LFZ first commercial tower opens opportunities for office, retail activities

Irele Tower, the first commercial building within the Lagos Free Zone (LFZ), has opened, offering opportunities for office and retail activities in a sustainable workspace.

LFZ, which is promoted by Singapore-based Tolaram, is the first privately-held deep sea port-based free trade zone in Nigeria. It is centrally located in Lagos, the commercial hub of West Africa’s largest economy, and covers an area of 860 hectares.

Irele Tower, which was inaugurated by Babajide Sanwo-Olu, the governor of Lagos State, is a nine-storey, EDGE-certified development that sets a new standard for sustainable workspace in Lekki, Nigeria’s fastest-growing economic corridor.

It is designed and developed as a sustainable ‘green building’ built for efficiency, with 26 percent less energy and 46 percent less water consumption.

It is an eco-friendly building whose design was inspired by maritime architecture, reflecting its proximity to the Lekki Deep Sea Port. An innovation of IFC, a member of the World Bank Group, EDGE empowers emerging markets to scale up resource-efficient buildings quickly, easily, and affordably.

Sanwo-Olu, at the inauguration, described the delivery of the building as a significant milestone in the development of the economic zone in line with his administration’s THEMES agenda of making Lagos a 21st century economy by boosting economic growth to support the state’s development plans.

The governor noted that developments such as Irele Tower are critical to unlocking the full potential of the Ibeju-Lekki axis of the economic zone, particularly given the presence of the Lekki Deep Sea Port and other major industrial investments within the LFZ.

He assured that the state government will continue to collaborate with private sector players to drive sustainable urban development, create jobs, and position Lagos as a leading hub for commerce and industry in Africa.

“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors. This development not only enhances the infrastructure profile of the Lagos Free Zone but also strengthens our vision of making Lagos a premier destination for investment and economic activities.

We will continue to support initiatives that promote industrial growth, create employment opportunities, and improve the overall business environment in our state,” he said.

Adesuwa Ladoja, the managing director/chief executive officer of Lagos Free Zone, stated that the development reflects the zone’s commitment to creating an integrated ecosystem where businesses can thrive, supported by modern infrastructure, a strategic location, and efficient logistics.

Ladoja explained that the building was conceptualised to meet the growing demand for high-quality commercial spaces within the zone, particularly as investor interest continues to increase following the operationalisation of key projects in the Lekki axis.

“The commissioning of Irele Tower represents a defining milestone in our journey to build a world-class industrial and commercial hub. This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants.

As the first commercial tower within the Lagos Free Zone, Irele Tower, sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise.” she added.

The new facility blends elegance, functionality, and purpose, designed to facilitate seamless business operations. With a gross floor area of approximately 12,000 square metres, the development offers modern workspaces tailored to evolving business needs.

It also offers premium amenities, including office spaces, retail outlets, parking facilities, shared workspaces, and a rooftop cafeteria, creating a dynamic, integrated business environment.