NEPZA secures $100m investment for Lekki Special Medical/Pharms Free zone

The Nigerian Export Processing Zones Authority (NEPZA) has secured an investment worth over $100 million at the Medical/Pharmaceutical Special Free Zone in Lekki in Lagos for the production of a variety of medical equipment.

Speaking at the Free Zone in Lagos, Prof. Adesoji Adesugba, NEPZA Managing Director, revealed that an anchor tenant, Ash Biomedical Diagnostics Limited has prepared without delay to invest initial 100-million-dollar capital in the production of medical equipment in the freshly approved Medical/Pharmaceutical Special

Adesugba said that the breakthrough hinged on the Authority’s relentless investment campaigns and drives across targeted investment potentials within and outside of the country.

According to a statement by Martins Odeh, the managing director explained that the company had scaled through a series of tests and financial evaluations aimed at determining its capacity to carry out the expected tasks.

The NEPZA boss said that Ash Biomedical Diagnostics Limited had a solid investment capital base, adding, also, that the Authority became more convinced with the company’s capacity to deliver on its expectations after being exposed to its famous and world-class foreign partners.

“Today can only be described as a turning point in our pursuit to bring world-class medical enterprises to the Lekki medical-free zone.

“Recall that we announced on March 21 that scores of prospective anchor tenants came to us seeking to establish world-class hospitals and pharmaceutical industries in the Lekki medical special free zone with the aim to end the unnecessary medical tourism abroad.

“Let me reiterate that we are indeed open to bringing into the zone world-class pharmaceutical companies to serve not only Nigeria but Africa and the rest of the world from Lekki.

“The prospects of the zone are unimaginable and we are glad for securing an anchor tenant that will immediately open up the place for operation,’’ Adesugba said.

He further said that the Authority was still prepared to relax perceived stringent rules to ensure the comfort of anchor tenants, adding that the future gains that could accrue to investors who dared to first explore the zone usually would outweigh the initial challenges.

The Lekki medical special free zone remains a business hot-spot with opportunities for other business chains ranging from transport/logistics, electricity, estate development, and tourism/hospitality among others.

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