21st June 2023
Not only is Lagos the economic hub of Nigeria and West Africa but also one of the largest economies on the whole African continent. With the establishment of Lagos’ new Lekki Port as well as the Lagos Free Zone, Nigeria’s epicentre for foreign direct investment is gaining a new momentum. Currently BASF is expanding within the zone and other companies like Arla, Colgate or Kellogg’s are also established. Nevertheless it is still challenging for German businesses to identify good local partners, business opportunities and adequate financing for an expansion into the market.