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Tuesday, October 20, 2015
Lagos Deep Offshore Logistics Base, or Ladol as it is better known, has won a number of awards from fDi magazine, including winner of the sub-Saharan African regional free zone award. The awards are from fDi magazine’s Global Free Zone of the Year 2015 issue.
Ladol is one of Nigeria’s free zones that is built around a specialized port on an island at the entry point into Lagos harbor.
Winning the Large Tenants award, Ladol Free Zone was praised for increasing some 37.5% capacity between 2013 and 2014. Due to the high specification infrastructure, round the clock operations and focus on delivering transparent reliable service to the deep offshore oil and gas market, it has been able to halve the cost of logistics support in Nigeria. This 50% cost saving comes despite the fact that the facilities and equipment are all brand new.
Two other awards given to the logistics base were Commendation for Self-sufficiency and Commendation for Infrastructure Improvements. These two awards were given for the first time and reflect improvements such as the ongoing development of its new 24 MW power plant, due to come online in late 2017.
Dr Amy Jadesimi, Ladol MD, said: “The fDi awards review free zones from across the world, and for Ladol to receive these awards and be recognized in this way is a testament to the great work that the local team has done in putting our free zone on par with the world’s best. Ladol is proud to be one of many significant infrastructure projects in the region that is changing the dynamic of the Nigerian economy, and facilitating business domestically and attracting business from international markets.”
A growing number of international and local companies are now setting up their own facilities in LADOL’s Free Zone, and benefiting from hassle free, low cost access to the largest market in Africa (Nigeria) and the entire West African region. Part of LADOL’s success – as highlighted by the fDi awards – is due to a combination of committed long-term private local investors, who built the infrastructure and facilities, and the investment and partnerships with international companies who want to be part of the world’s next big growth story in West Africa.
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