Jonathan approves establishment of Enugu Free Trade Zone
The Enugu State Government says it has received approval from the Federal Government to establish a Free Trade Zone (FTZ) in Enugu to serve the South East.
The Commissioner for Commerce and Industry, Dr Jude Akubuilo, told the News Agency of Nigeria (NAN) in Enugu on Tuesday that President Goodluck Jonathan gave the approval in April.
He said that the FTZ, to be located at the Ninth mile corner in Enugu metropolis, would have 402 hectares of land and another 16.8 hectares at the Akanu Ibiam International Airport.
The commissioner said that Gov. Sullivan Chime worked hard to secure the approval.
“We are waiting for the licence backing the approval and we are optimistic that it will come before the end of May.
“If you bring in goods and it is cleared and taken to the zone, an enhancement will be done to those goods, you will almost get them tax free.
“The industrial activities in the state will be astronomical because everybody who owns a factory in Nnewi, Onitsha, Orba, Nsukka, Ebonyi, Aba will be clamouring to have their factories in the zone.
“ Jobs will be created, improved infrastructures, enhanced road network, enhanced rail activities will be enjoyed in the state,’’ Akubuilo said.
He appealed to the incoming APC-led administration to support the development of the trade zone to enhance the nation’s economy and lives of people in the area.
NAN reports that the FTZ scheme was evolved to strategically improve investment climate in Nigeria, by stimulating export oriented business activities through the strengthening of strategic national economic policies.
It is to streamline administrative approval processes and provide a one-stop-shop service for businesses.
The target is to also create an enabling environment for the growth and development of export-oriented goods in the non-oil sector of the economy. T
No comments yet