NEPZA attracts $1bn investment to Niger State

The Nigeria Export Processing Zones Authority (NEPZA) says it has attracted one billion dollars investment in Niger.

A statement on Saturday in Abuja by NEPZA’s Head of Corporate Communications, Mr Martins Odeh, said the authority remained resolute on its mandate as a key player in pursuing Nigeria’s economic development.

The statement reported Prof. Adesoji Adesugba, Managing Director of NEPZA of saying this while handing over an approved free trade zone declaration licence to officials of the investing company, Hydropolis Investment Limited, on Thursday in Abuja.

According to Adesugba, NEPZA has remained resolute on its mandate as a key player in pursuit of the nation’s economic development by striking yet again a one-billion dollar investment in the state.

The Authority had, on July 8, secured an investment worth 100 million dollars at the Medical/Pharmaceutical Special Economic Zone in Lekki, Lagos for the production of medical equipment.

Adesugba said that NEPZA was assiduously scouting for investments to assist the Federal Government and the sub-nationals to bridge the country’s development deficits speedily.

He said that the Authority was enthused in delivering an operative free trade zone licence to Hydropolis Investment Limited, adding that the now, Hydropolis Free Trade Zone occupied 2,000 hectares of land at Amfani Village in Magama Local Government Area in Niger.

The NEPZA boss said that the new zone would commit over one billion dollars to establish an industrial park, smart city and a cargo international airport that would provide backward linkages for local and foreign businesses.

He said the development was another economic milestone as the zone was bound to positively impact on the country’s employment profile and Gross Domestic Product.

On his part, Dr Abdulmalik Ndagi, Managing Director, Hydropolis Investment Limited, expressed satisfaction on the speedy nature of the approval.

Ndagi described the zone as an ideal economic pivot for the entire country.

According to him, the zone will be a replica of Lekki Free Trade Zone in the North Central region of the country.

He further said the strategic location of the zone to the Kainji Dam gave it the desired edge.

Ndagi added that the business ecosystem had already struck a deal with the Federal Government to source its electricity from the dam.

“We are sincerely indebted to the President, Muhammadu Buhari, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, as well as the NEPZA MD/CEO, Prof. Adesugba, for their efforts in ensuring the this realisation of the projects.

“As a business venture, we are promising to leverage on this confidence reposed on us to contribute our quota to the development of this great nation.

“Work has commenced at the location and we hope to round off the development of the internal infrastructure like road networks, offices, fencing, electricity before November when the President shall be inaugurating this world class business haven,’’ Ndagi said.