…Project will turn potential to real economic impact’ — Governor
Lagos State Governor Babajide Sanwo-Olu, on Thursday, formally unveiled a new commercial complex in the heart of Nigeria’s fastest growing industrial corridor — Lekki Free Trade Zone, Ibeju Lekki.
The nine-storey Irele Tower opened a new vista of enterprise in the industrial city hosting the nation’s deepest seaport, becoming the commercial and administrative layer of the ecosystem that has become an integrated hub for the financial, maritime, logistics and trade businesses that complete a port economy.
The landmark project, constructed by Lagos Free Zone (LFZ), is the first of six commercial towers proposed to drive economic activities in the international trade area.
Irele Tower, designed to provide a world-class work environment, was completed with six premium office floors, retail space, rooftop cafe and terraces, and multi-level car park.
Inaugurating the facility, Sanwo-Olu noted that the development demonstrated the power of public-private collaboration, pointing out that Lagos provided the enabling environment for investors to bring vision, capital, and expertise to drive socio-economic impact.
The Governor said the project’s concept aligned with the State Government’s guiding vision for globally competitive markets, stressing that its full operation would open more international trade opportunities for stakeholders operating in the ecosystem.
He said: “Irele Tower, developed within the Lekki Free Trade Zone, is a remarkable private sector development that strengthens Lagos State’s vision for a globally competitive industrial and commercial hub. It complements the Lekki Deep Seaport and the broader industrial corridor, providing modern commercial space for businesses in logistics, maritime trade and export facilitation.
“The project serves as an advantage that will turn potential into real economic impact, because businesses operating in the free zone enjoy direct access to global shipping routes, frictionless port-to-zone cargo movement, and proximity to Nigeria’s largest consumer and industrial markets. The tower’s proximity to the deep seaport and industrial infrastructure creates a self-sustaining economic hub, which exemplifies economic clustering at its finest.”
Sanwo-Olu said the development highlighted the tangible benefits of the Blue Economy, noting that the commercial complex would enable businesses to capitalise and sustain on the oceans and maritime resources.
With waterways and ports serving as gateways for trade and logistics, the Governor said the development would translate the maritime potential of Lagos into real economic value for residents.
“Irele Tower places commercial intelligence and essential business services at the very heart of the port ecosystem, unlocking the full potential of the Blue Economy, streamlining supply chains, lowering logistics costs, and positioning Lagos as a top destination for global investors. Its presence is more than functional; it signals the scale and sophistication of the opportunities that come with it,” Sanwo-Olu said.
LFZ Managing Director, Mrs. Adesuwa Ladoja, said the tower’s construction started in September 2022, with the structural work completed in 2024. Two years later, she said other ancillary facilities were completed, making the building fully usable.
The project, Ladoja said, was completed in one million man-hours without a single accident recorded during construction.
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