Kogi State Secures Major Chinese Investment for Free Trade Zone, Set to Boost Industrial Growth
The Kogi State government has announced a landmark partnership with the People’s Republic of China for the establishment of the Kogi Hunan Special Economic Zone, a Free Trade Zone poised to transform the state into a hub of industrial and economic activity. The agreement was formalized during a high-level meeting between Kogi State Governor Ahmed Usman Ododo and a delegation of Chinese investors and consular officials led by Ms. Yan Yuqing, Consul General of the People’s Republic of China in Lagos.
The Kogi Hunan Free Trade Zone, situated on 3,000 hectares of land in the Ajaokuta economic development corridor, is expected to attract significant foreign investment, create jobs, and stimulate economic growth in the region. The project is being spearheaded by the government of Hunan Province, China, with the backing of the Chinese federal government.
Governor Ododo’s Commitment to Infrastructure and Regulatory Support
Governor Ododo assured the Chinese delegation of the state government’s full commitment to providing the necessary infrastructure and regulatory frameworks to ensure the project’s success. “We are committed to making the Kogi Hunan Special Economic Zone a model of industrial and economic transformation. Everything required for the seamless execution of this project will be provided in collaboration with our private sector partners to ensure its success,” he stated.
The governor emphasized that the Free Trade Zone would serve as a catalyst for industrial development, leveraging Kogi State’s strategic location and abundant natural resources. He also highlighted the state’s readiness to partner with global investors to drive sustainable development and economic diversification.
Chinese Investors Pledge Support for Bilateral Partnership
Ms. Yan Yuqing, the Chinese Consul General, described the Kogi Hunan Free Trade Zone as a reflection of the strong economic and trade ties between China and Nigeria. She noted that Chinese investors are eager to contribute to the project, aligning with the long-standing bilateral commitments between the two nations. “The Kogi Hunan Free Trade Zone is a strategic initiative that reflects the deep economic and trade ties between China and Nigeria. Our investors are eager to explore and contribute to this partnership to drive sustainable development and industrial growth,” she said.
The Chinese delegation also conducted a tour of key infrastructure sites in Ajaokuta, including the Ajaokuta train station, Geregu Power Station, and ongoing gas projects. These facilities are critical to the smooth operation and development of the Free Trade Zone, providing the necessary energy, transportation, and logistical support for industrial activities.
A Vision for Industrial Transformation
Alhaji Inda Ali Salami, Chief Economic Adviser to the Kogi State Government, described the project as ambitious and transformative. He assured the delegation that the state government would adopt global best practices in free trade zone development to ensure the project’s success. “The Kogi Hunan Free Trade Zone is an ambitious project that demands the full commitment of the state government and its private sector partners. We are leveraging global best practices to ensure its success,” Salami said.
The Free Trade Zone is expected to attract a wide range of industries, including manufacturing, agro-processing, energy, and logistics, creating thousands of jobs and boosting the state’s revenue base. It will also serve as a gateway for Nigerian exports to international markets, particularly in Asia, further strengthening Nigeria’s trade relations with China.
A Milestone for Kogi State and Nigeria
The establishment of the Kogi Hunan Free Trade Zone marks a significant milestone in Kogi State’s economic development journey. It underscores the state’s potential as a key player in Nigeria’s industrial and economic landscape, while also highlighting the growing partnership between Nigeria and China.
As the project moves forward, stakeholders are optimistic about its potential to drive sustainable development, attract foreign investment, and position Kogi State as a model for industrial transformation in Nigeria. The collaboration between Kogi State and the People’s Republic of China sets a precedent for future partnerships aimed at fostering economic growth and prosperity in the region.
