Tinubu Orders 180-Day Roadmap for Nigeria’s Digital Free Zones
President Bola Tinubu has directed the immediate development of a digital free zones roadmap aimed at supporting technology and service companies operating from Nigeria while giving them better access to capital, talent and products.
The directive places a 180-day deadline on the development of a comprehensive proposal that will outline how the digital free zones model can support technology companies and help them scale.
President Bola Tinubu has directed the immediate development of a digital free zones roadmap to support technology and service companies in accessing capital, talent and products to scale up their activities.
The deadline for submitting a comprehensive proposal is set 180 days from the date of the directive. The President has charged the Minister of Industry, Trade and Investment with developing a model that will enable tech companies to operate from Nigeria while still accessing global capital.
What the Digital Free Zones Plan Is Expected to Do
The proposed model is intended to make it easier for technology and service businesses to operate from Nigeria while connecting to international markets and sources of capital.
Access to talent is also a major part of the plan. Technology companies depend heavily on skilled workers, and creating an environment that allows these businesses to operate and expand could support the wider development of Nigeria’s digital economy.
The proposal will therefore need to address the practical conditions required by technology companies, including access to financing, talent and products.
Itana Innovation and Alaro City
Itana Innovation, a technology business accelerator backed by Africa Finance Corporation, will soon commence construction.
The company has received a 500 million-dollar investment from Africa Finance Corporation, and the Nigeria Export Processing Zones Authority has licensed the Itana Innovation platform at Alaro City.
The development is part of the wider push to create an environment where technology businesses can operate, expand and connect to international opportunities while remaining based in Nigeria.
Digital free zones could provide technology and service companies with a more structured environment for building businesses that serve both Nigerian and global customers.
The 180-Day Deadline
The 180-day deadline means the government now has a defined period within which the comprehensive proposal is expected to be developed.
For technology businesses, the details of the final model will be important because the effectiveness of a digital free zone will depend on how its proposed incentives and operating framework work in practice.
The broader objective is to create an environment where Nigerian-based technology companies can access the capital, talent and products they need to scale while contributing to the country’s digital economy.
The roadmap will therefore be an important next step in determining how Nigeria intends to structure its digital free zones and attract more technology-driven businesses.
