Free Trade Zones

Coy to invest N41.5 billion in Lekki Medical/Pharmaceutical Special Free Trade Zone

The Nigeria Export Processing Zones Authority (NEPZA) has announced that Ash Biomedical Diagnostics Ltd, an anchor tenant, will invest an initial capital of $100 million (N41.5 billion) in the production of a variety of medical equipment in the recently approved medical/pharmaceutical field. Free zone in Lekki, Lagos.

NEPZA Managing Director, Prof. Adesoji Adesugba, who made the revelation during a meeting with the company’s team led by its Managing Director/CEO, Mr. Ade Shodeinde in Abuja, said the breakthrough was based on authority’s relentless investment campaigns and targeted campaigns. investment potential inside and outside the country.

In a statement from NEPZA’s Head of Corporate Communications, Martins Odeh, Professor Adesuga explained that the company had scaled a series of tests and financial assessments to determine its ability to carry out the expected tasks.

The NEPZA boss said Ash Biomedical Diagnostics Limited had a strong investment capital base, adding that the authority had become more confident in the company’s ability to meet expectations after exposure to its famous and world-class overseas partners.

“Recall that dozens of potential anchor tenants have come to us to establish world-class hospitals and pharmaceutical industries in Lekki Medical Special Free Zone to end unnecessary overseas medical tourism, we are indeed open to bring world class pharmaceutical companies to the area to serve not only Nigeria but Africa and the rest of the world from Lekki.

He added that the prospects for the area are unimaginable and promised to relax the perceived strict rules to ensure the comfort of anchor tenants.

He added that the Lekki Medical Special Free Zone would be a business hotspot with opportunities for other business chains ranging from transport/logistics, power, property development and tourism/hospitality, among others.

He further explained that investors should explore zones similar to Katsina and Ilorin, adding that the federal government expects state governments to take advantage of all types of free zones to accelerate the industrialization of the country.