NEPZA, FCTA partner to develop world-class free trade zone

The Nigeria Export Processing Zones Authority (NEPZA) has brokered peace between the Federal Capital Territory Administration (FCTA) and operators of the Abuja Technology Village (ATV) Free Trade Zone, paving the way for the development of a world-class business hub.

NEPZA Managing Director, Dr. Olufemi Ogunyemi, in a statement on Friday, urged ATV operators and investors to withdraw their lawsuit against the FCTA to enable roundtable negotiations.

He said sustaining the growth of Nigeria’s free trade zones would boost the economy and drive industrialisation in the FCT.

Ogunyemi praised FCT Minister, Nyesom Wike, for expanding Abuja’s economic potential through initiatives such as the proposed Abuja City Walk (ACW) project.

He also revealed plans to assess all 63 licensed free trade zones nationwide to evaluate their contributions to foreign direct investment and export promotion.

Wike reaffirmed his commitment to President Bola Tinubu’s Renewed Hope Agenda, promising collaboration with NEPZA to reposition the ATV and fast-track industrialisation in the territory.

According to him, the Abuja City Walk will cover over 200 hectares within the ATV corridor along Airport Road, featuring a vibrant mix of residential, commercial, retail, hospitality, medical, and institutional facilities.

He described the project as a “world-class development” that will embody the administration’s vision for the North-Central region.

The minister also vowed to hold defaulting land and property owners accountable in his push to accelerate the capital’s development.