By peter.
Despite persistent hurdles and unfavorable stereotypes, Nigeria continues to offer strong potential as an investment hub, according to Dai Shunfa, Managing Director of the Lekki Free Zone Development Company.
Shunfa addressed concerns regarding global perspectives on conducting business in Nigeria on Tuesday during a media tour in Lagos. “The biggest obstacle to drawing fresh capital is the flood of misinformation,” he stated. “Negative stories dominate headlines abroad—tales of daily kidnappings and violence. This has painted a damaging picture, scaring off prospective backers.
“When we pitch the Lekki Free Zone in places like China, Dubai, or elsewhere in Asia and Africa, fear holds people back. That’s why your presence here matters; we need voices to counter the narrative and prove Nigeria is secure.”
Noting that no nation is immune to difficulties, he advocated for a balanced viewpoint. I’ve been here nearly two decades. Every society grapples with crime or unrest—Nigeria included. It’s not original.” Shunfa spotlighted the zone’s expansion prospects and global outreach.
We control 3,000 hectares, but only 500 of them have been developed, leaving a lot of room for expansion. We’re actively courting investors from China, Nigeria, Africa, Europe, and beyond.”
He credited recent infrastructure breakthroughs for accelerating progress.
“Thanks to the Lekki Deep Seaport, the Coastal Highway, and upgraded facilities, momentum is surging. We’ve given 16 major clients over 110 hectares this year, from January to now, more than in the previous seven years combined. Improvements continue.”
On the new tax reform laws, Shunfa acknowledged impacts on some incentives but stressed resilience.
“Certain perks for free-zone firms have shifted, yet operations remain robust. The reforms target higher revenue and export growth, even as many companies serve the local market—still fueling economic gains.”
Toluwaleke Adeyele, Senior Manager for Legal and Compliance, praised the zone’s top-tier setup as a magnet for industry.
“Our infrastructure supports heavy, medium, and light manufacturing—ideal for factories needing reliable gas. Few zones match us; a pipeline from the Dangote project ensures direct supply.”
He mentioned obvious changes in production. “A few years back, tyres came solely from imports, mostly China. Today, two or three firms assemble them right here in the zone.”
Adeyele urged investors to focus on the long game.
The Lekki Free Zone Development Company was established in 2006 and is located on the Lekki Peninsula in the southeast of Lagos State, approximately 50 kilometers from the city center. It spans a planned 30 square kilometers, flanked by the Atlantic Ocean to the south and the Lagos Lagoon to the north.
Distances include 70 km to Murtala Muhammed International Airport, 10 km to the upcoming new international airport, 50 km to Apapa Port, and just 3 km to the Lekki Deep Sea Port.
Core sectors encompass fine chemicals, manufacturing and assembly, petroleum storage, commercial logistics, and real estate.
As of June 2025, 134 companies have committed via investment pacts; 65 are operational—including Pinnacle Oil and Gas Limited, CANDEL Company Limited, HENAN D.R. Construction Group Co. Ltd., and Langsung Electric FZE—with ten more projects in progress.
