Innovation, the backbone of Lagos Free Zone
22 May, 2024
Innovation, the backbone of Lagos Free Zone
Innovation and creativity are the harbingers of growth and success. It is no longer just a buzzword but a fundamental factor which drives an organization to achieve its goals. It is what sets the trail blazers apart and, today, is non-negotiable.
Innovation has been an intrinsic part of Lagos Free Zone’score philosophy since day one and that’s part of s what makes it the most preferred investment destination in Nigeria. Today Lagos Free Zone is fully operational with a total deployed investment of $2.5 billion. It is the only free zone in Nigeria integrated with a deep-sea port. promoting efficient import and export operations.
Reinventing Processes
Guided by the vision to create the smartest and the most advanced industrial hub in West Africa, LFZ has been steadfastly investing in all the key processes to enhance its innovation quotient. As part of its Digital Transformation agenda, smart operation workflows have been developed. LFZ’s Integrated One Portal has various modules such as Investor Relations, E-service, Project Tracking, Medical, Truck Park, HR, and Regulatory & Immigration. One Portal is a seamless interface, which has streamlined process efficiency and added immense value in terms of resource management. Additionally, LFZ has developed a dedicated mobile app that acts as a single interface for all utilities, besides implementing various smart services at the FreeZone.
Creating a Value Proposition
Setting up at LFZ takes less than two weeks on average, thanks to fully developed and plotted land, ready-to-lease warehouses, standard industrial facilities, and streamlined business registration. Along with the world-class infrastructure and terminal services, investors and businesses are also guaranteed a host of preferential policies and incentives by the Federal Government of Nigeria, including exemption from all taxes, levies, duties and 100% repatriation of capital investments. The Free Zone Customs Area Command has also been launched at LFZ to provide operational support to the clients.
Sustainability – The Vanguard of Innovation
“The quest for sustainability can unearth a mother lode of organizational and technological innovations that yield both top-line and bottom-line returns…. By equating sustainability with innovation today, enterprises can lay the groundwork that will put them in the lead …” – Prof. C. K . Prahalad.
This thought echoes why sustainability is at the core of LFZ’s operations. 90% of LFZ’s manual paper-based processes have been automated and made paperless. The transition to paperless document management has not only helped LFZ become more ethical and sustainable as a corporation but has also helped improve business performance. LFZ has even developed SIMS (Sustainability Information Management System) which consists of detailed tracking, analysis, and reporting of all the sustainability initiatives inside the Zone. On the energy sustainability front, a robust gas infrastructure is also being developed in alliance with Optimera Energy, to distribute natural gas to companies operating within the Zone. The station, with an initial capacity of 25 million standard cubic feet per day,will be scalable to 100MMScf/d and reflects LFZ’s commitment to distribute natural gas to the companies operating within the Zone.
On the telecommunications front, LFZ has a standing agreement with MainOnewhich, guarantees 99.5% network availability 24x7fibre optic connectivity inside the Zone.
These substantial efforts have added to the ease of doing business at Lagos Free Zone, making it easier for the clients to conduct their operations with greater flexibility and agility, thus enhancing productivity.
Future Landscape of Innovation
At LFZ there are more developments in the pipeline because pursuit of excellence is an unwavering commitment. A pilot is currently being run for Smart Access Control Systems, with plans for complete implementation once the entrance arch is completed. It manages access into and out of the Zone via QR code and biometrics, ensuring security for all people and properties in the Zone. The system is managed by Zone security officers including those from the Nigeria Police Force and is viable for adding new staff, inviting visitors, responding to instances of security concerns, and also coordinating and communicating with the work force.
The ingenuity and passion with which Lagos Free Zone has embraced innovation has indeed opened a vast plethora of opportunities for the present and prospective clients.
We welcome you to connect with us today, to find out how you can harness the power of the Lagos Free Zone for your business growth.
