Special Economic Zones in the OIC Region:
Learning from Experience
149
Economic Performance
Table 5-21 – Lekki Free Zone Economic Performance
Economic Performance Indicator Performance Summary
Foreign Direct Investment (USD) Investments into the Lekki Free Trade Zone, LFTZ has
risen to over $15 billion in the last 11 years (2007-2017)
according to the Lagos State Government116
Number of Companies within
SEZ
The number of investment projects has reached 49,
according to Paul Osaji, partner at Paul Osaji and Co.
Estate Surveyors and Valuers. 117
Direct and Indirect Job Creation Information not available
Export Values ($) Information not available
Total Annual Output ($) Information not available
Source: Various (see footnotes)
In terms of broader economic impact of the Free Zone programme across Nigeria, the economic
performance of the country as a whole, in terms of FDI and exports, has improved considerably
since the adoption of the Free Zone programme.
Figure 37 - Nigeria FDI – Net inflows ($)
Source: World Bank (2017) World Bank Open Data. Available from:
116
117
-2000
0
2000
4000
6000
8000
10000
Opening of Lekki Free Zone
Passing of Free Zone Law