The Nigeria Export Processing Zones Authority (NEPZA) and the Federal Capital Territory Administration (FCTA) have agreed to work together in creating a world-class environment for Free Trade Zones in Abuja.
This followed NEPZA’s intervention in the dispute between the FCTA and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over a potential revocation of the zone’s land title.
Managing director of NEPZA, Dr Olufemi Ogunyemi, disclosed the resolution on Thursday in Abuja during a courtesy visit to the FCT Minister, Nyesom Wike, where he urged ATV operators and investors to immediately withdraw their lawsuit against the administration to enable a roundtable negotiation.
According to a statement by the head media corporate communications, NEPZA, Martins Odeh, ATV operators had earlier gone to court in response to a revocation notice issued by the FCTA.
Ogunyemi, who is also NEPZA’s Chief executive officer, said supporting the growth of Free Trade Zones would boost Nigeria’s economy and accelerate the industrialisation of the FCT. He commended Wike for steps taken to expand the territory’s economic frontiers, particularly through the proposed Abuja City Walk (ACW) project.
He revealed that NEPZA was preparing to assess all 63 licensed Free Trade Zones across the country to evaluate their functionality and contributions to foreign direct investment and exports.
“I have come to discuss with the minister on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
In his remarks, Wike reaffirmed his determination to deliver on President Bola Ahmed Tinubu’s Renewed Hope Agenda by attracting foreign investment to the FCT.
“We must fulfil Mr President’s promises regarding industrialisation, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” the minister said.
Wike explained that the Abuja City Walk project, to be sited within the ATV corridor along Airport Road, would cover over 200 hectares and create a vibrant, mixed-use urban centre with residential, commercial, retail, hospitality, medical, and institutional facilities.
He described the ACW as a “high-definition, world-class project” that would give real meaning to the Renewed Hope Agenda in the North-Central region.
The minister also vowed to continue pursuing land and property owners who have failed to meet their obligations to the FCT, insisting that the development of the territory would not be compromised.
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