The Nigeria Export Processing Zones Authority (NEPZA) has called on the American Business Council, the US Chamber of Commerce, the Africa-US Chamber of Commerce, and other key development partners to tap into the vast commercial potential offered by Nigeria’s Special Economic Zones.
Dr. Olufemi Ogunyemi, NEPZA’s Managing Director, emphasized this during his presentation titled ‘Free Zones and Industrial Competitiveness: Catalysing Investment Through Regulatory Innovation’ at the sidelines of the 80th United Nations General Assembly (UNGA) held in New York on Thursday.
As highlighted in a statement from NEPZA’s communications director, Martins Odeh, Dr. Ogunyemi described the side event themed “Ease of Doing Business in Nigeria: A New Era of Economic Opportunities” as a crucial platform to align government policies with private sector investment.
He clarified that Nigeria’s Free Zones extend beyond mere land allocations; they serve as dynamic industrial hubs designed to enhance manufacturing capabilities and foster scalable investments across the region.
“We invite U.S. investors and institutions to conduct on-site visits to key locations such as Lagos Free Zone, Lekki Free Zone, and Abuja Industrial Park Free Zone (AIPFZ) to witness firsthand the robust infrastructure and thriving anchor tenants,” Dr. Ogunyemi stated.
He further emphasized the need for partnerships focused on anchor projects that can evolve into factory spaces for Small and Medium Enterprises, thereby generating employment and boosting local sourcing.
“Investors are also encouraged to co-finance shared infrastructure projects that support numerous tenant businesses and help scale export-oriented production,” he added.
Dr. Ogunyemi reassured that NEPZA and its collaborators stand ready to assist with due diligence, offer regulatory transparency, and establish the necessary frameworks for investors prepared to transition from discussions to formal agreements.
He elaborated that NEPZA, as Nigeria’s leading Free Trade Zones regulator, has implemented globally recognized strategies to enhance the zones‘ industrial competitiveness.
“Our approach has consistently improved competitiveness through four interconnected pillars: world-class infrastructure, regulatory certainty, cluster synergies, and expanded market access for operators and investors,” he explained.
Highlighting government commitment, Dr. Ogunyemi noted that the Federal Government, via NEPZA, continues to prioritize private sector-led infrastructure development within Public-Private Partnership (PPP) zones, which are pivotal to the rapid advancement of the Free Zones initiative.
He also urged potential investors to leverage Nigeria’s extensive domestic market as a springboard for regional expansion and global export opportunities.
In closing, Dr. Ogunyemi expressed gratitude to the Nigerian Presidency for including NEPZA in the UNGA delegation and praised the Presidential Enabling Business Environment Council (PEBEC) for enabling the Authority to use this platform to attract U.S. investment into Nigeria’s Free Zones.
