Tinubu Launches Digital Free Zones to Attract Global Capital

President Bola Ahmed Tinubu has moved Nigeria's Digital Free Zones initiative into its implementation phase to prevent the relocation of domestic technology companies and their intellectual property. The program allows local startups to raise international capital and serve global markets while remaining headquartered in Nigeria, with the goal of creating employment for young citizens.

Tinubu directed the Minister of Trade and Investment, Jumoke Oduwole, to collaborate with the Presidential Steering Committee on Digital Free Zones and the Itana Innovation project to create a roadmap for a full launch within 180 days. The initiative modernizes a three-decade-old free zone framework to align with the digital economy and the African Continental Free Trade Area.

A central component of the strategy is the Itana Innovation project at Alaro City in Lagos, which serves as the country's first licensed Digital Free Zone. The project is licensed by the Nigeria Export Processing Zones Authority and is supported by $500 million in backing from the Africa Finance Corporation.