The Prospective of Lekki Free Trade Zone
The growing population of Lagos State requires a level of economic growth to meet its future needs. The answer is found in Lekki Free Trade Zone (This Day News, 2015). The Lagos Free Trade Zone was envisioned with the aim of promoting the vision of the Federal Government by contributing significantly to the growth of Foreign Direct Investment (FDI) and employment generation. Lagos Free Trade Zone was therefore established in 2002 and is located 65km east of Lagos, currently covering an area of 805Ha in the Ibeju-Lekki area of Lagos State.

The Lekki FreeTrade Zone will be built to be a satellite city to Lagos with dynamic commerce and trade; the modern industrial sectors and also an eco-city for residents. According to the master plan and development strategy, the industrial orientation and development target of Lekki FTZ is: “taking trade & logistics and manufacture as the pillar industries, urban service industry and real estate development as the supportive industries with a view to promoting the functions of the new industrial city and achieving the rational allocation of industries, market and population in Lekki FTZ, so as to turn Lagos into an international metropolis”.

When fully developed, LFTZ will house about 250 industries including petroleum, petrochemical, food & beverages, chemicals & pharmaceuticals, metals & engineering, non-metallic minerals and agri-commodity manufacturing complexes.

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