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Lagos Free Zone boosted by $300 million steel plant investment 

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Babajide Sanwo Olu

The Lagos Free Trade Zone has recently secured a significant boost with the announcement of a new $300 million steel manufacturing plant set to be established in the Lekki Free Zone, managed by the Lekki Free Zone Development Company (LFZDC).  

The project materialized through a Memorandum of Understanding (MOU) signed between the LFZDC, represented by Managing Director Zhang Bin, and FINCON Capital Partners, led by Managing Director Bayo Adelore.  

This pivotal agreement took place at the Zone’s office in Ibeju Lekki, marking a significant milestone in the region’s industrial development, as highlighted in a statement from the Lagos State Government’s official website. 

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