Printer Friendly

Nigeria targets US$15b investment in free trade zones.

The Nigerian government is projecting investment worth US$15 billion in the Free Trade Zones (FTZs) across the country in the next five years, according to the Chief Executive Officer (CEO), Nigerian Export Processing Zones Authority (NEPZA), Mr. Gbenga Kuye.

"Today, we have attracted about US$9.4 billion investment into all the free zones. This is without the US$1 billion investment that we got through General Electric in Calabar Free Trade Zone recently,'' the local media Friday quoted the NEPZA boss as saying in the capital city of Abuja.

''However, for the next five years, we have a projection of attracting investment of about US$15 billion into all our free zones,aACA[yen]he said.

Nigeria currently has 25 free trade zones, out of which nine are fully operational, six are under construction while four are at the design stage. Six others are yet to take off.

Mr. Kuye said NEPZA was vigorously reviewing the processes of granting approval and licences to free zones across the country, stressing that mechanisms were being put in place to revamp or close down the free zones that were not economically viable.

Copyright - AFRICAN MANAGER - 2013 - All Rights Reserved

Provided by an company

COPYRIGHT 2013 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:African Manager
Geographic Code:6NIGR
Date:Jul 5, 2013
Previous Article:First Indian Ocean regional Economic, Business ministerial confab underway in Mauritius.
Next Article:Minister bemoans rising unemployment cases in Nigeria.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters