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FG committed to development of special economic zones, says Osinbajo


Vice-President Yemi Osinbajo

Government has assured strategic investment partners and advisers of the Nigeria Special Economic Zone Investment Company Limited (NSEZCO) of its commitment to the development of special economic zones (SEZs) across the country.

Vice President Yemi Osinbajo gave the assurance at a meeting with representatives of NSEZCO, African Export-Import Bank (Afreximbank), Bank of Industry (BoI), Nigerian Sovereign Investment Authority (NSIA), Africa Finance Corporation (AFC) and African Development Bank (AfDB).

Prof. Osinbajo condemned the recent reports about NSEZCO in the media and regretted the embarrassment it might have caused the investors.

He reaffirmed government’s endorsement of the strategies put in place for the actualisation of the SEZs.


The VP also assured the investors of the readiness of the Buhari administration to support their investments in the company.

According to him, it is the vision of the Buhari administration for Nigeria to be the manufacturing hub in Sub-Saharan Africa and a major exporter of manufactured products.

Osinbajo restated the government’s commitment to the Made in Nigeria for Exports (MINE), a presidential priority intervention project, using SEZs to boost manufacturing’s share of the gross domestic product (GDP) to 20 per cent, generating $30 billion in annual export earnings and creating 1.5 million new jobs in the export-oriented manufacturing value chain.

“The project is fundamental for us, as industrialisation is a major pillar of our Economic Recovery and Growth Plan (EGRP),” he said.

Attorney-General of the Federation (AGF), Abubakar Malami, explained to the investors that the recent investigation into the affairs of the company was to establish the integrity of the federal government and the propriety of its actions in the light of the negative perceptions created in the media.

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