NEPZA and FCT Unite to Build World-Class FTZ

NEPZA Steps In to Resolve Dispute Over Abuja Technology Village

Lagos — The Nigeria Export Processing Zones Authority (NEPZA) has taken a proactive approach in addressing the ongoing conflict between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, regarding the potential revocation of the zone’s land title. This move comes as both parties seek a resolution that ensures continued economic growth and development in the region.

Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, called on ATV operators and investors to withdraw their lawsuit against the FCT administration. He emphasized the importance of initiating roundtable negotiations to resolve the issue amicably. This appeal was made during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, in Abuja.

The dispute originated from a revocation notice issued by the FCT administration, which led ATV operators to file a legal challenge. Dr. Ogunyemi highlighted the significance of supporting the Free Trade Zones Scheme, noting its potential to boost the nation’s economy and drive industrialization. He stressed that the FCT administration recognizes the value of these zones in fostering economic growth and attracting foreign investment.

The CEO of NEPZA expressed satisfaction with the steps taken by the FCT minister to expand the economic frontiers of the territory through the proposed Abuja City Walk (ACW) project. He also mentioned that NEPZA is preparing to assess all 63 licensed Free Trade Zones across the country. The objective is to evaluate their functionality and contributions to the nation's Foreign Direct Investment and export initiatives.

During the meeting, Dr. Ogunyemi reiterated the importance of collaboration between NEPZA and the FCT administration to ensure the success of the ATV while promoting the development of the ACW project. He emphasized that this partnership would be crucial for the overall progress of the nation.

Barrister Nyesom Wike, the FCT Minister, reaffirmed his commitment to working towards President Bola Ahmed Tinubu’s Renewed Hope Agenda. He highlighted the need to fulfill promises related to industrialization, trade, and investment. According to him, the FCT will collaborate with NEPZA to review the future of the ATV, a zone that was initially sponsored and supported by the administration.

Wike also mentioned that efforts are underway to accelerate the industrialization process in the territory. The construction of the Abuja City Walk is a key component of this initiative. The project is planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road. The business ecosystem aims to create a vibrant, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.

The minister added that the ACW would be a high-definition and world-class project that would give true meaning to the Renewed Hope Agenda in the North-Central Region of the country. He also indicated his continued pursuit of land and property owners who have failed to meet their obligations to the FCT in his determination to develop the territory.

This collaborative effort between NEPZA and the FCT administration underscores the importance of maintaining a supportive environment for free trade zones and other economic initiatives. By addressing disputes promptly and focusing on development projects like the Abuja City Walk, the region can continue to attract investment and foster sustainable growth.