Free Trade Zones in Nigeria Draw $46.4 billion in Investment.

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The Nigerian economy received over $46.6 billion in investment thanks to free trade zones. Adesoji Adesugba, the managing director of the Nigeria Export Processing Zones Authority, and Tijjani Kaura, his counterpart from the Oil and Gas Free Zones Authority, made these remarks in Abuja at the celebration of the 30th anniversary of Nigeria’s free trade zone program.

Thanking the government of President Muhammadu Buhari for approving the creation of six Special Economic Zones and designating four international airports as Free Trade Zones in 2021.

Women will be involved in Ogun-Guangdong free trade zone according to the Board. The revamping of Olokola Free Trade Zone by Governor Abiodun LCCI backs initiatives to increase investment in free zones.

Adesugba pledged that NEPZA would continue with its reforms to position the scheme for global competitiveness. On his part, Kaura said oil and gas free trade zones attracted over 200 companies with over 16.6 billion dollars.

Punch

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