SA businesses urged to invest in Nigerian free trade zone
The South African business delegation taking part in the outward trade and investment mission in Nigeria has visited the Lekki free trade zone, a privately-owned free trade zone outside Lagos, as part of the site visit programme.
South Africa’s foreign economic representative in Nigeria, Calvin Phume, said it was important to expose the South African business delegation to the likes of the Lekki free trade zone to showcase the vast opportunities available across the Nigerian economic sectors where they could look into setting up public-private partnerships and joint-ventures.
"Opportunities are abound in Nigeria. South Africa has taken a conscious decision to partner with Nigeria during their development phases and that Nigeria, like most countries in Africa, presents a wealth of business opportunities for South African companies," Phume said.
The visit was an opportunity to continue pursuing economic collaboration and partnerships with Nigeria, and crafting the way forward for sustainable economic development and the development of investment in the African continent, he said.
Lekki free trade zone general marketing manager Oyewole Adegoke said efforts were being made to market Nigeria by focusing on key economic sectors identified by government. He was delighted to host a business delegation from South Africa and to disseminate information on current investment opportunities in the free trade zone to South African businesspeople.
"Our aim is to market Nigeria’s economic potential to investors across the world, as a private organisation working closely with the Nigeria Export Processing Zone Authority (NEPZA) and its stakeholders," Adegoke said.
General Manager at Dermacell Cosmetics and Healthcare, manufacturers and suppliers of skincare products using Aloe Ferox as its main ingredient, Junior Mokgapi, said setting up a manufacturing facility in the free trade zone would allow his products to penetrate Nigeria, opening a market into the West Africa region.
"Nigeria is one of the biggest economies in Africa. If one can crack it into (the) Nigerian market and conduct business, then the rest of Africa has no boundaries," Mokgapi said.
The founder of Valotech 228, a supplier of rail signalling design and construction, installation and rail maintenance solutions, electrical installations, and mechanical design, Dorothy Mofomme, said her main objective for coming to Nigeria was to try to penetrate the market and fill the gaps.
"We noticed that there is a need for rail infrastructure development, especially with all the critical infrastructure projects and activities going on here. Setting up shop in the free trade zone would be advantageous, as all rail, roads, and ports are in close proximity," Mofomme said.
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