NEPZA targets $22bn investment from Delta special economic zone

The Nigeria Export Processing Zones Authority (NEPZA) is targeting a $ 22 billion investment from Delta State as a special economic zone.

The Managing Director of the agency, Adesoji Adesugba, made this known at the presentation of the licence to the Delta Special Economic Zone on Wednesday in Abuja.

While commending the state government’s efforts in reactivating the free trade zones scheme, the managing director restated NEPZA’s commitment towards supporting full implementation and the success of the project.

According to him, the Free Trade Zones scheme has been able to turn the tide of economic development in different nations.

“We need to be very competitive and that is why NEPZA is very happy to be working with you,” he said.

We can replicate what’s happening in Lagos

“Everybody is talking about Lagos. There are about 22 billion dollars in investments in free zones in Lagos and we believe that we can replicate what is happening in other states.

“Delta stands to gain. It is well positioned, and all it needs is that leadership and vision which you have shown and we pray that your successor will key into this and ensure we actualise it.

“NEPZA is willing, ready and capable of giving you all the necessary support,” Mr Adesugba, a professor, said.

While emphasising the need for the Nigerian market to be more competitive, Mr Adesugba said that the free trade zones scheme turned the tides of economic development of different nations.

Also speaking, Kayode Adetokunbo, the consultant for the project, noted the importance of the project, which includes creating jobs for the teaming Nigerian youth.

Mr Adetokunbo said the state government invested heavily in peace and security, capital investment, health, and education and has created the enabling environment for businesses to thrive.

“The opportunities are eminent, Delta is relatively safe and set for business,” he said.

Also, Governor Ifeanyi Okowa commended the NEPZA boss for his commitment and support towards realising the licence for the project, while calling for more collaboration.

According to him, the state has a great advantage as it produces a lot of gas and oil.

“We are also very much involved in agriculture and putting all these things together, I believe that we are set for this nation and the world,” he said.

Mr Okowa said despite the challenging times and troubles in many states of the nation, the state was relatively peaceful and has provided an enabling environment for businesses to thrive.

“We are ready for the partnership, not only with NEPZA but with the rest of Nigerians, particularly the organised private sector and the global community,” he said.

“And we are there as a state to ensure that we are able to provide a competitive, peaceful and welcoming environment,” he added.

“We will work with the rest of Nigerians to ensure that we are able to develop the human capital which will also be needed for the growth of industries.

“I believe that we are ready to ensure that this special economic zone works for all,” Mr Okowa said.

(NAN)