The Kogi State government has secured an agreement with the People’s Republic of China for the takeoff of the Kogi Hunan Special Economic Zone, with the status of a Free Trade Zone.
Governor Ahmed Usman Ododo disclosed this when he host to a delegation of Chinese investors and consular officials led by the Consul General of the People’s Republic of China in Lagos, Ms. Yan Yuqing, at the Government House in Lokoja on Tuesday.
Governor Ododo assured the Chinese delegation that the Kogi State government and its private sector partners would ensure that all necessary infrastructure and regulatory frameworks are in place to guarantee the smooth takeoff and timely completion of the project.
“We are committed to making the Kogi Hunan Special Economic Zone a model of industrial and economic transformation. Everything required for the seamless execution of this project will be provided in collaboration with our private sector partners to ensure its success,” he said.
In her remark, the Consul General of the People’s Republic of China in Lagos, Ms. Yan Yuqing, announced that the Kogi Hunan Free Trade Zone is being spearheaded by the government of Hunan Province with the backing of the Chinese government.
She emphasized that Chinese investors in Nigeria have a responsibility to support and key into the project in line with the long-standing bilateral commitments between the Federal Government of Nigeria and the People’s Republic of China.
“The Kogi Hunan Free Trade Zone is a strategic initiative that reflects the deep economic and trade ties between China and Nigeria. Our investors are eager to explore and contribute to this partnership to drive sustainable development and industrial growth,” she said.
Earlier in his address, the Chief Economic Adviser to the Kogi State Government, Alhaji Inda Ali Salami, described the Kogi Hunan Free Trade Zone as an ambitious project that demands the full commitment of the state government and its private sector partners.
He assured the delegation that the state government team would leverage global best practices in free trade zone development to ensure the project’s success.
The Kogi State Governor and members of the state’s economic team had earlier visited the Chinese Consular in Lagos to woo the Chinese government to support the project as a core investor in the Free Trade Zone, setting the stage for the landmark partnership between the Kogi State and the People’s Republic of China.
This strategic engagement has culminated in the formal agreement for the take off of Kogi Hunan Special Economic Zone, which will operate as a Free Trade Zone.