Kogi unveils free trade zone, targets $5bn FDI

FILE: Governor Ahmed Ododo of Kogi State

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Kogi State Government on Tuesday unveiled the Ajaokuta Economic City, projected to attract between $2 billion and $5 billion in foreign direct investment to Nigeria over the next seven years.

Speaking at the ceremony in Abuja, Governor Ahmed Ododo described the unveiling as a milestone in the economic development of the state, saying the Economic City would redefine Kogi’s participation in national and global commerce.

The News Agency of Nigeria reports that the event, attended by government officials, private-sector players, and a Chinese delegation, marked the operational launch of the free trade zone, which had earlier received federal approval.

Also known as the Kogi–Hunan Free Trade Zone, the project was described by stakeholders as the most ambitious industrialisation initiative in the state’s history.

“Today we unveil the Ajaokuta Economic City, a project whose scale, purpose, and transformative potential place it among the most visionary economic undertakings in the history of our nation,” Ododo said.

He explained that the free trade zone is the result of rigorous multi-level engagements, including technical evaluations and consultations with the Zhuzhou Municipal Government of Hunan Province, Nigeria’s institutional partners, and private-sector investors.

The governor announced a dedicated security framework for the Economic City.

“For my administration, security remains an uncompromising priority. We have strengthened intelligence operations, enhanced surveillance systems, and deepened our collaboration with national security agencies.

“The Ajaokuta Economic City will operate under a dedicated security framework to protect life, infrastructure, and capital,” he said.

Ododo added that investment thrives only in secure environments and reaffirmed the state’s commitment to safeguarding the project at every stage of its development.

He also addressed critics questioning the visibility of his administration’s achievements.

“Our projects are not audio. This is what we are doing in Kogi State. Some people say Ododo is not talking; he is not working. I am not supposed to blow my trumpet, but I have less than three years in office. My mission is to serve my people,” he said.

The governor invited journalists and stakeholders to Kogi from January 3 for a three-week inspection and commissioning tour of the project.

Ododo expressed gratitude to development partners, investors, and citizens, calling the Ajaokuta Economic City “a seed of generational prosperity” that will position Kogi as a major industrial and commercial hub.

In his opening remarks, Mr Salami Inda, Chief Economic Adviser to the Governor and CEO of the Kogi State Investment Promotion and Public-Private Partnership Agency, said the free trade zone sits on 4,000 hectares of land, positioning Kogi as a future industrial powerhouse.

“We have received presidential approval for the Ajaokuta Economic City, and today we are unveiling a major step in the journey toward industrialising Kogi State,” Inda said.

He thanked President Bola Tinubu for his support and commended Governor Ododo for leading the initiative.

Inda added that the project aims to expand Kogi’s revenue base, stimulate large-scale industrial investment, and accelerate the state’s integration into global value chains.

In a keynote speech, the Chinese delegation, led by Mr Li Zhensheng from Zhuzhou Municipality in Hunan Province, reaffirmed China’s commitment to the partnership.

Zhensheng described the collaboration under the Kogi–Hunan Sister Province relationship as a long-term strategic investment in industrial development, technology transfer, and trade expansion, calling the Economic City “a flagship cooperation project with massive potential for joint prosperity.”

Delivering the technical presentation, Governor’s Technical Adviser Dr Sanni Ozomata said the Economic City is positioned to transform Kogi into a self-reliant industrial hub.

“In the next seven years, the Kogi Free Trade Zone is projected to attract between $2 billion and $5 billion in foreign direct investment.

“The zone will create at least 50,000 direct and indirect jobs, with Phase One alone targeting 10,000–15,000 jobs,” he said.

Ozomata also projected $500 million in annual export value within five years, establishment of a 100-megawatt power facility, development of a rail connection to national lines, and opportunities in agro-processing, logistics, mining, manufacturing, technology, and innovation.

He highlighted Kogi’s strategic advantage as Nigeria’s central logistics hub, bordered by ten states and the Federal Capital Territory, with rich mineral and agricultural resources.

In his goodwill message, Kogi’s Commissioner for Finance, Budget, and Economic Planning, Asiwaju Asiru Idris, urged investors to seize the opportunity.

“Kogi State has provided the institutional and legislative framework to guarantee investment success. Returns will be strong, sustainable, and secure. If Dangote, Mangal, and others are in Kogi, why are you not yet in Kogi?” he said.

(NAN)

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