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NEPZA Nets $2.8bn in Foreign Direct Investment

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BY SOLOMON AYADO, Abuja

The Nigeria Export Processing Zones Authority (NEPZA) has licenced three new Free Trade Zones (FTZs), netting the country over $2.751billion in Foreign Direct Investment (FDI) inflows.

Managing Director of the agency, Barrister Emmanuel Jime disclosed this on Thursday in Abuja. He named the new FTZs as: Nasco Town FTZ; Quit Aviation Services FTZ; and Tomaro FTZ respectively.

He explained that, besides this netting the country over $2.751billion in Foreign Direct Investment (FDI) inflows, the new FTZs are targeting direct jobs in excess of 50, 000.

His words: “Under my stewardship, we have so far been able to licence three new industrial parks that is, Nasco Town Free Zone, which is valued $2,086billion. It is estimated, at completion, to be able to provide 15,000 direct jobs.

“The second is Quit Aviation Services Free Zone, valued at $215million, and is estimated to provide jobs in their thousands. And there is: Tomaro Industrial Park, in Lagos, valued at $450million. It would also provide jobs running into the thousands.”

The NEPZA helmsman listed challenges he met upon assumption of office to include low staff morale, inter-agency rivalry, delayed promotions and poor investor-confidence, but said he has been able to make appreciable impact with the support of his cooperative management team.


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