Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) has brought together major drivers and stakeholders in Lekki Economic Zone for collaboration towards accelerated development of the corridor.

The relations between the zones and enterprises became formalised yesterday in Alausa, Ikeja with the signing of the Memorandum of Understanding (MoU) by Lekki Worldwide Investment Limited – representing Lagos State Government, Lekki Free Zone Development Company (LFZDC), Lagos Free Zone, Dangote Enterprise Zone, Alaro City, Lekki Ports and others.

Commissioner for CCTI, Folashade Ambrose. described the occasion as historic, as leaders of enterprises in Lekki Economic Zone rose above the walls of economic partitions and organisational divides to collaborate and set off a transformational shift that would redefine business and investment landscape in the zone.

She said: “Today’s event marks a significant milestone in our collective desire to ignite the latent potentials of the Lekki Economic Zone, exploring its huge opportunities and accelerating its development with the entrance of additional investments. It is part of the broader plan to transform the region into an economic and industrial hub, catering to various sectors including manufacturing, real estate, trade, logistics and services.

“The signed MoU reflects our concerted efforts to position Lagos as a key hub for trade and investment in West Africa, attracting both local and international businesses. The zone is expected to significantly impact the Lagos economy by creating a more diversified industrial base and offering numerous opportunities for businesses and investors.”

 Speaking further, the commissioner stressed that the initiative would allow stakeholders such as government agencies, businesses and local communities to pool resources, share expertise, and collaborate on infrastructure development, leading to more effective and efficient use of resources.