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HomeBusinessNEPZA Mulls Incentives, Loans for Enterprises in Free Trade Zones

NEPZA Mulls Incentives, Loans for Enterprises in Free Trade Zones

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Prof. Adesoji Adesugba, Managing Director, Nigeria Export Processing Zones Authority (NEPZA), says the agency is considering incentives and loans for enterprises operating in Free Trade Zones (FTZ) in the country.
Adesugba stated this in the sideline of a two-day familiarisation tour of the FTZ Kano on Wednesday.
He noted that the concept of the FTZ was to make factories competitive within the sovereignty of Nigeria.
The Managing Director said: “The whole idea is to cut transportation of goods from foreign countries into Nigeria. In Free Trade Zones, we have incentives such as turfs, duty free for goods entering the zones for production process and provision of infrastructure in terms of energy, good roads and warehouses. And Nigeria will not exempt from trying to attract investment in FTZ, the Federal Government is concentrating on providing standard infrastructure that can compete anywhere in the world. The current administration is paying attention to developing the infrastructure in FTZ and we can see that from the experience of Kano Zone. Most of the companies we visited in FTZ Kano are full of praises even though we have not reached there.”
Adesugba disclosed that NEPZA would soon embark on procurement process to boost power supply in the FTZ across the country.
He said the Agency was also working to upgrade water supply through the provision of adequate pumps to the industries in the Kano zone.
The Managing Director added that the Agency would work in collaboration with the Kano State Government to supply water to the zone from the Kano Water Board.
“NEPZA is to improve on infrastructure of the group network and residences for the investors which are expected to be completed soon. We hope to continue to improve on the facilities in the free zones so that the FTZ in Nigeria can be seen as up to the international standard. The Federal Government is more particular about ensuring that all the basic things needed are available in all the FTZ administered by NEPZA”
Commenting further, Adesugba said security was critical to the operations of the FTZ, adding that proactive measures had been evolved to secure the zones to attract investors.
He said the Agency would provide additional accommodation and other facilities to improve the wellbeing of security personnel in the zones.
Adesugba inspected ongoing construction of the investors’ residence and other viable projects as well as some industries in the FTZ Kano.
Some of the Enterprises visited include: Saby Foods; AFRI Packs, YES Plastic, TOP FRANK FTZ, MUFEX Wires and Cables Limited and MARSHALL Biscuits.
Mr Sulaiman Tanko and Abdullatif Gujba, Managing Directors of AFRI Packs and YES Plastic, respectively, commended Adesugba for the visit.
They also urged the Agency to address epileptic power supply in the zone to enhance their operations.

See also  Kwara Boosts Free Trade Zone, Supports NEPZA
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