Sanwo-Olu opens first commercial tower in Lagos Free Zone

Lagos State governor Babajide Sanwo-Olu on Thursday inaugurated Irele Tower, the first commercial building in the Lagos Free Zone, as activity gathers pace around the Lekki industrial corridor.

The nine-storey development is a shift from core industrial infrastructure to commercial real estate within the zone due to rising investor demand driven by the operationalisation of the Lekki Deep Sea Port and other large-scale projects in Ibeju-Lekki.

Sanwo-Olu said the project underscores Lagos’ strategy to deepen private investment and accelerate growth in emerging economic clusters. He noted that infrastructure within the corridor is increasingly critical to unlocking value across manufacturing, logistics, and services.

“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors,” he said. “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.”

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

Irele Tower introduces Grade A office and retail space into a zone previously dominated by industrial assets, marking a new phase in its development. The building also reflects a tilt towards sustainability, with EDGE certification from the International Finance Corporation, indicating lower energy and water consumption.

Adesuwa Ladoja, managing director and CEO of Lagos Free Zone, said the tower was developed to meet growing demand for high-quality commercial space as companies seek proximity to port infrastructure and integrated logistics.

“This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants,” she said.

With about 12,000 square metres of space, the facility includes offices, retail outlets, shared workspaces and support amenities, positioning it as a hub for corporate and service firms operating in the corridor.

Promoted by Tolaram Group, the Lagos Free Zone spans about 860 hectares and is anchored by the Lekki Deep Sea Port, which is expected to drive trade volumes and reshape logistics across West Africa.

“Irele Tower sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise,” Ladoja said.