Business

NEPZA targets $22bn investment from Delta special economic zone

The Nigeria Export Processing Zones Authority (NEPZA) says it is targeting $22 billion investment from Delta State as a special economic zone.

The NEPZA Managing Director, Prof. Adesoji Adesugba, made this known at the presentation of licence to the Delta Special Economic Zone (DSEZ) in Abuja on Wednesday, April 26.

While commending the state government’s efforts in reactivating the free trade zones scheme, Adesugba restated NEPZA’s commitment towards supporting full implementation and the success of the project.

According to him, the Free Trade Zones scheme has been able to turn the tide of economic development in different nations.

“We need to be very competitive and that is why NEPZA is very happy to be working with you.

“Everybody is talking about Lagos. There about $22 billion investments in free zones in Lagos and we believe that we can replicate what is happening in other states.

“Delta stands to gain, it is well positioned and all it needs is that leadership and vision which you have shown and we pray that your successor will key into this and ensure we actualise it.

“NEPZA is willing, ready, and capable to give you all the necessary support,” Adesugba said.

While emphasising the need for the Nigerian market to be more competitive, the NEPZA boss said the free trade zones scheme turned the tides of economic development of different nations.

Also speaking, the consultant for the project, Dr Kayode Adetokunbo, noted the importance of the project which includes creating job creation for the teaming Nigerian youth among others.

Adetokunbo said the state government invested heavily on peace and security, capital investment, health, education, and has created the enabling environment for business to thrive.

“The opportunities are eminent; Delta is relatively safe and set for business,” he said.

On his part, Delta State Governor, Ifeanyi Okowa, commended the NEPZA boss for his commitment and support towards realizing the licence for the project, while calling for more collaboration.

Okowa said Delta State as a great advantage as it produces a lot of gas and oil, adding: “We are also very much involved in agriculture, and putting all these things together, I believe that we are set for this nation and for the world.”

The governor stated that in spite of the challenging times and troubles in many states of the nation, Delta State was relatively peaceful and has provided an enabling environment for businesses to thrive.

“We are ready for the partnership, not only with NEPZA but with the rest of Nigerians, particularly the organised private sector and the global community.

“And we are there as a state to ensure that we are able to provide a competitive, peaceful, and welcoming environment.

“We will work with the rest of Nigerians to ensure that we are able to develop the human capital which will also be needed for the growth of industries.

“I believe that we are ready to ensure that this special economic zone works for all,” he added.

The Star