The Nigeria Export Processing Zones Authority (NEPZA) has urged American investors to explore opportunities in Nigeria’s free trade zones, stressing that partnerships in the sector could accelerate job creation, strengthen exports, and drive industrial competitiveness.
Managing Director of NEPZA, Dr. Olufemi Ogunyemi, made the call while delivering a lecture at the sidelines of the ongoing United Nations General Assembly (UNGA) in New York.
His presentation, titled “Free Zones and Industrial Competitiveness: Catalysing Investment Through Regulatory Innovation,” was delivered at a side event themed “Ease of Doing Business in Nigeria: A New Era of Economic Opportunities.”
Practical business enclaves
According to Ogunyemi, Nigeria’s free trade zones are designed to serve as “practical business enclaves” that provide industrial upgrading and attract regionally scalable investments.
He encouraged American institutions and investors to undertake site visits to the Lagos Free Zone, Lekki Free Zone, and Abuja Industrial Park Free Zone, among others, to see firsthand the infrastructure and anchor tenants already in place.
“We are seeking partnerships for anchor projects that can be transformed into factory shells for SMEs, create jobs, and deepen local procurement content,” he said.
- He added that opportunities also exist for co-financing shared infrastructure, which would support tenant investments and help scale production for export markets.
- Ogunyemi assured investors of NEPZA’s commitment to provide regulatory clarity, facilitate due diligence, and deliver the enabling structures needed to move conversations into concrete commitments.
- He noted that the authority has adopted world-class mechanisms to boost industrial competitiveness, focusing on infrastructure, regulatory predictability, cluster effects, and expanded market access.
Private sector key to infrastructure development
Highlighting the Federal Government’s stance, Ogunyemi said private capital remains central to infrastructure development in free trade zones, whether fully private or through public-private partnerships.
He urged investors to consider Nigeria’s vast domestic market as a launchpad for regional expansion and international exports.
He also expressed appreciation to the Presidency for including NEPZA in Nigeria’s UNGA delegation and to the Presidential Enabling Business Environment Council (PEBEC) for providing a platform to showcase investment opportunities in Nigeria’s free trade zones to U.S. stakeholders.
What you should know
As part of efforts to attract investments in the free zones, NEPZA last year announced tax breaks, customs duties waiver and other incentives for startups and foreign businesses operating in the zones as part of measures to stem the growing tide of foreign business exit in the country.
- Ogunyemi, who announced the offer, said the initiative aimed to reduce production costs and incentivise companies to maintain operations in Nigeria.
- He added that NEPZA offers a range of incentives designed to attract and retain foreign direct investment.
- He noted that in exchange for these business reliefs, companies would be mandated to train Nigerians, sometimes to a professional level, through CSR activities, which he described as ‘Community Social Regeneration’.
