Lagos Free Zone, Nigeria’s first private special economic zone, centrally located in Lagos State and promoted by Tolaram, has been described as the best investment destination for Nordic companies in Nigeria.
The Chief Executive Officer of the Lagos Free Zone, Mrs. Adesuwa Ladoja, disclosed this during the Nordic Nigeria Connect 2025 held in Lagos on Tuesday.
Speaking during a panel discussion at the event, Ladoja explained that the Zone offers business predictability and proper organisation for investors who intend to do business in Nigeria, unlike other places where they are more likely to be confronted by infrastructural or regulatory barriers.
She stated that for Nordic companies that see Nigeria as a potential hub for business, Lagos Free Zone remains the ideal destination as it offers the proper infrastructure, enabling environment, and logistics capacity needed to thrive.
“In Lagos Free Zone, we have a deep-sea port with state-of-the-art equipment. So, if you come to the Zone and have your business set up, it becomes easy for you to export, thus addressing the issue of delays and timing. With that, you can bring in your raw material seamlessly, effortlessly, all in the same place. So, with other access roads and coastal roads being put in place, alongside the plan to connect the axis through rail, many of these constraints would have been taken care of. Looking at it from a regulation perspective, we are creating our own single window where all the regulators you need to do your business are concentrated in the zone,” she added.
She observed that the Tinubu administration’s two major policy reforms—the removal of fuel subsidies and the unification of the exchange rate—have created a more transparent, market-driven economy and brought back a sense of predictability in the investment climate for foreign investors. She maintained that the reforms have inspired cautious optimism in the economy, witnessing headwinds turning into tailwinds.
According to her, sustained currency stability, low interest rates, and downward-bending inflation curves in the last 12 months are good signals that the private sector capital formation cycle is ripe for revival. She also explained that with young, entrepreneurial, and passionately creative people occupying the biggest pie in the population, Nigeria offers a vast consumer market and a production base with access to the 400-million-strong ECOWAS region.
“This dynamic market, structural reform, and market stabilisation combination makes Nigeria one of Africa’s most appealing investment destinations today. However, the real potential is in being an early mover. As Nigeria’s infrastructure advances and its industries develop, those who establish a presence early will enjoy the greatest rewards,’ she added.
She stated that the strength of the Nordic region, which can be found in specific sectors such as renewable energy, sustainable manufacturing, logistics, and digital solutions, remains highly complementary to Nigeria’s growth priorities as it unlocks enormous opportunities for collaboration that create shared value, drive innovation, jobs, and inclusive growth.
She applauded Nordic countries for their leadership in clean technology, digital transformation, and responsible business practices, which align perfectly with Nigeria’s development aspirations.
Other speakers at the panel discussion include Chief Executive Officer, APM Terminals Nigeria, Frederik Klinke; Executive Director/Chief Financial Officer, Development Bank of Nigeria, Ijeoma Ozulumba; Regional Director, West Africa, Norfund, Naana Winful Fynn; and Chief Executive Officer, Empower New Energy, Yerje Osmunden.
