The federal government has given approval for the first zero fossil energy emission-free trade zone in the country.
The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, during the handing over ceremony of the park’s license, said it commences a deliberate regime for zero fossil energy emission in the country.
Adesugba, in a statement yesterday, stated that the approval, the first in the South West region at Imoore, Amuwo-Odofin area of Lagos, would sit on 115,503 hectares of land.
“This positions Nigeria as the leading continental hub for regional eco-friendly industrial activities and logistics services with free trade zone status. The new dispensation will still witness active manufacturing activities without the usual emission of destructive carbon energy into our space. This is in line with the federal government’s policy on promoting a green environment.
He added that the park is a manufacturing space that would promote food processing, textile and garment production, renewable energy and electric cars as well as research and development services with over 50 international enterprises ready to move to the site in earnest.
Speaking, the Managing Director/CEO of the zone, Anita Omoile, said the industrial park would generate over 10,000 jobs and inject an estimated $100m annually into the economy.
Omoile expressed satisfaction with the seamless and speedy manner the approval was given, adding that the authority had taken the ‘ease of doing business’ policy of the government to a new effective level.
“Our partners across the globe are enthused with the development and this shows that the country is beginning to create the right business environment to attract the needed Foreign Direct Investments,’’ Omoile said.