Kogi unveils free trade zone, targets $5bn FDI

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.