NEPZA To Support Knowledge-Based Economic Zone In Ekiti

By Ossom Raphael

L-R: MD – NEPZA, Prof. Adesoji Adesugba and Ekiti State Gov. Kayode Fayemi

The Nigeria Export Processing Zones Authority (NEPZA) has thrown its weight behind the establishment of a knowledge-based and agricultural special economic zone in Ekiti State.

The Managing Director of NEPZA, Prof. Adesoji Adesugba, said the licensing of the proposed economic zone by the agency will bring about rapid industrialization in the state.

Prof. Adesugba said this when he received Ekiti State governor, Kayode Fayemi in his office on Friday at the weekend.

In a statement by the Head, Corporate Communications of NEPZA, Martins Odeh, Adesugba stated that special economic zones remain the best bet to fast-track rapid economic development in the country.
“For us to be really industrialised, we have to go down to the basics, down to the local government, down to states.

“While the Federal Government will continue to assist and develop policies that will turn states to develop in terms of industrialisation, we should leverage on the special economic zones and free trade zones as have been successfully used in places like China, Dubai, Ethiopia and Turkey’’, the NEPZA boss said.

Adesugba further explained that it was evident that the governor had a clear understanding of how to utilize the strategy of the special economy zone to deepen the industrialisation of the state, adding that the Authority was open to supporting the process.

“Your Excellency, we have the possibility of having young people coming up if we can set up and have the environment with government supporting, ensuring that the necessary incentive are in place, the right infrastructure is put together and we make it a place of excellence and get other agencies to understand the import of what we are doing.

Earlier, Governor Fayemi, emphasised the importance of NEPZA in the country’s quest to attract investments, local production, industrialization as well as Foreign Direct Investment (FDI).

“We all talk about Foreign Direct Investment (FDI) all the time, we all talk about creating an enabling environment, but to ensure that these happen, we must think outside of the box in order to drive the process in our localities. It is indeed crucial that we recognise and disaggregate those investments in terms of sub-national opportunities at the state level.

“There are other types of economic and free trade zones that NEPZA are licensees and authorizes but a service zone that is based on knowledge is not common and for us in Ekiti, that is what we sell’’, Fayemi said.