NEPZA seeks $22 billion from Delta as Special Economic Zone Investment

The Nigeria Export Processing Zones Authority (NEPZA), a special economic zone, claims it is aiming for a 22 billion dollar investment from Delta state to improve the trade zones program in the state and across the nation. The agency’s managing director, Prof. Adesoji Adesugba, disclosed this information at the presentation of a license to the Delta Special Economic Zone (DSEZ) on Wednesday in Abuja. The managing director praised the state government’s efforts to revive the free trade zone program and reaffirmed NEPZA’s commitment to helping the project succeed by supporting its full implementation. He claims that the FTZ program has been successful in changing the direction of economic development in several countries.

“We need to be very competitive, which is why NEPZA is very happy to be working with you,” he said.Lagos is the topic of conversation everywhere. In Lagos, there are roughly 22 billion dollars invested in free zones, and we think we can duplicate this in other states. “NEPZA is willing, ready and capable to give you all the necessary support,” Adesugba said, emphasizing the need for the Nigerian market to be more competitive.

“Delta stands to gain; it is well positioned; all it needs is that leadership and vision which you have shown, and we pray that your successor will key into this and ensure we actualise it.”

Dr. Kayode Adetokunbo, the project’s consultant, spoke for himself when he emphasized the significance of the project, which among other things included creating jobs for young Nigerians. Adetokunbo said that the state government made significant investments in order to foster safety and security, capital investment, health care, education, and a conducive climate for economic growth.

He declared, “The opportunities are imminent, Delta is generally safe, and it is ready for business. In a separate speech, Governor Ifeanyi Okowa praised the NEPZA director for his dedication and help in obtaining the project’s license and urged increased cooperation. “We are also heavily involved in agriculture, and when you combine all of these things, I think we are set for this country and for the world,” he continued.

Despite the difficult times and problems in many states across the country, according to Okowa, the state was relatively calm, creating a favorable environment for businesses to flourish. “We are prepared for partnership, not just with NEPZA but also with other Nigerians, especially the organized private sector and the international community.

And as a state, we are there to make sure we can offer a competitive, pleasant, and friendly environment. To ensure that we are able to create the human capital that will also be required for the expansion of industries, we will collaborate with the rest of Nigerians. I think we are prepared to make sure that this special economic zone benefits everyone, he said.
(c) Agro Nigeria

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