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Nigeria plans special economic zones to double manufacturing by 2025

Nigeria announced on 10 april a target to double its manufacturing output to 20 percent of GDP within six years and will set up production hubs across the country in partnership with regional aid banks, said in a statement the ministry of industry, trade and investment. 

“Project MINE’s (Made in Nigeria for Export) strategic objectives are to increase (the) manufacturing sector’s contribution to GDP to 20 percent … and generate over $30 billion annually by 2025The government has set up Nigeria SEZ Investment Company, which will finance industrial parks in special economic zones in the commercial capital of Lagos, southeastern state of Abia and northern state of Katsina. 

The government is currently raising capital of $250 million for Nigeria SEZ Investment Company. It plans to double its equity to $500 million over four years, the ministry said. 

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