Kogi State Governor, Ahmed Ododo, has officially launched the Ajaokuta Economic City, a new Free Trade Zone (FTZ) designed to boost industrial growth, attract foreign investment, and create employment opportunities. The unveiling took place during a stakeholders’ engagement at the Transcorp Hilton, Abuja.

Governor Ododo described the project as “a new chapter in Kogi’s industrial growth” and assured investors of a robust security framework within the zone. He emphasized the importance of higher institutions in supplying skilled manpower for the initiative, stating: “Today, we plant the seed of generational prosperity. Kogi State is the beating heart of Nigeria. We don’t talk. We do.”

Project Highlights:

• Size & Scope: 4,000-hectare FTZ.
• Foreign Direct Investment: Expected $500 million annually.
• Job Creation: Estimated 50,000 direct and indirect positions.
• Infrastructure: Includes power supply, rail lines, inland waterways, and multimodal transport links.

International Partnerships:

• China: Led by Li Zhensheng, pledging industrial expertise and technology transfer.
• Turkey: ÖZTÜRK HOLDING Co. LLC committed to investing in oil, gas, and logistics, using funding models that place no burden on government.
• Nigeria: Endorsed by agencies including NIPC, NEPZA, CBN, and the North Central Development Commission.

Incentives for Investors:

• 100% capital repatriation.
• Tax exemptions and sector-specific investment windows.
• Educational exchange programs with Hunan Province, China.
• Administrative framework signed by Aliyu Salami (Kogi State), Li Zhensheng (Zhuzhou Municipality), and Alhaji Isyaku Rabiu (IRS Group).

Economic Impact:
The FTZ is structured as a one-stop industrial ecosystem, expected to strengthen manufacturing, logistics, and technology sectors while aligning with the Federal Government’s Renewed Hope Agenda.

Governor Ododo expressed confidence in the zone’s potential to transform Kogi into an industrial and investment hub, emphasizing security, skilled manpower, and long-term prosperity for the state.