A strategic joint venture agreement has been signed between the Lagos Free Zone (LFZ) and CEVA Logistics. The deal will advance integrated logistics solutions in Nigeria and West Africa.
Under the agreement, a warehouse will be put in place within Lagos Free Zone, home to Nigeria’s Lekki Deep Sea Port. This facility positions importers to seamlessly access West African markets, particularly multinational manufacturers serving the region.
Importers leveraging the free zone warehouse facilities at Lekki Port will benefit from duty-free exports to the Economic Community of West African States (ECOWAS) markets, creating a streamlined and cost-effective logistics solution.
Because the logistics journey to this region requires a deep understanding of trade lanes, local port operations, and customs procedures, CEVA Logistics stands the chance to use its experience to deliver quality service to customers.
The JV will enable businesses to focus on their core operations while ensuring a seamless journey for goods from global origins to West African destinations.
According to the Vice President of Air and Ocean Product at CEVA IMEA, Jean-Baptiste Rambaud, the partnership will mark a new phase of enhanced logistics solutions, leading to a seamless journey for global trade in West Africa, a region with its dynamic and youthful population that represents a key growth market for global manufacturers, especially in the FMCG sector.
“Our targeted investments in Nigeria reflect our commitment to providing uninterrupted logistics services to our global clients exporting to West Africa, including ECOWAS.
“This free zone warehouse is the final piece in creating a seamless logistics journey for goods and products from around the world to West Africa,” Rambaud stated.
Also commenting, the chief executive of LFZ, Ms Adesuwa Ladoja, said, “By integrating Lekki Port, reliable industrial infrastructure, and efficient logistics solutions, we are building a logistics hub for West Africa. Collaborating with CEVA, a global leader in logistics, strengthens our ability to deliver on this vision.”
It was learned that the JV has been approved by the Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria, with CEVA Logistics to hold a majority stake in the newly established entity.