Tolaram Group, Singapore, is the sponsor for Lekki Deep Sea Port. The Group is one of the leading corporates in Africa with diversified interests in fast moving consumer goods ("FMCG"), energy, infrastructure, distribution, logistics, digital services, paper and textiles.
Tolaram Group was established in 1948 in Indonesia and has evolved over the last six decades into a conglomerate with businesses in 11 Countries over 3 continents. The business headquarters of the Group was shifted to Singapore in 1967 in order to expand the business internationally. It started manufacturing in Indonesia in 1973 and slowly ventured into Nigeria in 1977, Baltics in 1995 and recently into Ghana in 2006.
Lagos Free Trade Zone Company
Lagos Free Trade Zone Company (LFTZC) is fully owned by Tolaram Group and is registered under the NEPZA Act to develop and operate the Lagos Free Trade Zone (LFTZ). Lekki Deep Sea Port will be located within the LFTZ.
Lagos Free Trade Zone is being developed as a multi-product and logistics hub for the entire West African Region. Strategically located 60km east of Lagos, the zone is well connected by road, sea and by air. When fully developed, it will be spread over an area of 805 hectares and will house a number of petroleum and petrochemical complexes, agri-commodity and other manufacturing industries.
Lekki Port LFTZ Enterprise
Lekki Port LFTZ Enterprise (LPLE) is the Special Purpose Vehicle which was awarded the Concession Agreement for development and operations of the Lekki Deep Sea Port by the Nigerian Ports Authority. LPLE is required to develop, build and operate a commer user, multipurpose port under the Concession and has the right to sub-concession terminal operations to other companies.
LPLE, currently fully owned by Tolaram Group of Nigeria, will also have the Nigerian Ports Authority and the Lagos State Government as shareholders. LPLE is registered in the Lagos Free Trade Zone (LFTZ) and has the licence to operate in the Free Trade Zone under the NEPZ Act. This opens a whole host of benefits for Lekki Port in terms of taxes, duties and other constraints.