3 months ago
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Alaro City, Nigeria’s free zone, has made significant strides in transforming the industrial landscape of the country.
The initiatives aimed at job creation and addressing housing deficits within West Africa’s fastest-growing corridors, Alaro City is becoming a beacon of hope for local and foreign direct investments (FDIs), profoundly impacting Nigeria’s economic development.
Speaking at a recent media parley, the managing director of Alaro City, Yomi Ademola emphasised the city’s predictable and secure environment that leverages free zone benefits. These advantages enable many companies to achieve up to 43 per cent annual profit growth, reducing market uncertainties and de-risking business development on both national and global scales.
Ademola, highlighted Alaro City’s pivotal role in West African industrialisation, housing businesses across diverse sectors such as manufacturing, logistics, technology, and renewable energy. The city’s vast 16,500 hectares of valuable land are strategically located near the well-organised and functional Lekki Deep Sea Port. The port’s automated call-up system and extensive road networks facilitate seamless transportation to Lagos and other parts of Nigeria.
“In addition to its industrial park, Alaro City offers residential areas for businesses and private individuals, providing proximity to workplaces within the Lekki Free Zone. The city also features managed green spaces, offering residents and workers access to nature, recreational areas, and a healthier living environment.”
According to him, situated on 2,000 hectares of prime land, Alaro City is home to 73 leading companies, including BUA Group, Mantrac Caterpillar, Ariel Foods, TY Danjuma Holding, Kenol, SANA Group, and many others. With a milestone target of 80 companies in sight, Alaro City is a strategic catalyst for foreign direct investment and supports the growth of local businesses and SMEs. By operating within the free zone, companies like Ariel Foods are meeting global production standards, positioning Nigeria as a top exporter of Ready-To-Use Therapeutic Foods (RUTF) on the continent.
“He further stated, that with state-of-the-art facilities and a supportive regulatory framework, Alaro City aims to become a hub for industries ranging from automotive assembly and electronics manufacturing to pharmaceuticals and consumer goods production. This diversification is expected to create numerous jobs, fostering a more resilient and dynamic economy.”
Ademola, while encouraging SMEs to leverage the opportunities within Alaro City to scale up operations and achieve profitability. The city provides the utilities and security necessary for seamless business operations in a conducive environment.
He also called on stakeholders and the media to promote positive narratives about Nigeria’s investment opportunities, encouraging investors to contribute to a competitive and thriving market.
He said, Alaro City is conceived as a 2,000-hectare city development located within the Northwest Quadrant of the Lekki Free Zone. Alaro City has a registered and unencumbered C of O title and is furnished with industrial grade standard roads (including an 8-lane, 60-meter-wide boulevard which is one of the largest privately owned roads in Africa), 24-hour electricity via our privately owned IPP, water, drains, sewage as well as access to ICT. “However, rendezvous is Africa’s biggest new city builder endorsed by the Economist magazine. By providing secure land title, world-class master planning, high-quality infrastructure and utilities, Rendeavour de-risks large land holdings for city-scale developments.
Our mixed-income cities provide homes, offices, industrial areas, schools and hospitals, allowing residents to live, work and play without the daily burden of commuting into and across congested regions.”
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