The Ministry of Industry, Trade, and Investment has signed an agreement with Itana, Nigeria’s first licensed digital economic zone management company, to boost digital trade and attract global tech investment.
Itana made this disclosure in a statement to Saturday PUNCH on Friday.
Backed by development funding from the Africa Finance Corporation, Itana is developing a $100m digital zone that allows global businesses to register remotely and operate virtually in Nigeria.
The model is designed to give companies instant access to local talent and markets while offering business-friendly incentives and eliminating the costs associated with physical office space.
The agreement, signed under the National Talent Export Programme, commits the federal government to supporting Itana’s ambition of becoming the jurisdiction of choice for global tech companies expanding into Africa.
Speaking during a visit to Itana’s base in Alaro City Free Zone, Lagos, the Minister for Industry, Trade and Investment, Dr Jumoke Oduwole, said the partnership aligns with Nigeria’s reform agenda and digital growth ambitions.
“Two years into President Bola Tinubu’s administration, Nigeria is boldly charting a reform-driven path to inclusive growth. We have marked this journey at Alaro City Free Zone, home to Itana, Nigeria’s first Digital Special Economic Zone,” Oduwole said.
She added that Nigeria is ready to take the lead in Africa’s digital transformation. “The more than $1tn global services market is growing fast, and Nigeria is ready to lead Africa’s charge with our youthful, English-speaking, and digitally savvy population.”
Through NATEP, the government aims to leverage digital free zones to create 100,000 high-value jobs over the next five years as part of a broader strategy to position the country as a global hub for digital services.
The MoU also affirms the government’s support for Itana’s mission to facilitate the seamless entry of international tech firms into Nigeria, thereby driving innovation and digital inclusion across the continent.
“We are proud to have hosted the Honourable Minister and to have demonstrated how Itana is set to play a vital role in attracting global tech companies to set up shop in Nigeria and unlock the potential of the continent’s digital economy,” said Co-founder and CEO of Itana, Luqman Edu.
“Africa is a continent of immense opportunities, with fast-growing economies and an increasingly large, digitally skilled young population,” Edu added.
“This agreement opens the door for international tech firms to seamlessly launch operations in Nigeria, positioning the country as the preferred gateway for global companies expanding into Africa.”
