Free zones strategic to industrial development- NEPZA

Emmanuel Jime, managing director of Nigeria Export Processing Zones Authority (NEPZA), has said that free zones in Nigeria have strong roles to play in the country’s industrial development and revenue diversification.

Jime ,who stated this during an assessment tour of free zones in Lagos, said government would establish Satellite Industrial Centres across the six geo-political zones of the country.

According to him, the centres would serve as catalysts for the revival of the economy.

“The present administration’s desire is for the economy to fully diversify and this is the reason why the president has ordered the creation of the Satellite Industrial Centres in the six geo political zone across the country.

“For this to happen, NEPZA has been given the directive to anchor this and it will take effect as soon as the budget is passed,”Jime stated.

He said already NEPZA had started working on the concept of Industrial zones and efforts were on-going to identify 32 industrial cities across the country for the establishment of industrial zones, adding that every zone would focus on products they had comparative advantage on.

“Our country is blessed with abundant human and natural resources. The only way we can effectively diversify our economy is to develop our manufacturing sector by providing the requisite infrastructure and right incentives. This will encourage  investment and processing of raw materials into finished goods both for local consumption and for export.  This will also help to create jobs for our teeming unemployed youths, conserve scarce foreign exchange, among other benefits,” he said.

Odinaka Anudu