BEYOND POLITICS: SOUTH EAST NIGERIA ECONOMIC INTEGRATION AND THE PLACE OF FREE TRADE ZONES

Abstract

Since 2017, the South Eastern region of Nigeria, comprising of Abia, Anambra, Ebonyi, Enugu and Imo State have advocated for economic integration to enhance its regional prominence. The study explores the transformation potential of Free Trade Zones (FTZ) in accelerating economic growth and integration in the South East, leveraging the Free Trade Zone Act of 2019, which provided tax breaks and streamlined custom procedures. Utilizing a qualitative research methodology and a system theory as the theoretical framework, this paper draws from secondary data sources and employs content analysis. The findings reveal that FTZs attract. significant Foreign Direct Investment (FDI), which the region can strategically harness.  Moreover, the implementation of FTZs is shown to reduce unemployment rates and increase the region’s Gross Domestic Product (GDP). The study emphasizes that these economic benefits are sustainable only if state policies are designed with long - term perspective, transcending political tenures. Recommendations include the adoption of enduring policies to ensure the institutionalization of FTZs, thereby serving as a cornerstone for economic integration in the South East region of Nigeria. Also the quantum of diaspora remittance into the country can be directed towards investment given the right atmosphere.