NEPZA To Establish Additional Free Trade Zones

16 November 2020 By Mathew Ayoola

The Nigeria Export Processing Zones Authority, NEPZA is to establish six additional Free Trade Zones in the country.

The Managing Director of NEPZA, Prof Adesoji Adesugba made this known while speaking with newsmen in Abuja.

Prof Adesugba said the Free Trade Zones would be located in Benue, Ebonyi, Funtua, Gombe, Kwara and Lagos.

He stated that this would compliment the existing government Free Zones in Calabar and Kano as well as others belonging to the private sector in developing the nation’s economy.

According to him, Free Zones contribute more than twenty seven billions dollars to Nigeria’s Gross Domestic Product, GDP.

Prof Adesugba stated that the Zones when established would ensure job creation, poverty reduction, reduce youth restiveness and enhance the country’s industrialization breakthrough.

The NEPZA Managing Director reiterated the commitment and contributions of the Agency towards realizing President Muhammadu Buhari’s administration agenda in the area of national economic development.

He therefore advised State Governments to key into various Special Economic Free Zones of NEPZA towards fast tracking economic growth and employment generation for the teeming populace at the grassroots.

While expressing concern on billions of dollars been wasted on medical tourism, Prof Adesugba explained that NEPZA was also working towards establishing Medical Tourism Free Zone next year as part of strategies to discourage Nigerians from traveling abroad for medical treatment.

He added that the move would also go a long way to contribute to the growth of the nation’s health sector.

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