LADOL Sacks another Foreign Investor

Barely two months after Lagos Deep Offshore Logistics (LADOL) terminated the operating licence of Samsung Heavy Industries Nigeria (SHIN) Limited in LADOL Free Zone in Lagos, has the deep offshore logistics provider again sacked Africoat Nigeria Limited from the zone.

THISDAY gathered that this latest development, which might also scare investors eyeing Nigeria’s operating environment, has also sent more Nigerians back to the labour market.

Africoat was conceived to take advantage of the investment opportunities left in the pipe-coating market in Nigeria when Bredero Shaw decided to leave West Africa.

However, investigation has shown that Africoat has received a final notice from LADOL for the removal of its equipment/properties from the free zone after it had earlier terminated the services agreement it signed with the company.

THISDAY, November 27, 2018

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