Free Trade Zones

NEPZA secures $100 million deal in new Lekki Special Medical/Pharms FZ

The Nigeria Export Processing Zones Authority (NEPZA) has secured an anchor tenant, Ash Biomedical Diagnostics Limited, which is ready to invest an initial capital of $100 million without delay in the production of a variety of medical equipment in the medical field. /recently approved pharmaceutical. Free zone in Lekki, Lagos.

Prof. Adesoji Adesugba, Managing Director of NEPZA, Prof. Adesoji Adesugba revealed this Thursday in Abuja after a meeting with the company’s team led by its Managing Director/CEO, Mr. Ade Shodeinde.

According to a press release issued Friday by the Authority’s head of corporate communications, Martins Odeh, the NEPZA boss said the breakthrough was based on the Authority’s relentless investment campaigns and the potential targeted investment inside and outside the country.

“Today can only be described as a turning point in our quest to bring world-class medical companies to the Lekki Medical Free Zone.

“Recall that we announced on March 21 that dozens of potential anchor tenants have come to us to establish world-class hospitals and pharmaceutical industries in Lekki Special Medical Free Zone with the aim of ending unnecessary medical tourism in the stranger.

“Let me reiterate that we are indeed open to bringing world-class pharmaceutical companies into the zone to service not only Nigeria but also Africa and the rest of the world from Lekki.

are unimaginable and we are happy to have found an anchor tenant who will immediately open the place for operation,” said Adesugba.

Meanwhile, NEPZA has agreed to deliver the next Nigeria (Kano) and Chinese Business Forum aimed at bringing closer investment exchanges between Nigeria and China.

Adesugba said this when he welcomed the Executive Officer of the Chinese Embassy in Abuja, Mr. Wu Bao-Cai.

He said it was time for Nigeria and China to step up their economic relations to a more sophisticated level, adding that NEPZA was working diligently to use the free trade area to boost development like China is doing.

In response, Bao-Cai said China has made no secret of its interest in using its wealth, technology and human capital to help develop the African continent.

“We have many Chinese companies looking to establish themselves in Nigeria from where they can serve the rest of the world. Nigeria will become a hub for many Chinese manufacturing companies. For example, we are looking for avenues to start manufacturing electric cars in Nigeria, among others,” he said.