NEPZA Deepens EU Ties, Urges Investment in Nigeria’s Special Economic Zones
The Nigeria Export Processing Zones Authority (NEPZA) has intensified efforts to strengthen economic cooperation with the European Union (EU), calling for increased European investment in Nigeria’s Special Economic Zones (SEZs) as a pathway to shared prosperity, industrial growth, and resilient supply chains.
The call was made by NEPZA’s Managing Director and Chief Executive Officer, Dr. Olufemi Ogunyemi, on Monday during a high-level trade and investment facilitation meeting held at the European House in Abuja.
Addressing European ambassadors, heads of EU delegations, and senior representatives of the European Commission and the European External Action Service, Dr. Ogunyemi described Nigeria’s Free Zones as strategic platforms capable of deepening EU–Nigeria economic relations at a time of profound global economic realignment.
“It is a privilege to address this distinguished gathering at this critical moment in global economic history,” Ogunyemi said. “Our discussion today examines how Nigeria’s Free Zones, under NEPZA’s strategic framework, can serve as effective platforms to enhance EU–Nigeria economic cooperation amid significant structural change.”
He noted that as the global economy transitions from a predictable, rules-based order to one shaped by shifting alliances and economic pressures, the European Union stands to benefit from leveraging Nigeria’s Special Economic Zones as hubs for industrial production, value addition, and supply-chain diversification.
“As the global order shifts, the European Union should increasingly leverage Nigeria’s Special Economic Zones to expand and deepen our existing economic partnership,” he added.
Dr. Ogunyemi referenced the EU’s evolving economic strategy, which prioritises resilience, diversification, and reduced dependence on narrow supply sources, noting that Nigeria aligns naturally with this vision.
“We recognise how EU leaders have articulated a vision of European independence and economic strength rooted in diversified, resilient, and strategically aligned partnerships, rather than reliance on a narrow set of global suppliers,” he said.
According to the NEPZA chief, increased European economic activity along Nigeria’s SEZ corridors would not only reduce dependency risks but also strengthen critical supply chains and stimulate industrial growth across West Africa’s fastest-growing regions.
He further observed that the EU’s ongoing economic realignment underscores the urgency of building partnerships with Africa that are mutually beneficial and anchored on shared priorities, adding that Special Economic Zones offer a practical framework to accelerate these outcomes.
Highlighting the scale of existing trade relations, Ogunyemi noted that the European Union remains Africa’s largest trade and investment partner, with trade in goods between both continents reaching nearly €355 billion in 2024, while trade in services exceeded €100 billion.
However, he cautioned that the structure of this trade remains heavily skewed toward Africa’s export of raw materials, a pattern he described as a shared strategic challenge.
“Overreliance on primary commodities without meaningful value addition hinders industrial growth, limits human capital development, and threatens the long-term sustainability of supply chains between Africa and the EU,” Ogunyemi said.
He stressed that targeted investment in Nigeria’s Special Economic Zones could help correct these imbalances by fostering industrialisation, boosting manufacturing capacity, and creating higher-value exports for both markets.
The meeting drew participation from European nations’ ambassadors, heads of EU member state delegations, and senior officials of EU institutions, reflecting growing interest in Nigeria’s SEZ framework as a driver of long-term economic collaboration.
