March 12, 2024/FSDH Capital

FSDH Capital Limited is pleased to inform you of the launch of the Lagos Free Zone Company (“Issuer” or the “Company”) Series 6 Commercial Paper Issuance (“CP” or the “Issuance”), under its N30 billion Commercial Paper Programme (the “Issue”). 

Lagos Free Zone Company is the licensee and operator of the Lagos Free Zone – the first privately owned economic zone in Nigeria. Integrated with a deep seaport (“the Lekki Deep Seaport”), the 850-hectare Lagos Free Zone site, which is promoted by Singapore-based Tolaram Group, is being developed as a “Live-Work-Play” community and equipped with built-up standard industrial and warehouse facilities. About 25 registered enterprises including some notable international brands have an operational base in the Lagos Free Zone as at December 2023.

The Lekki Deep Seaport construction was completed in October 2022 and the first commercial vessel berthed in January 2023 while the seaport was commissioned by former President Muhammadu Buhari on 23 January 2023.

LFZ was first incorporated as a private limited liability company on 29 January 2002 as Lekki Export Processing Zone Limited but later became Lagos Free Trade Zone in 2006, after the status of the Zone was changed from export processing to a free trade zone in line with the Nigeria Export Processing Zones Act (NEPZA) of 1992. The Company was subsequently granted a license (which is valid till 2067) to operate as a free zone and started operations in 2008. The Company’s name was eventually changed to Lagos Free Zone Company with the overriding objective being the facilitation of industrial development and not just trading activities within the Zone.

The Company’s current activities involve the development of a business model and a vision plan for the zone, land development, construction of buildings and infrastructure, operating the Free Trade Zone and leasing the developed land to enterprises registered within the Zone.

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