NEPZA Urges Diaspora Investment in Free Trade Zones

NEPZA Urges Diaspora Investment in Free Trade Zones

The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Olufemi Ogunyemi, has called on Nigerians in the diaspora to invest in the country’s free trade zones, citing a 100 per cent profit repatriation policy as a major incentive.

The appeal was made during a series of high-level engagements held alongside President Bola Ahmed Tinubu’s recent visit to the United Kingdom, where Nigerian officials pushed for stronger trade and investment ties.

In a statement signed by NEPZA’s Head of Corporate Communications, Martins Odeh, the agency said Ogunyemi used the opportunity to promote Nigeria’s free zones as viable destinations for foreign direct investment.

He told investors that the zones offer a secure and business-friendly environment backed by incentives designed to support production and exports.

Ogunyemi said, “I urge Nigerians in the diaspora to take advantage of the president’s new, actionable industrial policy by investing in NEPZA free trade zones. The 100 per cent profit repatriation policy is unmatched.”

The engagements were part of activities under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), co-hosted by the UK Minister for Trade, Sir Chris Bryant, and Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole.

The meeting brought together policymakers, investors and business leaders to review progress since the partnership was launched in 2024 and to explore new opportunities for collaboration.

Ogunyemi also highlighted the role of NEPZA in driving non-oil exports, noting that Nigeria currently has 63 free trade zones with over 700 enterprises in operation.

He invited investors to take advantage of the zones, assuring them of policy support, security and access to regional markets.

“We are creating a supportive business environment and working with key institutions to expand investment opportunities,” he said.

The NEPZA boss added that recent engagements with European Union missions in Abuja have already begun to attract interest from foreign investors.

He said the agency is also collaborating with the Presidential Enabling Business Environment Council (PEBEC) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to improve the investment climate.

The statement noted that the UK meetings also addressed issues affecting businesses, including regulatory clarity, investor support and the need to strengthen trade facilitation tools.

Both countries reaffirmed their commitment to deepening cooperation in areas such as digital regulation, intellectual property protection and services trade.

NEPZA said early signs point to growing investor interest, with UK firms showing readiness to expand operations in Nigeria, particularly within the free trade zones.

It added that President Tinubu’s diplomatic engagement and ongoing economic reforms are helping to reposition Nigeria as an attractive destination for foreign investment.