NEWS

Lawmakers, NEPZA partner on creation of free trade zones

NEWSMAN, Abuja – Acting Chairman Senate Committee on Industry, Trade and Investment, Senator Francis Fadahunsi has assured the Nigerian Export Processing Zones Authority (NEPZA) of support on establishment of more free trade zones in the country.

During a visit by the team to the NEPZA Managing Director (MD) Adesoji Adesugba in Abuja, assured that the committee will support such initiative as long as it will provide opportunities for youths to be gainfully employed.

Fadahunsi explained that the National Assembly is ready to back NEPZA as such development will help to subdue the high crime rate in the country.

He also added that NEPZA is one of the pillars of the country, and that as soon as NEPZA starts these good foundations, others will follow. He also charged the MD to synergies with other agencies to achieve this great task.

The Acting Committee Chairman said, the committee is ready to work with the executive arm and by extension the Authority to ensure whatever laws NASS will amend to assist the agency will bring innovation that will make them do things differently.

NEPZA MD in his statement said the role of the Senate in helping NEPZA reach its mandate is very critical, pointing that the National Assembly and the agency will be working closely to ensure NEPZA meets its target in the nations industrialization, The nation reported.

Adesugba said: “We are all part of the downturn in the global economy and that also which is affecting Nigeria, we are looking in-house at the possibilities of NEPZA being a catalyst to propel the economy from where it is now.

“The negative impact of the prevailing hash economic outlook brought by the Covid-19 pandemic could be quickly ameliorated using the strategy of free zone.”

The managing director further explained that “in this respect, we have looked at what is on ground especially the Special Economic Zones that the government had created and we intend to give it life for full operations to commence in those locations as this a sure way to create the much-needed employment and to spark genuine industrialisation.”

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