Free Trade Zones

Nigeria: NEPZA and FAAN are working on the designation of 4 airports as economic zones


The Nigeria Export Processing Zones Authority (NEPZA) and the Federal Airports Authority of Nigeria (FAAN) have formed a joint committee to develop the model and formalities for designating four international airports as Special Economic Zones (SEZs).

NEPZA Director General Professor Adesugba unveiled the creation of the committee when he received FAAN Director General Captain Rabiu Yadudu at his office in Abuja on Wednesday.

Professor Adesugba said that President Muhammad Buhari has approved the designation of Abuja Nnamdi Azikiwe International Airport; Murtala Muhammed International Airport, Lagos; Port Harcourt International Airport and Mallam Aminu Kano International Airport, Kano as SEZs.

The NEPZA boss said the designation would create around 3,000 new jobs and several indirect jobs.

He said the new SEZs will have duty-free shops, hotels, logistics centers that will serve other countries and other special features that will compete favorably with other airports designated as SEZs around the world.

Professor Adesugba said NEPZA has also set up a training institute in Kano as part of the measures to strengthen the management capacity of free zones.

He said the Institute would provide the necessary services to other African countries on how to ensure the economic development of the continent.

FAAN boss Capt Yadudu said he has applied for accreditation of Nigeria’s 22 current airports under FAAN as SEZs.

He said that by the end of 2021, the country could have up to 30 airports, which FAAN wants to be accredited as SEZs.