CHEN XIAOXING, MD, LEKKI FREE ZONE DEVELOPMENT COMPANY
In the face of economic globalization with the support of both Chinese and Nigerian government, Lekki Free Trade Zone (LFZ), a sino-Nigeria, is being developed as a model of co-operation between the two countries for the purposes of mutual benefits and bilateral relationship.
In an exclusive interview, the Managing Director of LFZ revealed the challenges facing the trade zones, its mission in the country and why it’s embarking on first of its kind international exhibition that is coming up this month.

Why Lagos Free Trade zone
The idea came up in year 2002 from me when I was working in a construction company back then as the MD. I observed that virtually everything were imported in Nigeria and I considered what it would be like to operate a trade zone in Nigeria with the support of the government where duties and taxes will be virtually free for all. Nigeria is really suffering, the country makes money from crude oil and spends most of it on importation.
In China, our last 30 years was hectic and full of suffering, but with the introduction of a policy called Urban Door Policy, which supports free trade zone hardship became a thing of the past. So, I took my idea to the former governor of Lagos State, Bola Ahmed Tinubu who was excited and he told me he had similar idea. He committed his support with provision of a land space and all necessary logistics needed to make it a reality. It was incorporated in 2006. We are the sole developer and investor for establishment, development, operating and management of LFZ in the form of joint venture by the Chinese partner- China-Africa Lekki Investment Ltd and the Nigerian partner- Lagos State Government and Lekki Worldwide Investment Ltd.

What is the investment focus of LFZ
LFZ will focus on several areas of investment and warmly welcomes investors from all over the world to invest and establish their businesses in the zone either in the form of sole ownership or joint venture partnership. The include electrical home appliances and electronic product, textiles and garments building materials processing of agricultural and agro allied products machinery manufacturing oil and gas real estate sea ports power plants and many others. The list is endless.
The investment advantages include the fact that we will handle and assist investors and enterprises in the zone to apply for operating licences and other legal paper on behalf of the relevant government authorities. On-site processing of taxes and levies payable as well as customs clearance of imports for the investors and enterprises in the zone and many more benefits

What are the challenges
There are many challenges; one of them is different culture i.e China/Nigeria. Though we have the same goal, we have to contend with each other’s shortcomings. The second one is the community. It was not easy operating here until Governor Babatunde Fashola of Lagos made us to now have cordial relationship. We also have issues with security, transportation, and most especially, electricity. On the issue of electricity, we are going to build our stations and generate electricity for both the trade zones and the community. Our major challenge is the accessibility of the road by investors. Very soon, we are going to construct roads and bridges that will make us accessible to every part of the states and its environs. LFZ is located on the tip of Lekki Peninsula to the South-east of Lagos State. It borders Lekki Lagoon in the north and faces the Atlantic in the south with a beautiful coastline. As one of the fastest growing areas, Lekki will soon be turned into a modern satellite township of Lagos metropolis. Don’t forget that our mission include the fact that we want to decongest the ports and that does not mean that we will give room to sub-standard goods or allow contrabands. Against all these challenges, we are not going to forget our vision on the Lekki Free Zones Development Company.

Let’s talk about your coming exhibition, what do you tend to achieve
The exhibition will be coming up between November 23 and 25 and we are calling on all prospective investors in this country to respond to this lifetime opportunity. This exhibition is going to be first of its kind in this part of the world, attracting multi-national brands from every part of the world.
This exhibition is going to create employment, build Nigeria manufacturing industry that is dying, help local contractor by exposing them to their experienced counterparts and many more. We have the support of both the state and federal government on this project and we have government agencies around too. These government agencies have been sent abroad for courses to have a good knowledge of how Free trade zones operate.
You are familiar with the international trade fair in this country, but I tell you that what this exhibition is going to look like is what is available in places like China and America.

Of what benefit will free trade zone and the exhibition be to the Nigerian economy
Don’t forget that we have both the Chinese government and Chinese banks as part of investors in this project. They are supporting it with huge amount of money and the Lagos state government too.
This free trade zone is going to make this country very lucrative and the exhibition will expose the potentials available in this country.