The Nigeria Export Processing Zones Authority (NEPZA) has revealed that the 44 Free Trade Zones in Nigeria have a cumulative investment of N27 billion.
This was revealed by the Managing Director of NEPZA, Professor Adesoji Adesugba, when he received the Executive Governor of Taraba State, Darius Ishaku, in Abuja on Thursday.
Professor Adesugba said free trade zones in the country are attracting more investment into the Nigerian economy.
Speaking on plans to establish a Special Economic Zone in Taraba State, Prof. Adesugba said free trade zones are used globally to accelerate development and as such countries that have prioritised free trade zones, such as China and Dubai, have successful economies.
He said from 2021, one of the key drivers of the Nigerian economy would be free trade zones in the country with more than $22 million in investments.
The NEPZA boss said his Authority would develop one of the best special economic zones in the country in Taraba State to speed up the industrialisation of the state.
The governor of Taraba State, Ishaku Darius, requested the partnership of the Nigeria Export Processing Zones Authority (NEPZA) to set up a free trade zone in the state.
Governor Darius said the state would earn about a N1 billion annually from the free trade zone once it kicks off.
He said Taraba State is blessed in agriculture and solid minerals and a free trade zone would advance the state’s economy.
The governor said his government has prioritised agriculture as it has the potential of massive employment for the youth.
He added that the Free Trade Zone would help the state in exporting beef, coffee and tea to the outside world.
