FG Considers Blueprint To Reposition Free Trade Zones

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Trade Zones – PUNCH

AUGUST 05, 2021

 

BY  Amarachi Orjiude

The Federal Government has called on stakeholders in the private sector to invest in the country’s Free Trade Zones to reposition the sub-sector as an instrument for economic growth and diversification.

The Permanent Secretary of the Ministry of Industry Trade and Investment, Nasir Gwarzo, made the call on Wednesday at a one-day sensititisation awareness workshop themed ‘Creating awareness on the activities of the Free Zones in order to stimulate investment in the sub-sector’.

He also stated that the decisions reached at the workshop, which brought together various experts and stakeholders in the industry would be used to produce a blueprint for stakeholders’ action plan on repositioning free trade in Nigeria.

He said, “At this juncture, I wish to call on the private sector to key into the enormous opportunity that is accruable with investment at the Free Trade Zones.

“The challenges are no doubt very daunting but equally surmountable. With your support and resilience, we would be able to offer the best to the world through the development of the various sectors of our economy, using the right technology as well as conforming with the rules and best practices.

“I would like to commend the participants in this workshop and wish to let them know that their valuable contributions will help to produce a blueprint for stakeholders’ action plan.”

Similarly, the Director, Commodities and Export Department of the Ministry, Suleiman Audu, stressed the need for the involvement of the private sector in the management of FTZs, adding that this would enable the country maximally harness the inherent potential in the sub-sectors, drive job creation and increase non-oil trade.

Audu further cited studies that prove that private management of FTZs facilitate economic growth.

– Punch

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