Sanwo-Olu inaugurates Irele Tower, boosting LFZ investment drive

Governor Babajide Sanwo-Olu has inaugurated Irele Tower, the first commercial building within the Lagos Free Zone, marking a major milestone in the development of the Lekki economic corridor.

The nine-storey, EDGE-certified structure sets a new benchmark for sustainable workspace in one of Nigeria’s fastest-growing investment hubs.

Designed for both office and retail use, Irele Tower aligns with global standards for green buildings, delivering 26 per cent energy savings and 46 per cent reduction in water consumption.

Inspired by maritime architecture due to its proximity to the Lekki Deep Sea Port, the eco-friendly facility reflects modern design efficiency.

EDGE, an innovation of the International Finance Corporation (IFC), a member of the World Bank Group, enables emerging markets to adopt resource-efficient building practices.

Speaking at the inauguration, Sanwo-Olu described the project as a significant step in advancing his administration’s THEMES agenda, aimed at positioning Lagos as a 21st-century economy through sustained economic growth and infrastructure development.

He said developments like Irele Tower are key to unlocking the full potential of the Ibeju-Lekki axis, especially with major investments such as the Lekki Deep Sea Port already driving industrial expansion.

The governor added that the state government would continue to partner with private investors to promote sustainable urban development, generate employment and strengthen Lagos’ position as a leading commercial hub in Africa.

“The commissioning of Irele Tower demonstrates what strong collaboration between the public and private sectors can achieve. This project enhances the infrastructure profile of the Lagos Free Zone and supports our vision of making Lagos a premier destination for investment and economic activities. We will continue to back initiatives that drive industrial growth, create jobs and improve the business environment,” he said.

Managing Director and Chief Executive Officer of Lagos Free Zone, Adesuwa Ladoja, said the project reflects the zone’s commitment to building an integrated business ecosystem supported by modern infrastructure, strategic location and efficient logistics.

She noted that the tower was conceived to meet rising demand for premium commercial spaces, driven by increased investor interest following the operationalisation of key projects in the Lekki axis.

“The commissioning of Irele Tower marks a defining moment in our journey to develop a world-class industrial and commercial hub. It reflects our commitment to delivering high-quality infrastructure that enhances ease of doing business and operational efficiency for our tenants. As the first commercial tower in the Lagos Free Zone, it sets a new standard for workspace in this corridor,” she said.

With a gross floor area of about 12,000 square metres, Irele Tower offers modern workspaces tailored to evolving business needs.

The facility features premium amenities, including office suites, retail outlets, parking facilities, shared workspaces and a rooftop cafeteria, providing a fully integrated business environment.