NEPZA Urges EU to Deepen Trade Ties Through Nigeria’s Special Economic Zones

The Nigeria Export Processing Zones Authority (NEPZA) has called on the European Union to formally integrate Nigeria’s Special Economic Zones into European value chains to strengthen bilateral trade, boost industrialization, and support economic growth.

The appeal was made by NEPZA’s Managing Director, Dr. Olufemi Ogunyemi, during a trade and investment facilitation meeting held at the European House in Abuja on Monday.

Addressing European ambassadors, delegation heads, and officials from the European Commission, Ogunyemi positioned Nigeria’s Free Trade Zones as strategic platforms for expanding EU–Africa cooperation amid global economic realignment.

“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 stated.

Ogunyemi emphasized that the current global economic shift—marked by supply chain disruptions and geopolitical pressures—presents an opportunity for the EU to diversify its partnerships through Nigeria’s economic zones.

He noted that the EU’s recent focus on strategic autonomy, resilient supply chains, and diversified partnerships aligns with Nigeria’s free zone framework. Increased European investment in these zones, he argued, would reduce supply chain concentration risks while channeling funds into West Africa’s growing markets.

While acknowledging that the EU remains Africa’s largest trading partner, with goods trade valued at nearly €355 billion in 2024, Ogunyemi highlighted an ongoing imbalance. He pointed out that Africa’s exports are still dominated by raw materials, which limits industrial development and sustainable growth.

“Targeted investment in Nigeria’s Special Economic Zones could help address these imbalances by promoting manufacturing, processing, and export-oriented industries that support job creation and technology transfer,” he explained.

The meeting was attended by several European ambassadors, heads of EU member state delegations, and representatives from the European Commission and the European External Action Service.