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Lagos Free Zone gets IFC $50m industrial growth investment
Lagos Free Zone gets IFC $50m industrial growth investment
The International Finance Corporation (IFC) has announced an equity investment of $50 million in the Lagos Free Zone Company (LFZ) to support Nigeria’s industrial growth and economic diversification.
Dahlia Khalifa, IFC regional director, Central Africa and Anglophone West Africa, made this known at an official signing on Friday in Lagos.
Ms Khalifa said the investment was to support the development and expansion of Nigeria’s first deep sea port based in the Lagos Free Zone.
She noted the investment was designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria’s economic diversification agenda.
The IFC director stated that the funds would support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure.
She noted that the facility owned by Tolaram, a diversified multinational group with operations across Africa, Asia, and Europe, would provide an integrated industrial ecosystem.
This, she said, would drive efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.
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Ms Khalifa noted that with Nigeria’s economy projected to grow by 3.7 per cent by 2026, investments in infrastructure were vital to ensuring sustainable growth.
“When fully occupied, Lagos Free Zone is expected to create approximately 30,000 direct, indirect, and induced jobs while contributing significantly to Nigeria’s gross domestic product (GDP) upon completion.
“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria.
“Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.
“We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential,” she said.
Ms Khalifa added that the investment in Lagos Free Zone also reflected IFC’s commitment to sustainable development, with a focus on green infrastructure.
She noted that approximately 15 per cent of the investment was earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)-certified buildings and climate-resilient infrastructure.
Commenting, Adesuwa Ladoja, managing director of the Lagos Free Zone Company, noted that IFC’s support represented a positive recognition of the vision to establish Lagos Free Zone as a world-class industrial hub.
She said the investment allowed the company to scale up existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.
Ms Ladoja said the Lagos Free Zone integrated with Lekki Deep Sea Port, facilitated ease of doing business in Nigeria, and supports the federal government’s drive for economic diversification.
“We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.
“This investment aligns with Nigeria’s ongoing economic reforms and the IFC’s strategic frameworks, which prioritise economic diversification, the development of competitive clusters, and investments in climate-resilient infrastructure.
“By addressing infrastructure bottlenecks and enhancing connectivity, IFC’s investment in Lagos Free Zone will unlock new opportunities for businesses and strengthen Nigeria’s position as a regional economic leader,” Ms Ladoja said.
Lagos Free Zone gets IFC $50m industrial growth investment
(NAN)
metro
Sokoto Officials Deny Mosque Attack as Bandits Kill Five in Gatawa Raid
Sokoto Officials Deny Mosque Attack as Bandits Kill Five in Gatawa Raid
Chairman of Sabon Birni Local Government Area in Sokoto State, Ayuba Hashimu, has dismissed viral reports alleging that bandits attacked a mosque in the council area, killing an Imam and several worshippers.
Some online platforms had circulated claims that armed bandits stormed a mosque in Sabon Birni, murdered the Imam and congregants, and abducted others.
However, Hashimu, speaking by telephone, described the reports as entirely false.
“I don’t know any mosque that was attacked, not to talk of killing of an Imam and worshippers. The story is false,” he stated.
A member of the state legislature representing the area, Hon. Aminu Boza, also debunked the claims, insisting that no mosque attack occurred on Saturday.
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“I don’t know how they got their story, but it is not true. No mosque was attacked by bandits,” he said.
While officials denied the alleged mosque incident, a separate early morning assault on Gatawa town within the same LGA resulted in five deaths and left one person critically injured.
A resident, who spoke on condition of anonymity, told Daily Trust that six people — including two married women, two teenage girls and two young boys — were abducted by attackers suspected to be bandits.
“The bandits invaded our community around 1:30 a.m. and started shooting sporadically. Our vigilantes engaged them, but four of them paid the supreme price on the spot. Two others sustained gunshot injuries and were taken to the hospital, but one later died,” the resident said.
He added that the attackers also stole livestock as they fled.
“We heard them exchanging fire with security agents, but none of the abducted persons was rescued,” he recounted.
Sokoto Officials Deny Mosque Attack as Bandits Kill Five in Gatawa Raid
metro
FG Begins Recovery of 157 Almajiri Schools
FG Begins Recovery of 157 Almajiri Schools
The Federal Government has commenced the official recovery of 157 model Almajiri schools built during the administration of former President Goodluck Jonathan, in a renewed push to overhaul Almajiri education across the country.
The move was confirmed by Nura Muhammad, spokesperson for the National Commission for Almajiri and Out-of-School Children Education (NCAOOSCE), during an interview in Abuja on Sunday. He described the recovery process as a crucial step toward fully revamping and institutionalising Almajiri education.
Muhammad explained that the effort follows the establishment of a legally backed national body now responsible for all Almajiri-related programmes — a structure he said was missing during earlier reform attempts.
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While commending former President Jonathan for constructing the schools, which he described as “a noble and well-intentioned stride toward modernising the system,” Muhammad noted that the previous initiative struggled due to weak policy implementation, including inadequate engagement with Alarammas, the traditional Qur’anic teachers who play a central role in the Almajiri system.
He added that the lack of a strong institutional framework — with the project operating only as an initiative under the Federal Ministry of Education — contributed to its challenges.
According to him, the Commission is now strengthened by law and guided by the newly adopted National Policy on Almajiri Education, positioning it to deliver sustainable reforms.
Muhammad expressed confidence that harmful practices linked to the Almajiri system would be addressed, emphasising that all recovered schools would soon be fully under the Commission’s control and rehabilitated to serve their original purpose.
FG Begins Recovery of 157 Almajiri Schools
metro
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
The Delta State Police Command has made a significant breakthrough in the investigation into the murder of retired Justice Ifeoma Okogwu in Anambra State, arresting key suspects linked to the case.
Spokesperson SP Bright Edafe disclosed on Sunday that operatives of the Homicide Section of the State Criminal Investigation Department (CID), acting on credible intelligence, apprehended 25-year-old security guard Godwin Mngumi on 6 December 2025. Mngumi allegedly murdered the retired judge, and authorities also recovered the deceased’s mobile phone from him.
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According to Edafe, Mngumi confessed to inviting a friend, Nnaji Obalum, and another accomplice — who remains at large — to the residence where the crime was committed. Obalum has since been arrested, while a manhunt continues for the third suspect.
The arrests mark a major step forward in the effort to bring all perpetrators of the high-profile murder to justice.
Delta State Police Arrest Suspects in Killing of Retired Justice Ifeoma Okogwu
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