SEBIS Delegation Visits NEPZA to Strengthen Partnership, Discuss FDIs in South-East Nigeria

Abuja, NIGERIA — A high-level delegation from the South East Business and Investment Summit Group (SEBIS), led by its Executive Secretary, Dr. Ifedi Okwenna, was received by Dr. Olufemi Ogunyemi, the Managing Director and CEO of the Nigeria Export Processing Zone Authority (NEPZA), on Friday, January 24, 2025. The visit served to reinforce the partnership between the two organizations and explore ways to expand Foreign Direct Investment (FDI) into South-East Nigeria through Nigeria’s Free Trade Zones (FTZs).

The SEBIS delegation’s visit to NEPZA was primarily focused on expressing gratitude to Dr. Ogunyemi and his team for their active participation and support during the 2024 South East Business and Investment Summit, held in December 2024. The summit provided a platform for key business stakeholders to explore investment opportunities in the South-East region, and NEPZA’s involvement played a pivotal role in showcasing the region’s potential.

During the meeting, Dr. Okwenna praised NEPZA for its efforts in creating a conducive environment for foreign investment, particularly through the establishment of Free Trade Zones across Nigeria. He emphasized the importance of these zones in attracting foreign investors, particularly in the South-East, where infrastructure development, a skilled workforce, and a favorable business environment present significant opportunities.

The two teams discussed various strategies to enhance the utilization of Free Trade Zones in South-East Nigeria, focusing on how these zones could serve as critical hubs for international trade and business. Dr. Okwenna outlined SEBIS’s commitment to fostering business partnerships and facilitating investment inflows to the region. He stressed that the South-East’s strategic location, coupled with its growing industrial base, makes it an attractive destination for FDIs.

Dr. Ogunyemi, in his response, acknowledged the growing interest in the South-East and expressed NEPZA’s readiness to support initiatives that would drive economic growth and create jobs in the region. He emphasized that through collaborative efforts, the Free Trade Zones could be optimized to offer both local and foreign investors opportunities for growth, particularly in industries such as manufacturing, agriculture, and technology.

Both teams also discussed the need to streamline procedures and enhance the regulatory framework governing the Free Trade Zones to make them more efficient and accessible to investors. These improvements, they agreed, would play a key role in positioning the South-East as a leading business hub in Nigeria.

The meeting concluded with both parties expressing optimism about the future of the South-East as an attractive investment destination, with NEPZA and SEBIS pledging to continue working closely together to achieve these goals. The discussions underscored the importance of fostering strategic partnerships to unlock the full economic potential of South-East Nigeria.