NEPZA and Borno plan to revive Banki Free Trade Zone
The Nigeria Export Processing Zones Authority has announced its commitment to help the Borno State Government revive the Banki Free Trade Zone. Olufemi Ogunyemi, NEPZA’s Managing Director, emphasized the zone’s potential to drive economic growth in the North-East. Babagana Zulum, the Borno State Governor, expressed optimism about the partnership and pledged significant investment. The project aims to boost regional trade, job creation, and industrialisation.
What we know
- Olufemi Ogunyemi said NEPZA will provide technical and investment support to reposition the Banki Free Trade Zone.
- The zone, located near the Cameroon border, has been inactive for years due to security issues, flooding, poor infrastructure, and limited funding.
- Babagana Zulum stated the state government is ready to invest in infrastructure and create an enabling environment for investors.
- The revival aims to promote cross-border commerce, manufacturing, and export-oriented businesses, supporting Nigeria’s non-oil exports.
- Tijjani Yahaya Kaura, NEPZA Board Chairman, said the board will focus on strengthening export-led growth and industrialisation.
