By Joy Odor Reportcircle News
After years of decay, devastation and dashed hopes, the long-abandoned Banki Free Trade Zone may finally be on the brink of a dramatic comeback.
The Nigeria Export Processing Zones Authority (NEPZA) has declared an all-out commitment to revive the troubled Banki Border Free Trade Zone in Borno State, in what could become one of the most strategic economic turnarounds in Nigeria’s North-East.
Speaking during a high-level courtesy visit by Borno State Governor, Babagana Zulum, NEPZA’s Managing Director and Chief Executive Officer, Olufemi Ogunyemi, did not mince words: the zone must be overhauled and repositioned as Nigeria’s commercial bridge to North Africa.
Once envisioned as a thriving gateway linking Nigeria to the Maghreb region, the Banki Free Trade Zone fell silent following years of crippling floods, funding shortages and security challenges.
What was designed to pulse with cross-border trade instead became a symbol of unrealised promise.
Now, authorities say that narrative is set to change.
“We have agreed to leverage our expertise in attracting Foreign Direct Investment and providing technical assistance to transform this business ecosystem that has significant potential to economically empower the North Eastern region of our country,” Ogunyemi declared.
Industry observers say the revival, if successfully executed, could unlock massive export potential, stimulate industrial growth and create thousands of jobs in a region desperate for economic stability.
Governor Zulum signaled that Borno State is ready to match federal commitment with hard cash and concrete action.
“The state is prepared to make substantial investments in the zone and develop the essential physical infrastructure as we work to bring prosperity closer to our people,” he said.
The Governor also acknowledged the backing of Bola Tinubu, describing the free trade zone initiative as a critical engine for economic diversification and industrial expansion.
He view the move as part of a broader push to reposition Nigeria’s export architecture away from oil dependency toward a more sustainable, export-driven model.
Meanwhile, the Chairman of NEPZA’s Board, Tijjani Yahaya Kaura, used the Board’s maiden meeting in Abuja to underscore a renewed sense of urgency within the Authority.
Kaura, a former Minister of State for Foreign Affairs, pledged that the newly constituted Board would ensure NEPZA stays true to its mandate of accelerating non-oil exports through the free trade zone scheme.
“All the board members are pleased with their appointments, and we must thank the President for his leadership in helping us pursue the country’s export-driven ambitions,” he said.
For Borno, the stakes could not be higher. For NEPZA, the mission is clear: turn a moribund border project into a thriving international trade hub.
The success or failure of the Banki Free Trade Zone revival may well become a defining test of Nigeria’s renewed export revolution.
