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Nigeria To Create Special Economic Zones

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Vice President Yemi Osinbajo disclosed yesterday that the federal government and private sector will collaborate in creating Special Economic Zones (SEZ).

This, he said, will start first with the Textile and Garment industry, with a view to spurring the nation’s economic development.

Speaking at an interactive meeting with selected investors at the ongoing World Economic Forum holding in Davos, the vice president noted that “having the right mind-set and understanding where we want to go” will affect the implementation process whilst ensuring things get done in the nation’s business environment.

A statement by his spokesman, Laolu Akande, also quoted Osinbajo as saying the collaboration between private sector and the government ensures consistency in the implementation of economic policies.

The VP added that one of the reasons he was optimistic about the forthcoming SEZ for garment manufacturing is because it is specific.

He added that SEZ “is something we can measure very quickly; working with investors and allowing them to tell us what they want to achieve. This will help us attain set objectives.”

Osinbajo further stated that having labs where issues around effective implementation plans would be intensely discussed with experts drawn from the private sector and public sector, will also help ensure that government achieve its objectives, as those labs will set up the implementation agenda and see it through to the end.

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, and his Industry, Trade & Investment counterpart, Dr. Okechukwu Enelamah were also at the interaction.



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