Nigeria to establish national industrial technology park

(Ecofin Agency) – The Nigerian Senate on Tuesday, April 5 passed a bill creating a national industrial and technological park. The bill, sponsored by Senator Ibikunle Amosun, seeks to establish the National Industrial and Technology Park as a mechanism for “clustering the formation of knowledge and innovation based industrial parks in Nigeria”. It has been referred to the Trade and Investment Committee which is expected to report back to the House within four weeks for legislative action.

“The establishment of parks, such as this, makes it easier for companies and entrepreneurs to take advantage of the availability of resources, technical know-how, knowledge and professionalism, which can pave the way for development and testing business and technology solutions”, said Senator Ibikunle Amosun.

The initiative is part of the Nigerian government’s strategy to attract investments from major players in the digital industry and to boost technological development in line with the Digital Development Strategy 2022-2025.

Once established, the industrial technology park should contribute to accelerating the diversification of the national economy and attracting innovative companies likely to create jobs. It is also expected to help raise revenue and channel more financial resources to the country while enabling it to become an industrial nation.

Isaac K. Kassouwi

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