The Federal Government has reaffirmed its commitment to enhancing exports and attracting investments by strengthening Special Economic Zones (SEZs) across Nigeria. This initiative is part of a broader strategy to drive economic growth, industrialization, and global competitiveness.
SEZs as Catalysts for Growth
Speaking at the 3rd Special Economic Zones Annual Meeting, Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlighted the critical role SEZs play in attracting foreign direct investment (FDI), driving industrialization, and creating employment opportunities.
Oduwole noted that Nigeria has made significant progress in expanding SEZs, with over $300 billion in investments and substantial job creation. However, she acknowledged that the country still faces policy inconsistencies, infrastructure deficits, and bureaucratic challenges.
To address these issues, the Federal Government is prioritizing:
✅ Regulatory Synergy – Ensuring policy alignment across agencies
✅ Trade Facilitation Initiatives – Enhancing ease of doing business
✅ Digital Special Economic Zones – Establishing a thriving digital economy
Positioning Nigeria for AfCFTA Opportunities
With the implementation of the African Continental Free Trade Area (AfCFTA) agreement, Nigeria is positioning itself as a continental hub for digital services exports. The government plans to:
- Facilitate cross-border transactions
- Establish industrial parks and SEZs
- Support partner countries in leveraging geopolitical realignment for economic growth
Industry Leaders Endorse SEZ Impact
In his welcome address, Chairman of the Nigeria Economic Zones Association, Chief Nabil Saleh, emphasized the transformative impact of SEZs on Nigeria’s industrial landscape.
“The SEZ scheme has driven industrialization in ways that were once unthinkable, with projects like the Lekki Quadrant turning Lagos State into a global hub of industrial activity. These projects attract investment, create thousands of jobs, and set benchmarks for integrated economic zones worldwide,” he stated.
Similarly, Managing Director/CEO of the Oil and Gas Free Zones Authority (OGFZA), Bamanga Usman Jada, commended President Bola Tinubu for his unwavering commitment to attracting and sustaining huge investments into Nigeria’s SEZs from both foreign and domestic investors.
A Path to Economic Transformation
By strengthening policy frameworks, digital integration, and trade facilitation, Nigeria aims to maximize the potential of SEZs as engines of industrialization, job creation, and global competitiveness.
