NEPZA to Revamp Borno's Banki Free Trade Zone

The Nigeria Export Processing Zones Authority (NEPZA) is collaborating with the Borno State government to revitalize the Banki Free Trade Zone, which has become moribund primarily due to natural disasters, funding constraints, and security challenges. During a courtesy visit to Borno State Governor Prof. Babagana Zulum in Abuja, NEPZA's Managing Director, Dr. Olufemi Ogunyemi, highlighted the urgent need to overhaul the zone to serve as an economic gateway for Nigeria and the Maghreb region.

The Banki Free Trade Zone has remained inactive, and Dr. Ogunyemi expressed the importance of leveraging expertise to attract foreign direct investment and provide technical assistance to transform the business ecosystem. Governor Zulum expressed gratitude for NEPZA's commitment to support the state's mission to revamp and expand the zone, which is essential for developing physical infrastructure and boosting economic growth and industrialization in the region.