President Bola Tinubu has applauded the International Finance Corporation, IFC, for its sustained confidence in Nigeria’s economy, following the institution’s $50 million equity investment in the Lagos Free Zone.
The investment, spearheaded by Tolaram, aims to accelerate the development and expansion of Nigeria’s first private special economic zone linked to a deep-sea port. The President described the move as a strong endorsement of his administration’s economic policies and a reflection of increasing global trust in Nigeria’s financial trajectory.
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Strategically integrated with the Lekki Deep Sea Port, the Lagos Free Zone is expected to streamline import and export processes, enhance Nigeria’s position in regional and global trade, and foster a more business-friendly environment.
The IFC’s funding will facilitate land development, industrial growth, and logistics infrastructure within the 860-hectare zone, reinforcing Nigeria’s broader economic diversification agenda.
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