Nigeria’s Export Processing Zones Authority (NEPZA) has urged the European Union (EU) to integrate Nigeria’s Special Economic Zones (SEZs) into its value chain to boost industrialization and economic cooperation.
The Managing Director of NEPZA, Dr. Olufemi Ogunyemi disclosed this during a trade and investment facilitation meeting at the European House in Abuja, Nigeria.
According to him, “It is a privilege to address this distinguished gathering at this critical moment in global economic history. 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.”
Dr. Ogunyemi stressed that evolving global economic realities require stronger and diversified partnerships between Nigeria and the EU.
“As the global order shifts from a predictable, rules-based system to one shaped by shifting alliances and economic pressures, the European Union should increasingly leverage Nigeria’s Special Economic Zones to expand and deepen our existing economic partnership.”
He explained that Nigeria’s Special Economic Zones provide opportunities to strengthen supply chains and support economic growth across West Africa.
According to him, “Increased EU economic activity along Nigeria’s Special Economic Zones corridors would reduce concentration of dependency, safeguard critical supply chains, and boost economic engagement in regions of West Africa with dynamic growth.”
The NEPZA Managing Director noted that the EU’s push for economic independence and diversification presents opportunities for stronger collaboration with African economies.
“We recognise how EU leaders have articulated a vision of European independence and economic strength rooted in diversified, resilient, and strategically aligned partnerships rather than reliance on a narrow set of global suppliers or geopolitical arrangements.”
Dr. Ogunyemi acknowledged the EU’s leading role in Africa’s trade and investment landscape while highlighting structural imbalances in the relationship.
He explained, “Even as we acknowledge that the European Union is Africa’s leading partner in trade and investment, with trade in goods between the two continents amounting to nearly €355 billion in 2024, and trade in services exceeding €100 billion, the persistence of a trade structure dominated by Africa’s raw material exports presented a shared strategic challenge.”
He warned that heavy reliance on primary commodity exports continues to limit Africa’s industrial growth and long-term sustainability.
“Over reliance on primary commodities without meaningful value addition hinders industrial growth, limits human capital development, and threatens the long-term sustainability of supply chains between us and the EU” he said
Dr. Ogunyemi emphasised that increased investment in Nigeria’s Special Economic Zones could help correct these imbalances and promote shared economic prosperity.