At the Nigeria-India Export Summit, held at the Lagos Chamber of Commerce and Industry (LCCI) in Victoria Island, Lagos, the Lagos Free Zone, Nigeria’s first private special economic zone promoted by Tolaram, has urged Indian businesses to transition from merely trading in the country to engaging in local manufacturing. The aim is to deepen investments in manufacturing and develop export-oriented value chains that can cater to Nigeria, the broader African market, and global destinations.
The call was made by Adesuwa Ladoja, Managing Director and Chief Executive Officer of Lagos Free Zone, during her keynote address at the summit themed ‘Driving Sustainable Export Growth through Trade, Investment, and Market Access between Nigeria and India’.
Ladoja highlighted that the longstanding relationship between Nigeria and India provides a solid foundation for a new phase of economic cooperation, emphasising the need for investment, manufacturing, and value addition to play a larger role in future trade relations.
She pointed out that while energy will continue to be an essential aspect of the relationship, sustainable growth will require both countries to look beyond just commodity exchange and focus on businesses that create products and value locally.
‘For many businesses, the most crucial step is to move from selling in Nigeria to manufacturing in Nigeria. That shift is already underway, and it represents the next wave of value creation. Investing here, establishing a strong local presence, and developing a supply chain that manages inputs and outputs locally are critical for sustainable success,’ she stated.
Ladoja explained that Nigeria’s large market, abundant natural resources, and access to the wider African market, combined with India’s manufacturing and technological capabilities, present significant opportunities for developing competitive production and export value chains.
She added that Lagos Free Zone offers an integrated platform equipped with the infrastructure and connectivity needed to support manufacturing, trade, and exports. This enables businesses to create competitive products while retaining more value within Nigeria.
‘Our message to Indian companies is straightforward: manufacture in Nigeria, for Nigeria, for West Africa, and for the world, including the US and European markets. At Lagos Free Zone, we are prepared to help turn that opportunity into factories, jobs, and exports.
‘We believe the future of Nigeria-India trade should not only be measured by the volume of exchange but by the value we create together,’ she concluded.
In his welcome address, Puneet Arora, the host of the Nigeria-India Export Summit, noted that the summit provided an opportunity to strengthen commercial ties between Nigeria and India while exploring opportunities in trade, infrastructure, agriculture, market access, and investment. He emphasised that sustainable export growth would depend on developing stronger supply chains, increasing investments, and fostering enduring commercial relationships between businesses in both markets.