Follow Us on Google
By Henry Uche
As part of its efforts to revitalise the economy, the Federal Government, through National Council on Privatisation (NCP) , Bureau of Public Enterprises(BPE), in conjunction with Federal Ministry of Industry, Trade and Investment and the Nigeria Export Processing Zones Authority (NEPZA), has declared open the opportunity for the concession of the Calabar and Kano Free Trade zones in a bid to make them world class standard, functional and globally competitive.
The Minister of Industry, Trade & Investment (FMITI), Otunba Adeniyi Adebayo, who made this known in Lagos, decried the cumulative investment earnings of about $20billion from the Calabar and Kano Free Trade zones when compared with what other African countries earn from their trade zones.
The minister, while declaring open the road show for the concession of the trade zones (formerly Special Economic Zones (SEZs) in Nigeria, said the concession was encapsulated in the Economic Recovery and Growth Plan (2017-2020) and the current National Development Plan is to accelerate the implementation of the Nigeria Industrial Revolution Plan (NIRP) through the use of Free Trade Zones (FTZs) in order to create jobs, promote exports and boost growth and development.
While speaking on behalf of the NCP, the FMITI and the Bureau of Public Enterprises (BPE), he stressed that it was the desire of the Federal Government to accelerate the pace of economic growth and development of Nigeria.
