Kogi State Gets Boost with 4,000-hectare Free Trade Zone

Dayo Thomas

The Federal Government has approved the establishment of a 4,000-hectare Free Trade Zone in Kogi State, aimed at unlocking the state’s economic potential and complementing efforts to revive the Ajaokuta Steel company. Governor Ahmed Usman Ododo stated that this move will reposition Kogi State as a major industrial and investment hub in Nigeria

The Ajaokuta Economic City Free Trade Zone is expected to attract significant foreign direct investment, with projections between $2 billion and $5 billion over the next seven years. This investment is anticipated to create at least 50,000 direct and indirect jobs and generate $500 million in annual export value within five years. The zone will focus on key sectors such as agro-processing, logistics, mining, manufacturing, technology, and innovation

The project is part of the government’s efforts to improve Nigeria’s investment climate, expand special economic zones, and leverage the country’s solid minerals sector. The Nigerian Export Processing Zones Authority (NEPZA) has officially issued the license for the Ajaokuta Economic City Free Trade Zone, marking a significant milestone in the country’s economic development