Tinubu Approves Ajaokuta Free Trade Zone as Ododo Woos Investors

By 𝔸bdulrazak Tomiwa

President Bola Tinubu has officially approved the establishment of the Ajaokuta Economic City Free Trade Zone in Kogi State.

The 4,000-hectare industrial hub is designed to revitalize Nigeria’s steel and solid minerals sectors while driving massive economic growth in the region.

Governor Usman Ododo received the official operating license for the zone from the Nigeria Export Processing Zones Authority (NEPZA) on Thursday. He described the development as a historic turning point that will reposition Ajaokuta as a premier economic gateway for West Africa.

The Governor highlighted Kogi’s strategic advantage, noting that it borders 10 states and the FCT. He emphasized that the state is richly endowed with minerals like coal, iron ore, lithium, and gold, which will finally be utilized to benefit the local and national economy.

In a bid to attract global capital, Ododo invited both local and foreign investors to take advantage of the zone’s incentives. He assured potential partners that his administration is fully prepared to provide the necessary security and logistical support for their operations.

To complement the economic city, the Governor revealed plans to build an international airport in Kogi. This facility aims to handle overflow from Abuja and provide direct logistical support for the industrial activities occurring within the new free trade zone.

Addressing the long-dormant Ajaokuta Steel Company, Ododo stated that the Federal Government is working intensively on its revival. He predicted that the facility would be “up and running” before the end of the year, working in synergy with the new trade zone.

The Managing Director of NEPZA, Dr. Olufemi Ogunyemi, noted that the Ajaokuta zone brings the total number of licensed zones in Nigeria to 46. He pledged the agency’s full support as a “one-stop shop” to regulate and assist investors in making the project a global success.