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The Federal Government has said Nigeria’s free trade zones have attracted more than $200 billion in foreign investment and over N900 billion in domestic investment, while generating more than 100,000 direct jobs and over 500,000 additional jobs across supply chains, logistics networks and host communities.

The government disclosed this while highlighting the contribution of free trade zones to Nigeria’s economic development, industrialisation and efforts to attract both local and international investors.

According to the Federal Government, the investment figures demonstrate the growing role of free trade zones in providing platforms for businesses to establish operations, expand production and participate in international trade.

The zones are designed to provide investors with an environment that supports manufacturing, processing, logistics, export-oriented businesses and other commercial activities.

The government said the more than $200 billion in foreign investment attracted to the zones represents significant capital inflows into the Nigerian economy, while domestic investments exceeding N900 billion demonstrate the participation of Nigerian businesses in the development of the sector.

Beyond investment, the Federal Government highlighted employment generation as another major contribution of the free trade zones.

More than 100,000 direct jobs have reportedly been created within the zones, while another 500,000 jobs have been generated indirectly through supply chains, logistics operations and economic activities in host communities.

The employment impact extends beyond companies operating directly within the zones, as businesses require suppliers, transport operators, service providers, distributors and other supporting enterprises to sustain their operations.

The government said the development of the zones is also helping to strengthen Nigeria’s industrial base by encouraging businesses to produce goods locally rather than relying heavily on imported products.

Free trade zones can also support export activities by providing infrastructure and investment incentives designed to make businesses more competitive in regional and international markets.

The Federal Government has continued to promote industrial parks, special economic zones and other investment platforms as part of efforts to diversify the Nigerian economy beyond crude oil.

The development of manufacturing and export-oriented industries is also expected to help Nigeria generate foreign exchange, increase government revenue and create opportunities for local businesses to participate in global supply chains.

The government said the continued growth of free trade zones would depend on effective infrastructure, reliable electricity, efficient transportation networks, transparent regulations and an investment environment capable of attracting long-term capital.

With more than $200 billion in reported foreign investment, over N900 billion in domestic investment and hundreds of thousands of jobs linked directly or indirectly to the zones, the Federal Government says free trade zones remain an important part of Nigeria’s strategy for industrialisation, job creation and economic diversification.