Odita Sunday 
Tinubu Moves Digital Free Zones Initiative to Implementation, Targets Global Jobs, Investment
By Odita Sunday
President Bola Ahmed Tinubu has directed the development of a roadmap for the full implementation of Nigeria’s Digital Free Zones initiative within 180 days, as the Federal Government seeks to attract global investment, create jobs and retain technology companies and intellectual property in the country.
The President said the initiative would enable Nigerian technology and service companies to access international capital, serve global markets and expand their operations 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.
According to the statement, the initiative is also designed to create opportunities for young Nigerians to work for global companies from within the country while strengthening the domestic ecosystem of engineers, developers, designers, lawyers, accountants and other professionals supporting digital 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,” the President said.
Tinubu directed the Minister of Trade and Investment, Dr 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 the roadmap for the initiative’s full launch within 180 days.
The President 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, to meet the requirements of the digital economy.
“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,” Tinubu stated.
He added, “I want the next generation of African technology, finance and service companies to be built, headquartered and scaled to the world from Nigerian soil.”
The initiative has already recorded progress through Itana, described in the statement as Nigeria’s first Digital Free Zone, which has been licensed by the Nigeria Export Processing Zones Authority (NEPZA) to provide a platform for global and pan-African digital and service businesses to establish and operate from Nigeria.
The Africa Finance Corporation is backing the $500 million Itana Innovation project at Alaro City, Lagos.
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 their operations and retain more of the value they create on the continent.
Tinubu said the administration’s vision extended beyond the establishment of technology parks to creating an environment where African companies could be incorporated, financed and governed from Nigeria while serving customers across Africa and other global markets.
“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 further stated that Nigerians should be able to access global employment opportunities remotely, regardless of their location within the country.
“I want a young Nigerian in Kano, Enugu, Warri, Minna, Maiduguri or Ibadan to be able to work for a global company without leaving home, and I want our founders to raise capital globally while their companies and intellectual property remain in Nigeria,” he said.
He explained that the growth of digital businesses in Nigeria would support employment, increase demand for professional services and help retain more economic value within the country.
The Presidential Steering Committee is expected to continue its work on regulatory frameworks, 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 stated.
He added, “This is what our Renewed Hope commitment to a digital economy looks like in practice, and this is how we transform reform into opportunities.”
“We made a promise to Nigerians. We are keeping it,” Tinubu said.
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