Kogi State Governor Ahmed Usman Ododo has officially introduced the Ajaokuta Economic City project — a newly designated Free Trade Zone (FTZ) expected to pull in $500 million in foreign direct investment each year and open up to 50,000 job opportunities.
The governor made the announcement during a stakeholders’ session at the Transcorp Hilton, Abuja, describing the development as a significant step in advancing Kogi’s industrial drive.
Ododo praised President Bola Ahmed Tinubu for his swift approval and backing of the initiative. He further pledged a robust security structure for investors and highlighted the contributions of the state’s higher institutions in supplying the skilled workforce needed for the FTZ.
“Today, we plant the seed of generational prosperity. Kogi State is the beating heart of Nigeria. We don’t talk. We do,” he said.
Aliyu Inda Salami, the Chief Economic Adviser and head of the Kogi State Investment Promotion and Public Private Partnership Agency (KOSIPPPPA), said the Ajaokuta Economic City aligns with the governor’s vision to ensure that “Kogi’s resources work for the people.”
He explained that the 4,000-hectare zone already enjoys key infrastructure advantages — including power, rail, inland waterways, and multi-modal transport links — and confirmed that full presidential approval has been secured, with groundwork for the first phase completed.
On his part, Mr. Li Zhensheng, who led the Chinese delegation, described the project as a landmark outcome of the Kogi–Hunan Sister City relationship, noting China’s readiness to channel industrial expertise into manufacturing, logistics, and technology transfer within the zone.
In the same vein, Mr. Hassan of Turkey’s Otreopoli Group declared interest in investing across oil, gas, and logistics, adding that his firm would adopt financing arrangements that place “zero burden on government.”
Technical Adviser to the Governor, Dr. Sanni Abdullahi Ozomata, detailed the economic benefits of the emerging hub, calling it a comprehensive industrial ecosystem.
He pointed out incentives such as full capital repatriation, tax breaks, specialized investment platforms, and educational exchange initiatives with Hunan Province. He also reaffirmed projections that the FTZ could draw $500 million annually in foreign investment and create 50,000 direct and indirect jobs.
Representatives of the Nigeria Investment Promotion Council, Nigeria Export Processing Zones Authority, the Central Bank of Nigeria, the North Central Development Commission, the Ministry of Finance, and other institutions applauded the initiative, describing it as a strong validation of the Federal Government’s Renewed Hope Agenda.
A major moment at the event was the signing of the administrative framework for the Free Trade Zone. The document was endorsed by Hon. Aliyu Salami on behalf of the Kogi State Government, Mr. Li Zhensheng for Zhuzhou Municipality, and Alhaji Isyaku Rabiu of IRS Group as a development partner.
The gathering drew investors from Nigeria, China, Turkey, and several other countries, all exploring the opportunities presented by the emerging Kogi–Hunan Free Trade Zone.
