Kogi unveils Ajaokuta Economic City, targets $5 billion FDI in 7 years

The Kogi State government, led by Governor Ahmed Usman Ododo, has formally unveiled the Ajaokuta Economic City, also known as the Kogi-Hunan Free Trade Zone (FTZ), a project projected to attract between $2 billion and $5 billion in Foreign Direct Investment (FDI) inflows to Nigeria over the next seven years.
‎
The ceremony, held in Abuja on Tuesday, marks the operational takeoff of the federal approved free trade zone, which stakeholders see as the most ambitious industrialization drive of the state.
‎
Governor Ododo stated the strategic advantages of the zone, stressing that its location and resources make it ideal for a major industrial hub. The zone is situated close to critical assets, including the Ajaokuta Steel Complex, the Geregu Power Station, and has plans for a rail connection to national lines and the establishment of a 100-megawatt power facility within the FTZ.
‎
‎The governor announced a dedicated security architecture for the Ajaokuta Economic City, involving strengthened intelligence operations, surveillance, and collaboration with national security agencies to protect life, infrastructure, and capital.
‎
‎Governor Ododo used the platform to address investor concerns and dismiss local critics of his administration.
‎
‎The Commissioner for Finance, Asiwaju Asiru Idris, urged investors to take advantage of the opportunity. He made reference to the institutional and legislative framework provided by the state to guarantee successful investment.
‎
‎