NEPZA to Revitalise Banki Free Trade Zone for North-East Economic Growth

The Nigeria Export Processing Zones Authority (NEPZA) has reaffirmed its commitment to revitalising the long-abandoned Banki Free Trade Zone, aiming to position it as a major economic gateway for the North-East region.

The initiative forms part of broader efforts to stimulate economic development in the region through strategic investment in free trade infrastructure. Free trade zones are designed to attract foreign direct investment, boost exports, and create employment opportunities by offering incentives such as tax holidays and duty-free importation of raw materials and equipment.

The repositioning of the Banki Free Trade Zone is expected to enhance trade activities in the North-East, providing businesses with a platform to operate in a competitive environment while contributing to regional economic growth.

NEPZA's renewed focus on the facility signals the government's determination to utilise special economic zones as tools for regional development and economic diversification, particularly in areas that have faced significant economic challenges.