From left: Vice Chairman, Senate Committee on Trade, Industry and Investment, Senator Ishaku Elisha Abbo; Chairman of LADOL Free Zone Ladi Jadesimi; Chairman Senate Committee on Trade, Industry and Investment, Senator Francis Fadahunsi; and LADOL Free Zone Executive Director Business Development, Jide Jadesimi during the oversight function of the Senate Committee and the visit of Nigeria Export Processing Zone Agency NEPZA Board to LADOL Free Zone in Lagos.

NASS, NEPZA Commend LADOL Chairman and Confirm the Zone has Their Support

The Senate Committee on Trade, Industry and Investment and the Nigeria Export Processing Zone Agency, NEPZA have commended the chairman of LADOL Free Zone, Ladi Jadesimi over the huge investments by zone, which have turned a disused swamp into a world class industrial free zone in less than 20 years.

The delegation said it was highly impressed by the achievements recorded by the LADOL Free Zone and and pledged their support for the zone with a view to protecting the significant investments and achievements already recorded.

Chairman of the committee, Senator Francis Fadahunsi gave the made the commitment during an oversight visit to the zone.

While addressing the LADOL chairman, Senator Fadahunsi said: “We are very happy to be here to see that things are really going on. At your age you are still aware that Nigeria is your home, and you took the initiative to invest here even when you have options to invest in Dubai, Europe or America. By what you have done you deserve a national honours award by Mr. President.

“Whatever is being done in government -owned free zones can be done here. The Senate Committee on Trade, Industry and Investment is happy with you, and we will use our legislative powers to back you. If the chairman of LADOL and NEPZA introduce backward integration into this place and continue to enlarge this place and bring in more investments into the land, our youths that are unemployed will be gainfully employed and crime rate will reduce”.

Vice chairman of the committee, Senator Ishaku Elisha Abbo also commended LADOL for the investment and initiatives in the zone.

“I feel proud that an indigenous company like LADOL exists. It is not owned by some Germans, some Indians, or some Lebanese owning this strategic place. Sometimes I feel worried when I see these foreign investors in the name of investing take over our seaports, nobody knows what they ship into our country.

“I am a member Senate Committee on Defence, a member Senate Committee on Interior and I am the vice Chairman, Senate Committee on Nigeria Navy. So, when you see jetties all over own by foreign investors and we do not know what they bring from their ship and dock here, this gives us a lot of concerns security wise.

“Seeing you investing in your country, we want to help you. If there are challenges, we in the senate will speak with one voice, if you are having challenges, please let us know. Your case is not a case of question and answer. We are not going to question you. We are going to support you”, he said.

Managing Director of NEPZA, Professor Adesoji Adesugba reassured LADOL of the agency’s support saying: “We will make sure that the business you want to do survives and nobody cheats you. You can count on the fact that Nigeria will support Nigerians any day. There is work in progress. We will make sure that businesses don’t go elsewhere, and we want businesses to come here.” 

LADOL is building the world’s first Sustainable Industrial Special Economic Zone (SSEZ). LADOL is using the UN’s Sustainable Development Goals (SDGs) to build a unique circular ecosystem, servicing a range of industries. 

The Zone was developed out of a disused swamp and has been operational since 2006. Every year since then the infrastructure and facilities have grown and expanded. The Zone now provides a 24/7 efficient, safe, and secure location from which local and international companies, in a range of sectors, can start operating immediately. In 2017 LADOL disrupted the local oil and gas market, halving the costs of local support, and creating thousands of local jobs. LADOL is now focused on attracting and servicing a range of non-oil and gas companies, in sectors ranging from technology to agriculture. The sectors identified will work together to create a circular economy within the Zone. West Africa is one of the largest under-served markets in the world with the fastest growing population. Industrial companies working in LADOL can service this market sustainably and profitably, while creating tens of thousands of jobs. As the local market grows there will be higher demand for locally produced products, a larger skilled workforce, and cheaper domestic operating costs. 

LADOL is also becoming a blueprint for the Sustainable Industrialisation of Africa, turning Africa’s demographic dividend into a global wealth creation.