The Nigeria Export Processing Zones Authority (NEPZA) is taking significant steps to revitalize the Banki Free Trade Zone in collaboration with the Borno State Government. This initiative aims to breathe new life into the long-abandoned zone, which is crucial for promoting economic growth and enhancing regional trade within North-East Nigeria. During a recent meeting in Abuja, NEPZA's Managing Director, Olufemi Ogunyemi, emphasized the importance of this trade zone as an economic gateway linking Nigeria with the Maghreb and broader North African region.

Ogunyemi highlighted the agency's commitment to providing technical and investment support necessary for making the Banki Free Trade Zone globally competitive. This development comes against the backdrop of efforts by the Borno State Governor, Babagana Zulum, to stimulate economic activity in a region that has faced numerous challenges over the years. By modernizing the trade zone, the initiative seeks to attract foreign direct investment, which is essential for improving the local economy and addressing unemployment issues in the area.

The revival of the Banki Free Trade Zone is expected to have significant implications for regional trade in North-East Nigeria, enhancing connections to neighboring countries and potentially transforming the economic landscape. It marks a proactive governmental approach to harnessing local resources for broader economic development, aiming to position the region as a more strategic player in international trade. With the commitment from NEPZA and the Borno State Government, there is a sense of renewed hope for economic revitalization in the area, creating pathways for sustainable growth and development in the long term.