The Nigeria Export Processing Zones Authority (NEPZA) has urged Free Trade Zones Management Companies and enterprises operating within free zones to increase their production volumes for exports.
Dr Olufemi Ogunyemi, NEPZA’s Managing Director, in a statement issued by the Corporate Communications, head, Martins Odeh on Tuesday, said this was to justify government’s incentives and waivers that drove the scheme.
Ogunyemi said this after rounding off his maiden inspection tour of some Free Trade Zones in Calabar and Lagos.
According to him, it is high time the scheme is used to attain a balance of trade for the country.
He said the authority was prepared to upscale its monitoring and supervision to ensure the 52 Free Trade Zones, and over 600 licenced enterprises were supported to boost the economy significantly.
“The Federal Government is on the verge of auditing the contribution of the scheme to the economy.
”The time has come for all the Free Trade Zones Management Companies and their enterprises to justify government’s incentives and waivers.
“Let me, therefore, urge free trade zones’ owners and enterprises to revert to the original reasons while they were granted licences to operate in these highly incentivised business environments.
“Which includes but not limited to high volume exports; employment generation; skills transfer; and foreign exchange earnings,” he said.
According to Ogunyemi, the authority is currently intervening in all areas of concerns preventing enterprises within the zones from attaining economies of scale in their production lines.
“We will also continue to ensure that the country’s interest still remain the fulcrum that drives the scheme,’’ Ogunyemi said.
The locations visited by NEPZA’s boss include the Calabar FTZ; Ogun-Guandong; Lagos FZ; Lekki Free Port; Dangote Refinery; Alaro City; Lekki; Eko Atlantic, Quit; NAHCO; Sky-Sheff; Caverton; ASL; and PAC.