Stakeholders Applaud Alaro City in Repositioning Nigeria as a Production Economy

30 May
2024

30 May 2024, Lagos, Nigeria – It was a gathering of industry leaders, policymakers, and stakeholders across the private and public sectors at the recently held Alaro City Trade Summit, to discuss strategies to transform the Nigerian business ecosystem into one that is production driven.

The Alaro City Trade Summit served as a vibrant platform for forging valuable connections, insightful discussions, constructive dialogue and exchange of ideas on pressing issues, best global practices, and emerging opportunities. Various stakeholders acknowledged the unique opportunity presented by Alaro City in creating a sustainable, eco-friendly business model that empowers companies and investors to operate in a seamless environment that positively impacts business objectives.

Alaro City Managing Director, Yomi Ademola stated that Alaro City has been deliberate in its efforts to provide an enabling environment for businesses. Critical road infrastructure investments within Alaro City and connections to the Lekki Expressway and Deep Sea Port allow businesses to optimize manufacturing and foster trade with partners across Nigeria and around the world. He added that businesses enjoy an increase in profit of approximately 43% from the various Free Zone tax incentives when they establish their businesses in Alaro City.

Mr Ademola further stated that Alaro City has a good track record of productivity with SMEs, international companies, multinationals, and domestic players as a distribution and production hub. For example, Ariel Foods, which operates within the therapeutic food sector where Nigeria was a net importer, is making a significant contribution to making Nigeria a net exporter in the field.

Also speaking at the event, the Honourable Commissioner for Economic Planning and Budget, Lagos State, Mr Mosopefolu George, stated that the Lagos State Government was proud of the level of progress made in Alaro City, especially from the project kick-off to the current level of export activities.

He stated that the Lekki Free Zone in which Alaro City operates is within the fastest growing corridor in West Africa, hence the deliberate investment by the Government in critical developments, which include road upgrades, transportation and the 4th Mainland bridge for seamless accessibility.

Mr George also stated that the Lagos State Government is very focused and committed to ensuring that businesses within Lagos State thrive, and that has been the driving rationale for the focus on investing in social developments, Human Capital development and human impact projects that ease the lives of residents and improve business productivity. 

 

About Alaro City

Alaro City is conceived as a 2,000-hectare city development located within the Northwest Quadrant of the Lekki Free Zone. Alaro City has a registered and unencumbered C of O title and is furnished with industrial grade standard roads (including an 8-lane, 60-meter-wide boulevard which is one of the largest privately owned roads in Africa), 24-hour electricity via our privately owned IPP, water, drains, sewage as well as access to ICT.

 About Rendeavour

Rendeavour is Africa’s biggest new city builder endorsed by the Economist magazine. By providing secure land title, world-class master planning, high-quality infrastructure and utilities, Rendeavour de-risks large land holdings for city-scale developments. Our mixed-income cities provide homes, offices, industrial areas, schools and hospitals, allowing residents to live, work and play without the daily burden of commuting into and across congested regions.