Kogi State Governor, Ahmed Usman Ododo, has led Chinese and international partners to unveil the Ajaokuta Economic City, a newly approved Free Trade Zone (FTZ) projected to attract $500 million in annual foreign direct investment and create 50,000 jobs.
Speaking at a stakeholders’ engagement held at the Transcorp Hilton, Abuja, Governor Ododo described the launch as a major milestone in Kogi’s industrial growth and thanked President Bola Ahmed Tinubu for granting timely approval and supporting the initiative.
The Governor assured investors of a robust security framework for the FTZ and highlighted the role of tertiary institutions in the state in supplying the skilled workforce required for the project.
“Today, we plant the seed of generational prosperity. Kogi State is the beating heart of Nigeria. We don’t talk. We do,” Ododo said.
Earlier, the Chief Economic Adviser to the Governor and CEO of the Kogi State Investment Promotion and Public Private Partnership Agency (KOSIPPPPA), Aliyu Inda Salami, said the Ajaokuta Economic City reflects the administration’s commitment to ensuring that “Kogi’s resources work for the people.”
Salami noted that the 4,000-hectare site enjoys strategic advantages, including existing power infrastructure, rail access, inland waterways, and multimodal transportation links. He confirmed that the FTZ has secured full presidential approval and that groundwork for Phase One has already been completed.
The head of the Chinese delegation, Mr. Li Zhensheng, described the Kogi–Hunan Free Trade Zone as a flagship achievement of the Kogi–Hunan Sister City partnership, adding that China is ready to deploy industrial expertise to boost manufacturing, logistics, and technology transfer within the zone.
In the same vein, Mr. Hassan of Turkey’s Otreopoli Group expressed interest in investments in oil, gas, and logistics, assuring that his firm would adopt funding models that place “zero burden on government.”
Technical Adviser to the Governor, Dr. Sanni Abdullahi Ozomata, outlined the project’s economic potential, noting incentives such as 100% capital repatriation, tax exemptions, sector-specific investment windows, and educational exchange programmes with Hunan Province. He projected the FTZ would attract up to $500 million in annual FDI and create 50,000 direct and indirect jobs.
Goodwill messages from the Nigeria Investment Promotion Council, the Nigeria Export Processing Zones Authority, the Central Bank of Nigeria, the North Central Development Commission, the Ministry of Finance, and others described the project as a major endorsement of the Federal Government’s Renewed Hope Agenda.
A key highlight of the event was the signing of the administrative framework for the FTZ by Hon. Aliyu Salami for the Kogi State Government, Mr. Li Zhensheng for Zhuzhou Municipality, and Alhaji Isyaku Rabiu of IRS Group as a development partner.
The event brought together investors from Nigeria, China, Turkey, and other countries to explore opportunities within the Kogi–Hunan Free Trade Zone.