Nigeria Calls on EU to Invest in Special Economic Zones to Boost Trade and Industrialisation

By Zainab Uzomah|Abuja

Nigeria has urged the European Union (EU) to increase investment in its Special Economic Zones (SEZs) as part of efforts to deepen trade, drive industrial growth, and foster regional economic prosperity.

Dr Olufemi Ogunyemi, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), made the appeal on Monday during a trade and investment facilitation meeting at the European House in Abuja. According to a statement signed by Martins Odeh, Head of Corporate Communications at NEPZA, Ogunyemi highlighted the critical role Nigeria’s SEZs can play in integrating the country into European value chains and enhancing bilateral economic cooperation.

“It is a privilege to address this distinguishedgathering 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.”

The NEPZA chief noted that as the global economic order evolves, the EU should increasingly leverage Nigeria’s SEZs to expand and strengthen its partnerships with African economies. He said that greater EU activity along SEZ corridors would reduce overdependence on limited suppliers, safeguard critical supply chains, and stimulate investment in West Africa’s dynamic markets.

Ogunyemi also stressed that the EU’s recent push for economic realignment presents an opportunity for member states to build mutually beneficial partnerships with Africa. He suggested that increased engagement in Nigeria’s economiczones could accelerate industrialisation, value addition, and shared economic gains between the two regions.

“Even as we recognise the European Union as Africa’s leading partner in trade and investment — with trade in goods between the two continents reaching nearly €355 billion in 2024, and trade in services exceeding €100 billion — the persistence of Africa’s reliance on raw material exports remains a strategic challenge,” Ogunyemi said. “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 us and the EU. Strategic investment in our Special Economic Zones can help address these imbalances.”

The meeting was attended by European ambassadors, heads of delegation from EU member states, and representatives of theEuropean Commission and the European External Action Service. The discussions focused on ways to expand EU–Nigeria economic engagement, promote industrialisation, and ensure that SEZs serve as hubs for trade, investment, and regional development.

Ogunyemi concluded that collaboration between the EU and Nigeria’s SEZs is essential for fostering economic growth, creating jobs, and positioning West Africa as a competitive and reliable partner in global supply chains.