The Nigeria Export Processing Zones Authority (NEPZA), says there are presently 46 private Free Trade Zones (FTZs) with a culminating investment value standing at 30 billion dollars
Prof. Adesoji Adesugba, the Managing Director, NEPZA said this on Sunday in Abuja in an interview with the News Agency of Nigeria
According to him, the free trade zones scheme has cumulative investment of N14.1 trillion.
Adesugba, while speaking on the success recorded by NEPZA in its drive to attract investors to Nigeria, said it also attracted one billion dollars investment to Niger State through Hydropolis FTZ in Kainji in 2022.
He said that the impact of the scheme was being seriously felt in the country’s Gross Domestic Product (GDP) and attraction of Forex.
“For instance, we have at the moment, 500 enterprises operating in these zones providing a total of 100,000 direct jobs and more than 170, 000 indirect jobs for the country’s teeming youth population.
“The authority has in the last two and half years developed the right strategy plan to put the scheme at the front-burner of global competitiveness,’’ the NEPZA boss said.
He said the Federal Government approved six public Special Economic Zones (SEZs) within seven years as against two that had existed for 30 years.
Adesugba said the number of registered private free trade zones also increased to 44 while 500 functional enterprises were attracted to the zones.
According to him, there are construction of the Deep-Sea Port at Lagos FTZ and construction of Dangote Refinery at the Dangote free zone enterprises in Lagos.
“There are on-going development of Medical special economic zone, Lekki, development of Agro-Allied special economic zone, Ilorin and development of Integrated Cotton and Garment special economic zone, Funtua, Katsina State,’’ he said.
The managing director, however, said that with its highly proficient workforce it had increased investment prospecting and promotion.
This, he said led to the desired attraction of Foreign Direct Investments (FDIs) and Local Direct Investments (LDI) respectively.