Kogi State has secured a Declaration License from the Nigeria Export Processing Zones Authority (NEPZA) for the Ajaokuta Economic City Free Trade Zone, formally clearing the path for the launch of one of Nigeria’s most ambitious industrial corridors.
The development was announced on Thursday by Kingsley Fanwo, the Kogi State Commissioner for Information and Communications, in Lokoja, according to the News Agency of Nigeria.
The license was presented to Governor Ahmed Ododo at NEPZA’s headquarters in Abuja, marking what state officials described as a significant milestone in Kogi’s economic transformation drive.
Fanwo said the Ajaokuta Economic City Free Trade Zone is positioned to become a major engine of investment, job creation and export growth. He added that the project aligns with the state’s broader push for industrialisation and economic diversification.
Olufemi Ogunyemi, NEPZA’s Managing Director congratulated the Kogi State Government, expressing confidence in its ability to develop the Economic City into a thriving investment hub.
Free Trade Zones have proven effective in accelerating industrial growth across Nigeria. Notable examples include:
- Lekki Free Trade Zone – Attracts multinational firms in manufacturing and logistics.
- Onne Free Trade Zone – Supports oil and gas operations through its port access.
- Eko Atlantic City – Blends urban development with commercial and financial services.
By replicating elements of these models, strategic location, infrastructure development and investor-friendly policies, Kogi aims to position Ajaokuta as a leading commercial and industrial corridor.
As of early 2023, Nigeria accounted for 46 of Africa’s 240 Free Trade Zones, with 30 operational at the time. The number is expected to rise as more states seek licenses to boost local industrial capacity.
Free Trade Zones, also known as Special Economic Zones, operate under special legal and regulatory frameworks designed to attract investment. They typically provide:
- Tax incentives
- Simplified customs procedures
- Streamlined regulatory processes
These zones support manufacturing, agribusiness, solid minerals, oil and gas, textiles, electronics and food processing, among others.
With the NEPZA license now secured, the Ajaokuta Economic City Free Trade Zone is expected to draw domestic and foreign investors, create thousands of jobs and strengthen Kogi’s role in Nigeria’s industrial landscape for years to come.
