Tinubu backs new Ajaokuta free trade zone as Kogi seeks investors
Nigeria’s industrial sector is set for a boost with the approval of the Ajaokuta Economic City Free Trade Zone. Bola Tinubu authorised the project, and Usman Ododo received the official licence in Abuja. The initiative aims to unlock Kogi State’s mineral wealth and attract both local and foreign investment. Stakeholders believe this move could transform Ajaokuta into a major economic hub.
TLDR
- Bola Tinubu approved the establishment of the Ajaokuta Economic City Free Trade Zone, covering 4,000 hectares.
- Usman Ododo received the licence from Dr Olufemi Ogunyemi of the Nigeria Export Processing Zones Authority.
- The zone is expected to attract investment, create jobs, and support Nigeria’s industrialisation drive.
- Kogi State plans to build an international airport to support the economic zone and leverage its proximity to Abuja.
- The new free trade zone brings the total number of such zones in Nigeria to about 46, aiming to boost exports and foreign investment.
