With over $77billion foreign direct investments(FDI), Nigeria’s free trade zones now account for over 60 per cent of FDI inflows into the country.
The Nigeria Export Processing Zones Authority (NEPZA) which made this disclosure in Abuja, said its focus is on high profile investors and their value chains. The regulatory agency said the inflows also covered four industrial parks spread across the country.
The agency also said that the ingenuity deployed in the management of these zones has also contributed in no small way in retaining the confidence of these investors. Managing director, NEPZA, Mr Gbenga Kuye, who dropped this hint during a workshop for the media penultimate week said a new Act that would make NEPZA the sole agency responsible for the country’s industrialization was already underway. Read more