NEPZA to revive Borno Free Trade Zone despite unpaid licencing fees
The Nigeria Export Processing Zones Authority (NEPZA) is working with the Borno State Government to revive the comatose Banki Border Free Trade Zone in the state, the Managing Director, Adesoji Adesugba, has disclosed
Recall that the Banki Border Free Zone was given an operating licence in 2000 and subsequently renewed in September 2011 to grant it right to manufacturing and warehousing. But, it went into comatose following the taking over of the place by insurgency.
“We know that the trade zone is yet to settle the outstanding operational fees put at over N246.93 million covering the year 2011to 2021. We have commenced the process of reviving the area to attract local and foreign direct investments and create jobs for the people,” Adesugba said.
The NEPZA Chief executive gave the assurance when the governor of Borno State visited him in Abuja to solicit for the revival of the free trade zone.
According to Adesugba, “There is no gainsaying that unemployment has skyrocketed in that zone, so we need to move fast to revive the area to quickly create jobs for the people; we are aware they are yet to fully offset the outstanding operating licence fees but we cannot abandon the place now because of this. We are currently collaborating with the governor to ensure a quick revival of the free trade zone.”
Gov. Zulum also pledged to work with the NEPZA to resuscitate the free trade zone to create 50,000 new jobs for the youths.