The Nigeria Export Processing Zones Authority’s, NEPZA, commitment to lure more sub-national governments to key into the Free Trade Zone scheme is yielding the required result with the Osun State Government as the latest seeking the Authority’s intervention to resuscitate its moribund Living Spring Free Trade Zone.
Rev. Bunmi Jenyo, the Osun State Commissioner for Commerce and Industry led a team to visit the Authority to discuss the modalities on the revitalization process on Thursday in Abuja.
Jenyo stated that His Excellency, Gov Ademola Adeleke’s administration had prepared the business environment in the state to support the re-activation of the state-owned Free Trade located in Abere.
The commissioner explained that the governor was eager to reverse and nurture all positive economic policies of past administrations to reposition the state for economic greatness.
“His Excellency, has keenly watched with admiration the positive impact of the country’s Free Trade Zone scheme on the economy under the management of Prof. Adesoji Adesugba. He hopes to cash-in on this development and make Osun viable for Foreign Direct Investments (FDI).
“The governor has asked me to come ahead of him and prepare the grounds for a formal visit to strike this deal. The state is more than ever before ready to use the free zone to drive its economy,’’ Jenyo said.
“Prof. Adesoji Adesugba, MD/CEO of NEPZA expressed delight that more state governments were beginning to embrace the free zone scheme, adding that the Federal Government’s intention to site the scheme in all the 774 Local Governments remained intact.
“Adesugba further said that the success of the scheme largely rested with its acceptance by the state governments, pointing that there was a huge knowledge gap across the country on the essence of the scheme.
“Since my assumption of office in 2020, we have committed huge energy and resources in sensitizing policy-makers, State Governors, industry players, and relevant Agencies of government on the law and global rules guiding the operation of the scheme.
“I am happy, that the effort is paying off. We can only hope that all the state governments can leverage on this free gift to stimulate productions in their various catchment areas. NEPZA is, however always prepared to provide expertise and also assist in attracting both local and foreign investments to zones under its care and management.
“Extend my regards to His Excellency, the Governor, and inform him that we are counting on the state’s resolve to revamp the Living Spring Free Trade Zone which is completely moribund. The earlier this is done, the better for all of us,’’ Adesugba said. OYO NEWS