By Odita Sunday
The Nigeria Export Processing Zones Authority (NEPZA) has thrown its weight behind the ambitious $1.5 billion City Walk Abuja project, describing it as a transformative development capable of reshaping the Federal Capital Territory (FCT) into a globally competitive destination for investment, tourism and modern urban living.
The Authority said the project, being developed within the Abuja Technology Village Free Trade Zone, aligns with its renewed drive to leverage Nigeria’s free trade zone scheme to accelerate industrialisation, attract foreign direct investment and stimulate sustainable economic growth.
Speaking during an inspection of the project site, the Managing Director and Chief Executive Officer of NEPZA, Dr. Olufemi Ogunyemi, described the development as a strategic investment that would serve as a major gateway for foreign capital while expanding the economic frontiers of the nation’s capital.
According to him, the project reflects the evolving role of Nigeria’s free trade zones beyond manufacturing and export promotion to include innovation, technology, urban development and knowledge-driven industries.
He commended the support of the Minister of the Federal Capital Territory, Nyesom Wike, for efforts aimed at revitalising the Abuja Technology Village and expanding investment opportunities within the FCT.
The City Walk Abuja project, promoted by MAG Free Zone Management Company, is planned as a mixed-use development spanning about 250 hectares along the Airport Road corridor in Lugbe, Abuja. Designed as a modern, pedestrian-friendly city, the development is expected to combine residential, commercial, hospitality, educational and recreational facilities within a single integrated environment.
The first phase of the development is expected to feature luxury apartments, Grade A office spaces, retail outlets, hotels, cultural facilities and an entertainment arena, alongside what developers say will become Africa’s tallest tower at 450 metres.
When fully completed, the project is expected to transform the largely underutilised Abuja Technology Village into a vibrant commercial and innovation hub capable of attracting multinational companies, researchers, investors and tourists.
While reaffirming NEPZA’s commitment to supporting the project, Ogunyemi urged the promoters to ensure that implementation is guided by sound policies and robust agreements to guarantee long-term sustainability.
He also stressed the importance of maintaining proper records of corporate social responsibility initiatives, noting that many free trade zones have struggled to document their contributions to host communities.
“The Authority has often encountered challenges because some zones fail to maintain adequate records of their corporate social responsibility activities. This project has the opportunity to set a new standard by keeping accurate records from the beginning and ensuring host communities benefit from the development,” he said.
Also speaking, Dr. Kashim Gidado, Chief of Staff to the Chairman of MAG Free Zone Company, said obtaining a free trade zone licence had already begun to yield significant benefits, particularly through duty-free importation of construction materials and heavy equipment.
He explained that the investment was driven by a vision to position Abuja alongside leading global cities while creating a commercially viable destination for business, leisure and tourism.
According to Gidado, City Walk Abuja draws inspiration from Dubai’s renowned City Walk district and is intended to redefine the capital’s urban landscape through world-class infrastructure and mixed-use development.
He disclosed that the first phase is targeted for completion by May next year, with plans for its inauguration on May 29, subject to project timelines.
Nigeria currently operates 63 licensed free trade zones hosting more than 900 enterprises with investments estimated at over $40 billion. The scheme offers incentives including tax relief, simplified regulations and customs benefits aimed at attracting investment, promoting exports, creating jobs, encouraging technology transfer and supporting infrastructure development.
NEPZA believes projects such as City Walk Abuja represent the next phase in the evolution of the country’s free trade zone programme, expanding its impact beyond industrial production to urban regeneration, smart city development and broader economic transformation.
About the Author
