Tinubu moves to revive Ajaokuta, approves 4,000 hectare free trade zone in Kogi
Tinubu moves to revive Ajaokuta, approves 4,000 hectare free trade zone in Kogi
The federal government has approved the establishment of a 4,000-hectare Free Trade Zone in Kogi state to unlock the vast economic potential of the state and complement ongoing efforts to revive the long-dormant Ajaokuta Steel company.
The Governor of Kogi state, Ahmed Usman Ododo, while delivering the license of the newly approved Ajakuta Free Trade Zone by the Nigerian Export Processing Zones Authority (NEPZA) on Thursday in Abuja, said it will reposition the state as a major industrial and investment hub in Nigeria.
The governor described the development as a “leap to the forefront” of industrialization, crediting President Bola Ahmed Tinubu for granting approval for the initiative in November last year.
According to him, the project located in Ajaokuta will unlock the vast economic potential of the state and complement ongoing efforts to revive the long-dormant Ajaokuta Steel Company.
“Kogi is the only state in Nigeria that borders up to 10 states and the Federal Capital Territory. We are blessed with over 30 solid minerals including gold, iron ore, lithium and beryllium, yet these resources have not fully worked for our people,” he said.
He noted that the Free Trade Zone would serve as a gateway for both foreign direct investment (FDI) and local direct investment (LDI), adding that the state government is committed to ensuring security, infrastructure, and an enabling business environment.
“We are ready to kick-start this project. We are ready to welcome investors from across the world. This certificate is a signal that Kogi State is open for business,” he said.
Responding to concerns about previous failed attempts to revive Ajaokuta Steel Company, the governor expressed optimism that the current administration would get it right.
“Before the end of this year, Ajaokuta will be up and running,” he declared, adding that the Free Trade Zone would boost the economic sustainability of both the state and the nation.
He urged members of the media and stakeholders to visit Kogi to see ongoing development projects firsthand rather than relying on speculation.
The Managing Director of the Nigerian Export Processing Zones Authority (NEPZA), Dr Olufemi Ogunyemi said the Tinubu administration is taking deliberate steps to revive dormant free trade zones across the country.
He explained that when a President declares a Free Trade Zone, it comes with obligations: job creation, technology transfer, and community development.
“If a zone is inactive, it is not creating jobs, not transferring technology and not contributing to community development. That is a waste, and we are determined to change that,” he said.
He cited efforts to reactivate previously dormant zones, including Tinapa in Cross River State and zones in Jigawa and Borno states, noting that financial challenges, insecurity and weak business models were among the reasons some zones failed in the past.
“This is a global model. Free trade zones bring industry, manufacturing and services. They attract FDI and integrate local economies through backward linkages. We will continue to support states to make these zones viable,” he said.
