The Lagos Free Zone has called on Indian businesses to shift their focus from trading with Nigeria to manufacturing in the country. This appeal was made by Adesuwa Ladoja, Managing Director/Chief Executive Officer of Lagos Free Zone, at the Nigeria-India Export Summit held in Lagos. The summit, themed "Driving Sustainable Export Growth through Trade, Investment and Market Access between Nigeria and India," aimed to strengthen economic ties between the two nations.
Ladoja emphasized that the long-standing relationship between Nigeria and India provides a solid foundation for a new phase of economic cooperation. She noted that while energy will remain crucial, sustainable growth requires both countries to move beyond commodity exchange and build businesses that create products and value locally. This shift is expected to create new opportunities for investment, manufacturing, and value addition.
According to Ladoja, Nigeria's large market size, natural resources, and access to the wider African market, combined with India's manufacturing and technological capabilities, present opportunities to develop competitive production and export value chains. The Lagos Free Zone offers an integrated platform with the necessary infrastructure and connectivity to support manufacturing, trade, and exports.
Ladoja encouraged Indian companies to "make in Nigeria, for Nigeria, for West Africa, and for the world." She emphasized that investing in Nigeria, building a strong local presence, and developing a supply chain that manages inputs and outputs locally are critical to sustainable success. The Lagos Free Zone is poised to help Indian companies turn this opportunity into factories, jobs, and exports.
Puneet Arora, host of the Nigeria-India Export Summit, welcomed attendees and highlighted the summit's objective of strengthening commercial ties between Nigeria and India. He noted that sustainable export growth depends on stronger supply chains, investment, and lasting commercial relationships between businesses in both markets.
The Nigeria-India Export Summit provided a platform for businesses and stakeholders to explore opportunities in trade, infrastructure, agriculture, market access, and investment. The event aimed to foster greater collaboration and investment between the two nations, with a focus on driving sustainable export growth.
The Lagos Free Zone's call for Indian manufacturing investments is part of a broader effort to diversify Nigeria's economy and promote sustainable growth. By leveraging India's manufacturing capabilities and Nigeria's natural resources, both countries can create new opportunities for economic growth and development.
Key points
- The Lagos Free Zone has urged Indian businesses to invest in Nigeria's manufacturing sector.
- The Nigeria-India Export Summit aimed to strengthen economic ties between Nigeria and India.
- The Lagos Free Zone offers an integrated platform to support manufacturing, trade, and exports.
