NEPZA partners NIPC to invest in three economic zones

The Nigeria Exports Processing Zones Authority (NEPZA) has partnered with the Nigerian Investment Promotion Commission (NIPC) to facilitate investment in the three newly approved special economic zones in Lagos, Kwara, and Katsina.

Recall that the Federal Government recently approved a total of six states economic zones (SEZs) to be sited across the six geo-political zones. It, however, approved three zones in Lagos, Katsina, and Kwara for full immediate upgrade/development while the remaining three were deferred to next year.

The NEPZA Managing Director, Prof. Adesoji Adesugba, and the NIPC Chief Executive, Yewande Sadiku, yesterday, agreed to work together.

Adesugba explained that efforts are ongoing to use the special economic zones to stimulate economic activities across the country, adding that the synergy of NEPZA/NIPC would help to attract the desired local and foreign investments to the zones.

According to him, the three new zones that were approved as medical, agro-allied, and cotton clusters would assist to boost production in the specific areas to support economic growth.

He said the partnership would spur the interest of international investors in medical free zones to be sited in Lekki, stressing: “The zone would drastically reduce the country’s capital flight following a recent increase in medical flight.

“We are also hopeful that the medical free trade zones will be a convergence of world-class hospitals, pharmaceuticals companies, aged homes, hotels, and medical-based research institutes. The enclaves, when operational, would retard the migration of medical professionals abroad.

“The authority has, in the last one year under my watch, adopted the workforce to execute our mandate.”

These include restructuring of the directorate cadre, establishment of health and safety units, establishment of NEPZA security outfit, and the establishment of an alternative dispute unit,” he said.

He explained that President Muhammadu Buhari has great expectations from the authority to fast-track the country’s industrialisation process.

The NIPC boss expressed satisfaction at the manner the NEPZA boss has repositioned the agency by promoting the special economic zones model across the country.

‘’We at NIPC are prepared for this robust partnership for the benefit of our country, our peoples,’’ she said.