President Bola Tinubu has directed the full implementation of Nigeria’s Digital Free Zones initiative, giving the Presidential Steering Committee 180 days to develop a roadmap aimed at positioning the country as a hub for African and global technology, finance and service companies.
The directive was announced in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy. Tinubu directed the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who serves as Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones, to develop the roadmap in collaboration with the Itana Innovation project and other members of the committee.
Key Highlights
- Tinubu orders full implementation of Nigeria’s Digital Free Zones initiative.
- Presidential Steering Committee given 180 days to develop an implementation roadmap.
- Initiative targets technology, finance and digital service companies.
- Government wants Nigerian startups to retain headquarters and intellectual property in Nigeria.
- Itana is positioned as Nigeria’s first Digital Free Zone.
- The initiative is expected to support investment, job creation and digitally enabled trade.
Tinubu Wants Digital Companies Built And Scaled From Nigeria
Tinubu said the initiative is intended to address the relocation of Nigerian technology companies and intellectual property abroad by entrepreneurs seeking access to international capital and markets.
“For too long, some of our most promising young entrepreneurs have felt compelled to establish their companies and intellectual property abroad to access global capital and markets. I do not accept that this must remain the case,” Tinubu said.
He said his administration wants the next generation of African technology, finance and service companies to be built, headquartered and scaled globally from Nigeria.
The President also said the initiative should allow companies incorporated in Nigeria to access international markets while creating employment and retaining more economic value within the country.
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Digital Free Zones Framework To Cover Regulation, Tax And Banking
The Presidential Steering Committee was established to modernise Nigeria’s free zone framework, which was originally developed more than three decades ago when manufacturing and export processing were the dominant focus.
Under the new approach, the framework is expected to be adapted to the requirements of the digital economy. The committee will consider reforms covering regulation, taxation, banking, immigration, arbitration and other areas affecting technology and service businesses.
The proposed Digital Free Zones are also expected to provide streamlined government processes and incentives for eligible companies, including immigration facilitation and access to business-friendly regulatory arrangements.
Itana At Centre Of Digital Free Zones Initiative
The initiative is already being advanced through Itana, described as Nigeria’s first Digital Free Zone. Licensed by the Nigeria Export Processing Zones Authority, Itana provides a platform for digital and service businesses seeking to establish and operate from Nigeria.
The $500 million Itana Innovation project at Alaro City in Lagos is backed by the Africa Finance Corporation. The project combines an innovation campus, access to capital and ecosystem services with an enabling policy environment designed to support the growth of African startups. Itana says it now hosts about 50 companies since operations began in September 2023, positioning itself as a reference point for the initiative.
Government Targets Jobs, Investment And Reduced Brain Drain
The Federal Government says the Digital Free Zones initiative could help address the movement of Nigerian technology talent, companies and intellectual property abroad.
The policy is also expected to support the creation of high-value jobs and strengthen demand for Nigerian professional services, including engineering, software development, design, law and accounting.
The initiative is expected to complement opportunities under the African Continental Free Trade Area, particularly by supporting digitally enabled trade across African markets.
180-Day Roadmap For Full Implementation
The 180-day roadmap is expected to translate the government’s policy objectives into specific implementation measures.
The Presidential Steering Committee will work with the private sector and relevant stakeholders to develop the framework and identify the regulatory and institutional changes required to make Digital Free Zones operational at scale.
The initiative builds on the inauguration of the Presidential Steering Committee in 2024 and the operational development of Itana since around 2023. The success of the programme will depend on the implementation of regulatory reforms, infrastructure development and sustained cooperation between government and private-sector partners.
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