Investors seek lasting solution to Lagos free zone’s challenge

Some investors at the Lagos Deep Offshore Logistics Base (LADOL) free zone are still worried about the cost of operations at the zone, and have requested for a more pragmatic and lasting solution, given their huge investment portfolio in the area.

They said the move will not only encourage investors operating in the zone, but will also guarantee Federal Government’s commitment to giving existing and would-be investors the needed assurance and protection.

They, therefore, called for a milder business atmosphere, which they said would drive returns on their investments.

LADOL and its subsidiary company, Global Resources Free Zone Management Company (GRMFZC), have been at the centre of allegations by some investors at the zone.

The investment of a member of Samsung Group of Companies has been identified as a focal point in this quest, as investigations show that investment by Samsung Heavy Industries (SHI) is the most valuable asset of the LADOL Island.