NEPZA, NIPC ponder pact on investments’ migration

The Nigeria Export Processing Zones Authority (NEPZA) and the Nigerian Investment Promotion Commission (NIPC) are considering partnership that will migrate huge investments to the freshly approved Special Economic Zones in Lagos, Kwara and Katsina states.

NEPZA’s MD/CEO, Prof. Adesoji Adesugba, and the NIPC executive secretary, Ms. Yewande Sadiku, according to a statement issued Wednesday in Abuja by the Authority’s head of corporate communications, Martins Odeh, agreed on the partnership when the former paid the latter a courtesy visit Tuesday in Abuja.

It indicated that Adesugba said efforts were being made to use the special economic zones to stimulate genuine economic activities across the country, adding that a synergy with NIPC would help to migrate the desired local and international investments to those zones. 

He said, “We are also hopeful that the medical free trade zone will be a convergence of world-class hospitals, pharmaceutical companies, aged homes, hotels and medical based research institutes. This enclave when operational would retard the migration of medical professionals abroad.

“The Authority has in the last one year under my watch adopted a few innovations to assist the workforce to execute our mandate. These include restructuring of the directorate cadre; establishment of health and safety unit; establishment of NEPZA security outfit; establishment of special economic zones’ Association; establishment of Alternative Dispute Unit among others.”

Adesugba added that President Muhammadu Buhari had great expectation that the Authority would fast track the country’s industrialisation, adding that the management team and the entire work force appreciated the huge investment the federal government had so far made to upscale the potentials of the agency.

In her remarks, the statement indicated further, the NIPC boss noted that Adesugba was an investment promotion guru with long years of experience, adding: “I am not surprised with the high level of successes recorded so far within your 12 months of being the MD of this important establishment.”