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Nigeria laying firm foundation for industrialization

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By Tanko Mohammed

Prof. Adesoji Adesugba, Managing Director of Nigeria Export Processing Zones Authority (NEPZA), has said the government was laying enduring solid foundation for the industrialization of Nigeria.

Mr Martins Odeh, Head, Corporate Communications of NEPZA, said in a statement on Friday that Adesugba made the remarks at global business audience via webinar at the 5th Annual Meeting of the Africa Economic Zones Organisation.

Adesugba focused his discussion on the Nigerian Special Economic Zones business case and provided the thought about how the scheme could serve the implementation of the African Continental Free Trade Area (AfCTA).

Adesugba, said the Dangote Industries Free Zone, Lekki, Lagos and a host of other private zones with a cumulative investment of over 20 billion US dollar provided the country with a firm foundation toward realizing its industrialization roadmap.

The NEPZA boss explained that the establishment of petrochemical industries, the fertilizer companies and Deep Seaports on economic zones had already attracted an inflow of over 20 billion US dollars for the nation.

“The Free Zones concept in Nigeria has come to stay and no matter how challenging the task might be, it is our conviction that within two to three years, some of these investments would come to fruition.

“The Nigeria’s story on using the zones to ignite production, to create jobs for our teeming youth, and to attract both Local Direct Investment and Foreign Direct Investment is positive and inspiring.

“There are challenges, but the political will to address those challenges is now certain. NEPZA as a regulatory body is assiduously committed to implementing the vision of the government in using the scheme to create wealth and prosperity for the citizens,’’ he said.

Adesugba said: “while tackling these challenges, the government is working to revamp and make the special economic zones project more possible so as to attract the needed investment to this part of the world.’’

The managing director reiterated that President Muhammadu Buhari had special conviction that NEPZA could power the country’s economic growth through the free trade zone scheme.

He added that such conviction again was displayed with the recent approval and designation of six economic zones across the country.

“NEPZA is, however, set to start the development of three of those zones in 2021 with Public Private Partnership arrangement. So, interested investors from all over the world are welcome to join us in this initiative’’.

Adesugba stated that Nigeria was on the verge of   unveiling its maiden Medical Special Economic Zone next year, adding that a special business area for world class hospitals and pharmaceutical industries would reduce medical tourism which encouraged huge capital flight abroad.

“The medical is important especially in this era when the nation and other nations in the world are battling with the Covid-19 pandemic and the attendant negative effects on both Africa and global logistics’’, he said.

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Speaker urges Nigeria to use free trade zones to spur industrialisation

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By Chris Ndibe

Mr Femi Gbajabiamila, the Speaker of House of Representatives, has advised Nigeria to ramp up industrialisation through the free trade zones to survive the African Continental Free Trade Area (AfCFTA) regime.

Gbajabiamila gave the advice on July 8, 2020 when he received the visiting the newly appointed Managing Director of Nigeria Export Processing Zones Authority , Prof. Adesoji Adesugba.

Her said that Nigeria faced enormous challenge ahead of the AfCFTA in the areas of manufacturing and industrialisation and observed that, “we must act proactively so that we don’t become a dumping ground for other African nations’’.

“Our best option in this circumstance is to immediately set machinery in motion to ensure the effective functioning and flourishing of our Export Processing Zones.

“We must remove all bottlenecks and perfect all stumbling blocks. We will then be fully prepared for AFCTA and also generate massive jobs for our unemployed youth and enhance our foreign earnings,’’ the Speaker said.

He pledged the support of the legislature for the revitalisation of the free trade zone insisted that “as things stands today, we have no choice than to make the free trade zones function productively’’.

“How can we compete successfully in a post -Covid-19 world and under AFCTA regime? How can we ensure a sustainable recovery from the pandemic? How can we make Nigeria the number one investment destination?

“It is mainly by boosting our manufacturing and export capacity, the twin tasks the Export Processing Zones are set up to achieve. We in the legislature will provide legislative and budgetary support to NEPZA to achieve its mandate.

“I am particularly elated that President Muhammadu Buhari fished out and appointed a seasoned investment professional as the Managing Director of NEPZA.

“Mr President made the right choice and I personally convey our appreciation to Mr President for this. I know the new MD very well, his passionate commitment to the sector is never in doubt and his readiness to deliver is well known within the Industry. I urge the new MD to put on his innovative cap by driving the robust functioning of the zones”, the House Speaker said.

Responding,  Adesugba expressed appreciation of NEPZA for the pledges of support from the House Speaker , noting that such back up will spur him and his team to squarely face the challenging task of enthroning a robust , job creating and wealth making FTZs.

“On behalf of NEPZA, I assure Nigerians that we will take the bull by the horn. We will ensure effective functioning of the zones to generate jobs, wealth and industrialisation in line with the cardinal goals of President Muhammadu Buhari.

“Honourable Speaker, we are setting to work immediately and we hope to prepare Nigeria for AFCTA by easing investment inflow into the zones.

“I passionately shared your views on the need for proactive action on industrialisation. We truly have no choice as a nation. For us at NEPZA, this is a national challenge and we are determined to discharge this mandate with deep sense of responsibility”, the NEPZA Chief, noted.

Tanzania: Tooku Garments Factory Set for Expansion

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TANZANIA Tooku Garments Company Limited, producing
clothing for the US market is set for expansion to increase production in order
to meet demand in the market.
Export Processing Zone Authority (EPZA) Director
General Joseph Simbakalia, said in Dar es Salaam over the weekend during the
tour of the students and staff from the National Defence College (NDC) the
garment factory operating at the Benjamin Mkapa Special Economic Zone, Mabibo
External is one of the success stories.
“Manufacturing for exports is considered
important in generating valuable foreign exchange as well as maintain a
competitive exchange rate,” he said during the tour. He said special
economic zones were increasingly becoming significant avenue in attracting new
investors, as well as touting industrialisation drive towards building strong
industrial economy.

He said the factory that employs about 3,000
Tanzanians is set for expansion in order to increase production. For example,
in the quarter ended September, more than 20 projects worth over 600bn/- were
registered. He said the NDC visits was significant because the country’s
security was closely linked with building strong economy particularly through
industrialisation.
He said the special zones are geographically
designated areas set aside in the country for specifically targeting economic
activities, with support through special arrangements, including laws and
systems, which are often different from those applied in other areas.
Also the special zones are part of an export oriented
development strategy, which can contrast with an important substitution
industrialisation strategy, where the aim is to produce goods that were
formerly imported.
Some of the special zones include the Bagamoyo SEZ,
which is a unique project in the region that will be developed into Industrial
Parks, Trade Parks, Technological Parks, Tourism Industry, Real Estates,
Logistics Centres, Financial Institutions as well as the construction of an
airport and a port.
Others are the Tungi SEZ in Morogoro, which is the
largest industrial, commercial and residential development project under SEZ
Investment Scheme developer by the private sector. The Mtwara Freeport Zone,
for service companies engaging in oil and gas exploration in Mtwara Region will
be developed by private financing.
Source: Tanzania daily news (dar es Salaam)