosState remained intact but its capital was moved to Ikeja.
It should be noted that in October 1960, when Nigeria become independent, Lagos was made the Federal Capital of the country. There were three regions namely: The Western, Eastern and the Northern Regions. These were later increased to four by the creation of Mid-Western Regions.
While these regions were autonomous and self-governing, Lagos was a federal territory. The people of LagosLagosLagos were governed directly by the Federal Government through Federal Legislation and through a minister for affairs who was not necessarily a Lagosian. However, the minister could at will dissolve the only council in i.e. the Lagos City Council.
Award of regional scholarship in the filed of education was a privilege of the regions Lagos was not a region. The so-called Federal allocation to Lagosians was not an allocation in reality, because the privilege was enjoyed mostly by persons of other regions resident in Lagos. Lagosians were in many ways handicapped. LagosWestern Nigeria after the introduction of ministerial form of Government in 1951. This situation involving deprivation of rights enjoyed by other Nigerians led to the agitation and struggle for the creation of LagosState which included the city of Lagosand the old colony provinces of Ikeja, Epe, Ikorodu and Badagry. remained a federal capital even when it enjoyed a spell of autonomy as part of
However, the above cumulative constraints still abound in greater measures. The effects of modernization/urbanization, over-population and constraints foisted by Land Use Act leading to unprecedented acquisition of communal land, under development, illiteracy, unemployment, communal clashes, uneven distribution of resources, Marginalization, lack of access to justice, insecurity, transportation problems and under-development are problems greatly militating against the area agitating for the creation of Lagoon State.
Lagos state remain the only state yet to be divided since ?7.Other states of the federation with lesser population and human activity have been divided and states created out of them.
The smallest of NigerianState, Lagosis the most populous state after Kano and arguably the most economically important state of the country. It comprises of 20 Local Government Area namely: -Alimosho, Ifako-Ijaiye, Ikeja, Kosofe, Mushin, Oshodi-Isolo, Shomolu, Ikorodu, Apapa, Eti-Osa, Lagos-Island, Lagos Mainland, Surulere.
SUMMARY
NAME OF STATE:LAGOONSTATE
MOTTO:EQUALITY & JUSTICE
CAPITAL:IKORODU/EPE AXIS
AREA:2,408Sq. Km
POPULATON:2,407, 000 (Federal Republic of Nigeria Official Gazette No. 24 Volume 94 dated 15th May 2007)
See the new Lagos in a new perspective, so money people believe things don’t work in Nigeria, it has been discovered that some powerful click are feeding fart from the already bad satiation and are doing everything possible to sabotage every positive effort. Take the issue of POWER for instance as government is working tirelessly to improve on power supply, electrical installations, power station are been vandalized on a daily bases and the generator market is booming everyday, tell me will the people doing the generator business ever want the power situation to improve? The answer is defiantly no. God help Nigeria from the hands of Nigerians. Back to my main topic “The New Look of Lagos” I want to ask have there not been governors in that state before Governor Babatunde Fashola. Why is it that within the first 1000 days in office the man has tune the state into a city of light, flowers, parks, clean streets and good roads? Lagos is fast becoming a tourist state
Please take a look at the pictures below and tell me what you think about the development.
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FEDERAL Minister for Commerce and Industry, Achike Udenwa during a visit to Lekki Free Trade Zone (LFTZ) said the Federal Government would give Lagos State and its Chinese partners in the free trade zone project necessary support to actualize the project. Udenwa said this boost is necessary as government must increase the level of production and export to survive the world-wide recession. In similar vein, Olusola Owofu, special adviser to Lagos State Governor on Commerce and Industry, said the state is committed to the completion of LFTZ which first phase is billed to commence operations in 2011. Lagos State government necessary towards completing phase 1 of the multi-billion naira project for which both Lagos and the Chinese partners are committing $260 million for a start. The first phase is earmarked to sit on 1.000 hectares of the 16,500 hectares of land acquired for the project. She said,
“The economic potentials of this project are enormous. What we are trying to do here is to build a new city that will be efficient commercially and economically because it will have it own airport, seaport as well as generate power for its operations on full completion. Apart from these, there is going to be provision for 21st century ICT solution and infrastructure which will enable companies to produce at a cheaper rate so as to be able to compete internationally, thereby increasing Nigeria’s non oil earnings”.
Oworu said although power provision in the country remains the responsibility of the federal government, the state nonetheless is currently looking into what can be done to generate power to keep the trade zone running efficiently on commencement of operations.
“ Our long-term plan is to have an independent power plant (IPP) to support activities within the zone. In the short-term we are putting on place two 1,000 KVA generating plants to assist companies that will start with us in 2011. But like I said this is a short-term solution. Also in view of the importance of gas there are provisions to have gas pipeline coming into the Lekki Peninsula” Oworu noted.