ABUJA, Nigeria — Nigeria’s Special Economic and Free Zones are emerging as a major investment channel, with the Federal Government reporting that the scheme has attracted more than $200 billion in foreign investment and over ₦900 billion in domestic investment.

Minister of Industry, Trade and Investment Jumoke Oduwole disclosed the figures as the government works to modernise the regulatory framework governing the zones. The scheme has generated more than 100,000 direct jobs, while total employment linked to supply chains, logistics networks and host communities is estimated at more than 500,000.

The proposed reforms are designed to strengthen the export focus of the zones, improve fiscal accountability and provide clearer responsibilities for agencies including NEPZA, OGFZA, the Nigeria Revenue Service and Nigeria Customs Service.

A major change is the proposed recognition of Digital Free Zones and Digital Special Economic Zones, allowing technology-driven businesses that do not require traditional physical locations to participate in the scheme.

The government says the reforms are intended to attract additional investment, expand non-oil exports and provide a more predictable operating environment for legitimate investors.