Lagos State Governor, Babajide Sanwo-Olu, has said the newly opened Irele Tower at the Lagos Free Trade Zone reflects the state’s infrastructure-led growth strategy and its efforts to strengthen Lagos as an investment destination.
He added that the Lagos Free Trade Zone continues to support industrialisation, job creation, and economic diversification as investor activity expands along the Lekki corridor.
In a statement on Wednesday, it was stated that the nine-storey Irele Tower provides about 12,000 square metres of office and retail space within the zone, increasing commercial capacity for companies seeking proximity to port, logistics, and industrial infrastructure.
The development comes amid rising demand for office space from local and international firms operating within the Lekki axis, where industrial and logistics investments have continued to grow.
Designed as an EDGE-certified building by the International Finance Corporation, the tower incorporates features aimed at reducing operational costs.
It is expected to use about 26 per cent less energy and 46 per cent less water than conventional buildings, while also improving indoor environmental quality for occupants.
Managing Director of Lagos Free Zone Company, Adesuwa Ladoja, said the development aligns with the zone’s focus on creating an integrated business environment anchored on infrastructure, location, and logistics. She noted that demand for high-quality and efficient workspaces has increased alongside investor interest in the area.
Managing Director and Chief Executive Officer of First City Monument Bank, Yemisi Edun, said the bank’s early support for the project reflects confidence in the long-term potential of the zone. She added that Irele Tower demonstrates coordinated financing and development, noting that FCMB remains positioned to support growth following its recapitalisation.
The Lagos Free Trade Zone continues to evolve as a hub linking industry, trade, and services. The addition of Irele Tower expands its commercial footprint while contributing to the adoption of resource-efficient building standards within the corridor.
