Dr. Olufemi Ogunyemi, the Managing Director and Chief Executive Officer of the Nigerian Export Processing Zones Authority (NEPZA), has achieved a significant milestone by being elected to the board of the World Free Zone Organisation (WFZO). This election took place during the recently conducted 2024 World Free Zone Congress in Dubai, United Arab Emirates, marking a noteworthy moment for both Ogunyemi and Nigeria. The announcement was made official by Martins Odeh, NEPZA’s Head of Corporate Communications, who described this election as a demonstration of international confidence in Nigeria’s leadership within the free trade zone sector.
Ogunyemi expressed his gratitude and delight at the overwhelming support he received from voters during the election, emphasizing that this victory stems from NEPZA’s strong management framework and the substantial investments made in the free trade zone initiative by President Bola Tinubu. He acknowledged that these governmental efforts have garner increased recognition from the global community engaged in free trade zones. The support from a diverse pool of African, European, and Latin American members was crucial, as Ogunyemi actively sought their backing prior to the elections, reinforcing the idea of collaboration among nations.
Highlighting the importance of the WFZO, Ogunyemi described the organization as a central hub for Foreign Direct Investment (FDI) opportunities. He articulated the potential for African nations, including Nigeria, to leverage his new position on the board to enhance their strategies aimed at attracting more foreign investments to the continent. Ogunyemi’s perspective reflects a broader vision for Africa to elevate its presence in global trade and economic discussions while actively seeking ways to optimize its investment landscape.
The WFZO functions as an umbrella organization comprising countries that own and manage free trade zone schemes, serving as a platform for collaboration, knowledge sharing, and partnership among member nations. By joining this board, Ogunyemi is positioned to contribute significantly to the development of policies and frameworks that can foster economic prosperity through effective management of free trade zones. This partnership-driven approach aligns with the goals of the WFZO, which is dedicated to creating sustainable economic growth and building trust among its members.
Ogunyemi’s election is not just a personal achievement; it also serves as a testament to Nigeria’s credibility and capability to lead in a global context, especially within the domain of free trade. The recognition from an international organization such as the WFZO highlights the strides that Nigeria is making in improving its investment climate. Through his role, Ogunyemi aims to be a voice for African interests and to promote more robust economic relations between the continent and the rest of the world.
In summary, Dr. Ogunyemi’s election to the WFZO board represents a pivotal accomplishment for both him and Nigeria. It underscores a commitment to improving the free trade zone landscape and harnessing foreign investments for economic growth. Ogunyemi’s vision for collaboration among African nations and other global partners signifies a proactive approach to navigating the complexities of international trade, ultimately aiming to enhance Africa’s economic prospects in the global market.
