President Bola Ahmed Tinubu says Nigeria’s Digital Free Zones initiative will provide opportunities for Nigerians, particularly young people, to work for global companies from within the country while strengthening the domestic ecosystem supporting digital businesses.
The President said the initiative would also make it easier for Nigerian technology and service companies to attract global capital, employ Nigerians and serve international markets without relocating their businesses and intellectual property abroad.
Tinubu disclosed this in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, on Thursday.
He said the government wants more of the economic value created by Nigerian talent to remain in the country through jobs, investment, professional services, intellectual property and the growth of Nigerian-owned businesses.
“Nigeria has the talent, enterprise and ambition to build companies that can compete anywhere in the world. Our responsibility as a government is to ensure that Nigerians do not have to leave Nigeria or rely on other jurisdictions to realise that potential,” Tinubu said.
Tinubu Gives 180-Day Implementation Deadline
The President directed the Minister of Trade and Investment, Jumoke Oduwole, in her capacity as Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones, to work with the Itana Innovation project and the committee to develop a roadmap for the full launch of the initiative within 180 days.
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Tinubu established and chairs the Presidential Steering Committee as part of efforts to modernise Nigeria’s free zone framework, which was created more than three decades ago, for the requirements of the digital economy.
He said some young entrepreneurs had been forced to establish their companies and intellectual property abroad in order to access international capital and markets.
“For too long, some of our most promising young entrepreneurs have felt compelled to establish their companies and intellectual property abroad to access global capital and markets. I do not accept that this must remain the case,” he said.
“I want the next generation of African technology, finance and service companies to be built, headquartered and scaled to the world from Nigerian soil.”
Itana Leads Digital Free Zone Drive
The initiative is already taking shape with Itana, described by the Presidency as Nigeria’s first Digital Free Zone, which has been licensed by the Nigeria Export Processing Zones Authority and provides a platform for global and pan-African digital and service businesses to establish and operate from Nigeria.
The $500 million Itana Innovation project at Alaro City, Lagos, is backed by the Africa Finance Corporation.
The project is expected to combine an enabling policy environment with an innovation campus, access to capital and ecosystem services aimed at helping African startups scale while retaining more of the value they create on the continent.
Global Companies To Operate From Nigeria
Tinubu said the administration’s ambition goes beyond the development of technology parks, stressing that companies should be able to operate from Nigeria while serving markets across Africa and the wider world.
“We want African companies to be incorporated in Nigeria, financed here and governed from here, while serving markets across Africa and the world,” he said.
The President said young Nigerians in cities including Kano, Enugu, Warri, Minna, Maiduguri and Ibadan should be able to work for global companies without leaving the country.
He also said Nigerian founders should be able to raise capital internationally while keeping their companies and intellectual property in Nigeria.
“When these businesses grow here, they employ Nigerians, use Nigerian professional services and retain more of the value they create in our economy,” Tinubu said.
Policy Areas For Digital Free Zones
The Presidential Steering Committee will continue its work on regulation, taxation, banking, immigration, arbitration and the digitisation of government processes within Nigeria’s free zones.
Tinubu said the initiative would also position Nigeria to benefit from the expansion of Africa’s digital economy and the growth of digitally enabled trade under the African Continental Free Trade Area.
“Nigeria has the talent and the market to reshape Africa’s place in the global technology and digital economy value chain,” the President said.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.