The Nigeria Export Processing Zones Authority has called on the European Union to invest in Nigeria’s special economic zones to boost economic growth, industrialisation and shared prosperity. The appeal was made by NEPZA’s Managing Director, Olufemi Ogunyemi, at a trade and investment facilitation meeting held on Monday, at the European House in Abuja.
Mr Ogunyemi said Nigeria’s free zones, operating under NEPZA’s framework, offer opportunities to deepen economic cooperation with the EU, particularly as global economic alignments shift. He said greater EU engagement in the zones would help diversify partnerships, protect supply chains and reduce overconcentration risks, while supporting economic activity across West Africa.
Also Read: Over 520 Million Children Exposed to War in 2024, Says NGO
He noted that trade in goods between Africa and the EU was valued at nearly 355 billion euros in 2024, with services trade exceeding 100 billion euros, but said limited value addition remains a challenge.
Leave feedback about this
You must be logged in to post a comment.