NEPZA, NIPC team up to boost investment in Lagos, Kwara economic zones

Date: 2021-09-02

The Nigeria Export Processing Zones Authority (NEPZA) and the Nigerian Investment Promotion Commission (NIPC) have partnered to boost investments in the newly approved special economic zones (SEZs).

SEZs are areas in a country offering economic advantages such as tax incentives and the opportunity to pay lower tariffs to businesses.

The three new zones are in Lagos, Kwara and Katsina for medical, agro-allied and cotton clusters.

Martins Odeh, NEPZA's head of corporate communications, disclosed this in a statement released on Wednesday in Abuja.

Last year, the federal government reaffirmed its commitment to the development of special economic zones across the country.

In May 2021, President Muhammadu Buhari approved four Nigerian airports as special economic zones (SEZs). These are Murtala Muhammed International Airport, Lagos; Mallam Aminu Kano International Airport, Kano; Nnamdi Azikiwe International Airport, Abuja and Port Harcourt International Airport, Rivers state.

Speaking on the new partnership, Adesoji Adesugba, NEPZA's managing director, acknowledged that the federal government had approved six SEZs to be evenly sited in the six geo-political zones but the agency earmarked these three for development in the 2021 fiscal year while the rest three deferred to 2022.

He further explained that there are ongoing efforts to use the zones to stimulate genuine economic activities nationwide.

He said the synergy with NIPC would help to migrate desired local and international investments to these zones.

According to Adesugba, the partnership would spur international investors interest in the medical free zone to be sited in Lekki and reduce capital flight through medical tourism by Nigerians abroad.

"We are also hopeful that the Medical Free Trade Zone will be a convergence of world-class hospitals, pharmaceutical companies, aged homes, hotels and medical-based research institutes.

"This enclave, when operational, will retard the migration of medical professionals abroad," he said.

Yewande Sadiku, executive secretary of the NIPC, on her part, expressed satisfaction in the way the NEPZA boss had promoted the special economic zones model across the country.

She added that the commission was prepared to partner with NEPZA to accelerate economic development, stating that the three new special economic zones would be used as a pilot scheme for more investment drive.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

NYSC     Olatunde Oyeyiola     Bolaji Abdullahi     ASKOMP     Ladi Hassan     Emir Of Ilorin     Tunji Olawuyi     Sango-UITH Road     Guber Aspirant     Musbau A. Akanji     Bilikisu Oniyangi     Sola Saraki Educational Foundation     Abdulrauf Yusuf     Al-Hikmah University     Col. Ibrahim Taiwo     Age AbdulKareem     Mohammed Danjuma     Ilorin East/South Federal Constituency     Ahmad Ali     Ahman Pategi     Bank Of Industry     Yahaya Abdulkareem Babaita     Gambari     HAMFAT Clinic And Maternity     Kunle Suleiman     Just Event Online     KW-GIS     Ado Bayero     Yeketi     Abubakar Ndakene     Okin Biscuit     Olosi Of Osi     Sadiq Umar     Hydro-electric Power Producing Areas Development Commission     Idris Amosa Oladipo Saidu     Mohammed Ibrahim     Yusuf Abdulraheem     Ayedun     Magaji Erubu     Sambo Murtala     Turaki Of Ilorin     Pilgrims Board     Kwara State Government     Sheikh Ridhwanullah El-ilory     Kamaldeen Kehinde     Pakata     Jimoh Olusola Imam     Okin Biscuits     Ibrahim Taiwo Road     Lai Gobir     Plat Technologies Limited     LABTOP     Toyin Sanusi     Taiwo Joseph     April 11     Tafidan Kaiama     Code Of Conduct Bureau     Quareeb     Gafaru Olayiwola Olorisade     Chikanda     Suraj Tunji Oyewale     Kayode Oyin Zubair     Raji AbdulRasaq     Erubu     Ganiyu Abolarin     Olatunji Ayeni     Isau     Tunde Akanbi     Junior Secondary School Certificate Examinations     Senate     Olofa Of Offa     Chief Imam Of Ilorin     Chief Imam Of Offa     Najim Yaasin     Alapado     Femi Gbajabiamila     John Obuh    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Ojo Fadumila     Sabitiyu Grillo     Abatemi-Usman     Colleges Of Education Academic Staff Union     Salihu S. Yaru     Kunle Suleiman     Iyabo Adewuyi     KWATMA     Sobi FM     Ahmed \'Lateef     Ilorin Airport     Kwara Central     Aminu Adisa Logun     Owo Arugbo     Ghali Muhammed     Gafaru Olayiwola Olorisade     Okin Group     07039448763     Folajimi Aleshinloye     Ilorin Emirate     NITDA     Kwara State Council Of Chiefs     Olatunji Ayeni     Freshvine Nigeria Limited     Hassan Taiye Salam     Umar Gunu     Dairo Kunle Paul     Abdulganiyu Salahudeen     Yahaya Abdulkareem Babaita     Abdulkadir Akanbi-Oke     Jimba Babatunde     Isin     Mahee Abdulkadir     Dumagi     Ilorin Curfew     Marufat Oladosu     Ashiru     Abdulquawiy Olododo     Kwara Apc     Buari Edun     Sulyman Buhari     Nigerian Army     Ilorin Innovation Hub     Basit Olatunji     Ibikunle Ogunleye     Moshood Mustapha     Abdulkarim Adisa     Earlyon Technologies     Kale Belgore     VADA     Adebara     Toyin Saraki     Abdulhakeem Adelaja Amao     Senior Ibrahim Suleiman     Bello Bature     Lateef Fagbemi     Yahaya Seriki Gambari     Obayomi Azeez     Ajase-Ipo     Arinola Fatimoh Lawal     Yunus Oniboki     Bashir Adigun     Adamu Jemilat-Baki     TESCOM 2025     Veterinary Teaching Hospital     Saadu Yusuf     Student Learning Support Helpline     Arandun     Gobir     Ibraheem Adeola Katibi     Abdulrahman Abdulrasak     Abdulrosheed Okiki     Kehinde Boyede     Ishak Mohammed Sabi     Tayo Awodiji     Baboko     Baba Idris