FG engages firm for Kano, Calabar economic zones concession

The Federal Government has engaged a consortium, Ernst and Young, to concession Calabar and Kano Special Economic Zones (SEZs).

This is even as the Bureau of Public Enterprises (BPE) said successful concessionaires for the SEZ would emerge in April 2021.

• NIPC, Special Duties Ministry parley on economic zones
• NEPZA, firm plan economic zone for agro produce

These were disclosed at the engagement ceremony for the concession of the zones in Abuja on Thursday.

After signing an agreement with the consortium, the Minister of State for Industry, Amb. Mariam Katagum, said the National Council on Privatisation (NCP) approved the projects at a meeting held in June 2018.

Katagum said with this, the Trade Ministry engaged Ernst and Young as the Transaction Advisers to guide the reform process for the SEZs.

“It is the sincere expectation of the TIC that the Ernst & Young Consortium will add immense value to the on-going revitalisation processes on the SEZ’s and cause a major breakthrough in the Country’s effort at engendering massive industrial revolution and inflow of Foreign Direct Investments.”

The Managing Director of Nigerian Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, said the two special economic zones owned by the Federal Government have the potential of boosting the nation’s economy when fully developed.

Adesugba expressed optimism that the consortium would deliver on its mandate.

The Partner, Strategy and Transaction for Ernst and Young, Damilola Aloba, said the SEZs are meant to attract the best investments to the country.

He said the process, which would last for nine months, would also involve developing a marketing strategy to make the zones attractive to investors.

Director General of BPE, Alex Okoh said there would be transparency in the whole concessioning process which would be completed in April.

He assured that no jobs would be lost after the concession of the zones.