NEPZA set to attract Post COVID-19 investment to Nigeria-Adesugba

The Nigeria Export Processing Zones Authority, NEPZA has said it would position Nigeria to grab substantial portion of world’s investment in post Covid-19 pandemic era.

The Managing Director of NEPZA, Prof Adesoji Adesugba, also said the world is going to be seeking investments after the pandemic and the process would be highly competitive.

To achieve this, Adesugba requested a collaborative effort during a courtesy visit to the Nigeria Investment Promotion Commission (NIPC’s) Executive Secretary, Yewande Sadiku on Tuesday in Abuja.

He said that the aim of the visit is to spike influx of both local and International investors to the 41 Free Trade Zones strategically located in the Country.

Adesugba said it was vital for the two agencies to work together in a more robust fashion, adding that such partnership was the antidote to the several encumbrances hindering the smooth operations of the country’s free zone scheme.

“NEPZA is supposed to be on top of its game in terms of promoting investment. The strategies to industrializing the country as it is with other countries must be people friendly.

“This is the core mandate of both NEPZA and NIPC. The two agencies have been under carrying out this onerous function and this is why we need to work more closely to ensure the country continues to entice investments into those trade locations.

“Apparently over the years, we do not know what had happened to those locations. Those geographical entities by now should be leading the industrialization process because all the incentives are supposed to be there.

“The collaborative efforts we are going to have with NIPC would be magnetic and very inclusive. We understand, that NIPC has the mandate to assist us attract and maintain investments by supporting our service delivery process.

“Ordinarily, NIPC should be the watchdog to ensure that other agencies under the supervision of the Ministry of Industry, Trade and Investment are positioned to comply with best global industry practices.

“We are therefore, seeking the cooperation of the Executive Secretary of the commission to carefully monitor us so that the Authority meets the basic tenets of investment promotion,”he said.

 On her part, Sadiku lauded appointment of the new NEPZA boss.

She said he is a proven technocrat with the right wealth of knowledge to carry NEPZA to the zenith.

The NIPC boss also said he would support the authority to ignite the right approaches to attract and maintain investors, adding that NEPZA had a great platform to drive the country’s industrialization to expected end.

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