The challenges, including infrastructure deficit, limiting the effectiveness of Free Trade Zones in Nigeria have attracted the attention of industry experts and stakeholders who have urged government to take action.
They expressed concern over the situation at a workshop on the promotion and development of FTZs across Nigeria held in Abuja, tagged “ “Creating awareness on the activities of the Free Zones in order to stimulate investment in the sub-sector”.
“Lack of synergy between Government Agencies, ignorance of the activities of these regulatory Agencies by stakeholders and inadequate infrastructural facilities amongst others,” they itemised in a communiqué as other challenges.
“Government should address the challenges that are hindering the effective development of the Free Trade Zones by ensuring synergy between Government Agencies, sustained sensitization on the benefits of investing in the Free Trade Zone as well as the provision of adequate industrial infrastructure in the Zones.’’
They observed that there was the need to review the operations and regulation of the FTZs to achieve its objectives and a need for collaboration among key stakeholders to ensure the success of the zones in the country.