NEPZA records N50 billion in three years - issues 29 licences in 27 years

Segun Oladipupo |

The Nigeria Export Processing Zones Authority (NEPZA) said it has recorded N50 billion in the last three years, adding that not less than 39 licence permits were issued to operators in the last 29 years.

The Authority further noted that the highest it recorded under past government was N2 billion.

The Acting Managing Director, Engr. David Terhemba Nongo disclosed this at a recent public function in Lagos.

Engr. Nongo said the issuances were in line with the authority’ s mandate, adding that two of the zones were public owned with 14 currently operational.

According to him, the remaining zones that have been licensed by the authority are still under various stages of development.

He added that a total of $16billion FDI has been attracted into the nation’s economy .

“From 1992 to April 2017, NEPZA had 34 Free Zones spread across the country and between then and now, the number has risen to 39.

“And with 39 Free Zones, Industrial parks and well over 400 licensed Free Zones Enterprises (FZEs), NEPZA has attracted over $16billion FDI into the national economy since inception; and contributes a major percentage of FDI that Nigeria attracts.

He noted that some of the new special economic zones include: Lekki, Sokoto, Makurdi, Ilorin, Bauchi, Abakaliki and Benin.

Furthermore, NEPZA boss explained that the authority has the presidential authorisation to licence new zones, pilot industrial parks and special economic zones, one at each geopolitical zone in the country.

The NEPZA boss who spoke through the Head of Corporate Communication, Simon Imobo Tsuwan, explained that the authority has been able to record N50 billion in the last three years, adding that the highest it recorded under past government was N2 billion.

He affirmed that the Free Zones scheme was envisioned on diversifying the nation’s economy from oil, fast-tracking her industrialisation, stimulating export oriented business enterprises and manufacturing, strengthening strategic national economic policies.

“Our vision is to establish industrial zones of the highest quality that meet the needs of investors and ensure a diversified economy”, he emphasized.