Abuja, Nigeria
The Governor of Nigeria’s Kogi State, Ahmed Ododo, has officially launched a new Free Trade Zone (FTZ) in collaboration with Chinese and international partners, projecting a major boost to the state’s economy with an estimated $500 million in annual Foreign Direct Investment (FDI) and the creation of 50,000 jobs.
The initiative, named the Ajaokuta Economic City, was unveiled at a stakeholders’ event in Abuja. It is described as a flagship project of the Kogi–Hunan Sister City partnership.
Governor Ododo stated that the project marks a “new chapter in Kogi’s industrial growth” and represents “the seed of generational prosperity.” He confirmed the state’s readiness to support the venture, stating:
“Kogi State is the beating heart of Nigeria. We don’t talk. We do.”
The Governor also assured investors of a robust security framework for the zone and pledged that the state’s higher education institutions would provide the necessary skilled workforce.
Strategic Location and Presidential Backing
The Chief Economic Adviser to the Governor, Aliyu Inda Salami, highlighted the strategic advantages of the 4,000-hectare site in Ajaokuta, noting its existing power infrastructure, rail lines, inland waterways, and multi-modal transportation links.
Mr. Salami confirmed that the project has received full approval from President Bola Ahmed Tinubu, with groundwork for the first phase already completed.
The head of the Chinese delegation, Mr. Li Zhensheng, described the Kogi-Hunan Free Trade Zone as a key achievement of the sister-city partnership. He affirmed China’s commitment to deploying industrial expertise to support manufacturing, logistics, and technology transfer within the zone.
Investment Incentives and Global Interest
The technical advisor, Dr. Sanni Abdullahi Ozomata, detailed the economic blueprint, presenting the zone as a “one-stop industrial ecosystem.” Key incentives for investors include:
- 100% Capital Repatriation
- Tax Exemptions
- Sector-specific investment windows
- Educational exchange programmes with China’s Hunan Province.
International interest was further demonstrated by Turkey’s Otreopoli Group, whose representative, Mr. Hassan, expressed readiness to invest in oil, gas, and logistics, assuring that the funding models would place “zero burden on government.”
The event concluded with the signing of the administrative framework for the FTZ by representatives of the Kogi State Government, China’s Zhuzhou Municipality, and the IRS Group, a development partner.
The project has been widely endorsed by Nigerian federal agencies, including the Nigeria Investment Promotion Council and the Central Bank of Nigeria, as a significant step forward for the Federal Government’s economic agenda.
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