Tinubu Orders Full Implementation of Digital Free Zones, Targets Global Jobs, Investment

By Nafiu Muhammad Lema

President Bola Ahmed Tinubu has directed the full implementation of Nigeria’s Digital Free Zones initiative within 180 days, as part of efforts to attract global investment, create jobs and enable Nigerian technology companies to operate internationally from the country.

The President gave the directive to the Minister of Trade and Investment, Dr Jumoke Oduwole, who is the Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones.

According to a statement issued on Thursday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said the initiative would make it easier for Nigerian technology and service companies to access global capital, employ Nigerians and develop products for international markets without relocating their businesses and intellectual property abroad.

“Nigeria has the talent, enterprise and ambition to build companies that can compete anywhere in the world. Our responsibility as a government is to ensure that Nigerians do not have to leave Nigeria or rely on other jurisdictions to realise that potential,” Tinubu said.

The President said the initiative was also designed to retain more economic value generated by Nigerian talent through jobs, investment, professional services, intellectual property and the growth of local businesses.

He noted that the Presidential Steering Committee on Digital Free Zones was established to modernise Nigeria’s free zone framework, which was created more than three decades ago, to meet the demands of the digital economy.

“For too long, some of our most promising young entrepreneurs have felt compelled to establish their companies and intellectual property abroad to access global capital and markets. I do not accept that this must remain the case,” he said.

Tinubu said his administration wanted the next generation of African technology, finance and service companies to be built, headquartered and scaled globally from Nigeria.

The initiative is already being implemented through Itana, described by the Presidency as Nigeria’s first Digital Free Zone. Itana has been licensed by the Nigeria Export Processing Zones Authority (NEPZA) to provide a platform for global and pan-African digital and service businesses to establish and operate from Nigeria.

The Africa Finance Corporation is supporting the $500 million Itana Innovation project at Alaro City, Lagos. The project is expected to combine an enabling policy environment with an innovation campus, access to capital and ecosystem services for African startups.

Tinubu said the government’s ambition goes beyond establishing technology parks, stressing the need for companies to be incorporated, financed and governed in Nigeria while serving markets across Africa and the world.

The President also said the initiative could enable young Nigerians in cities including Kano, Enugu, Warri, Minna, Maiduguri and Ibadan to work for global companies without relocating abroad.

He said the Presidential Steering Committee would continue work on regulation, taxation, banking, immigration, arbitration and the digitisation of government processes within Nigeria’s free zones.

Tinubu further said the initiative would position Nigeria to benefit from the expansion of Africa’s digital economy and digitally enabled trade under the African Continental Free Trade Area (AfCFTA).

“Nigeria has the talent and the market to reshape Africa’s place in the global technology and digital economy value chain,” he said.

“This is what our Renewed Hope commitment to a digital economy looks like in practice, and this is how we transform reform into opportunities.”