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LFZ Wins at 2023 Global Free Zones Awards

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Lagos Free Zone LFZ

By Adedapo Adesanya

Nigeria’s first deep seaport-based private free trade zone, Lagos Free Zone (LFZ), has won the Industrial Champion category of the 2023 Global Free Zones awards by the fDi Intelligence, a service from the Financial Times.

The fDi Intelligence monitors global greenfield foreign direct investments across sectors and through the award, recognised industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa.

According to the special report released by fDi Intelligence recognizing the world’s best free zones for FDI, LFZ was recognized as the inaugural winner of Africa’s industrial champions category on account of its integration with a deep sea port that receives container vessels from around the world, creating new opportunities for manufacturers looking to export their goods.

“When it comes to staffing projects, manufacturers benefit from the company’s community jobs portal and a future training hub, which is dedicated to vocational skills that align with its priority sectors of food and beverages, pharmaceuticals, engineering, paper, chemicals and non-metallic minerals,” it stated.

Owned and promoted by Tolaram, LFZ was founded in 2012 and is located in Lekki. With $2.5 billion committed to Foreign Direct Investment (FDI) projects to date, it has global brands like BASF, Kellogg’s, Colgate, Arla, Dufil, and Lekki Port among others as its current tenants.

Speaking on the recognition, Mr Olufemi Ogunyemi, Managing Director at the Nigeria Export Processing Zones Authority (NEPZA) said, “We are deeply excited about this development and congratulate the Lagos Free Zone team for their efforts.

“This recognition further strengthens NEPZA’s commitment to driving the Renewed Hope agenda with free zones as the cornerstone of our approach to driving investments into the country.

“We will continue to provide a conducive environment for businesses to thrive and contribute to our nation’s prosperity. We are excited about the opportunities that lie ahead.”

On her part, the newly appointed CEO of the Nigerian Investment Promotion Commission, Mrs Aisha Rimi, congratulated Lagos Free Zone saying, “We are glad to see investment hubs like the Lagos Free Zone get global recognition and congratulate the team at Lagos Free Zone for being announced the Industrial Champions for the African continent at the Global Free Zones awards this year.

“We are committed to working constructively with public and private sector players towards the common goal of driving inward investments and contributing to the economic growth of the country.”

In his remarks, the Chief Executive Officer of the Lagos Free Zone, Mr Dinesh Rathi, described the award as a testament to the commitment of the promoters to attract global manufacturers by providing a world-class industrial ecosystem and thereby creating employment opportunities for Nigerians.

Mr Rathi noted that the company is extremely delighted at the recognition and would continue to take giant steps that would attract both local and foreign investments in the manufacturing sector.

“At Lagos Free Zone, we make it possible for businesses to make Made in Nigeria for Africa by providing a world-class industrial ecosystem integrated with Lekki Port, Nigeria’s most modern and deepest seaport.

“We invite global and local manufacturers to unlock hassle-free growth in West Africa and beyond through this ecosystem. We humbly dedicate this prominent recognition to all Nigerians,” he said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Dangote Cement Ibese Commissions Cassava Processing Plant in Ogun

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Cassava Processing Plant in Ogun

By Aduragbemi Omiyale

In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.

The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.

According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.

The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”

He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.

The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.

The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.

The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”

He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.

“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.

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FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing

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bdc operator

By Adedapo Adesanya

The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.

“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).

“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.

It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.

The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.

The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.

It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.

The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.

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Lagos Seals Radio Station, Others for Noise Pollution

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Wise FM Lagos

By Aduragbemi Omiyale

A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).

The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.

In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.

As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.

Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.

Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.

He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.

The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.

Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.

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