To fully realise the gains of economic zones, an investment of about $22 billion is required in Delta and other states of the federation to revamp the sector, the Managing Director of the Nigeria Export Processing Zone Authority, Prof Adesoji Adesugba, has said.
The NEPZA boss stated this on Wednesday in Abuja at the official licence presentation ceremony of the Delta State Special Economic Zone to Governor Ifeanyi Okowa. The event attracted eminent personalities particularly officials of the Delta State government.
In his remarks, Prof Adesugba called for massive investment in the sector, noting that some countries are already addressing their developmental challenges by harnessing the huge advantages in their economic zones.
He said, “Everybody is talking about Lagos. In Lagos, there is $22 billion investment in free zones and we believe that we can replicate what is happening in Lagos in Delta and other states. Delta State stands to gain and is well-positioned. All it needs is that leadership; the vision which Governor Okowa has shown, and we are praying that whoever is taking over from him will key into this and make sure that we actualize this. NEPZA is willing and capable of giving you all the necessary support.”
Lead consultant of the Delta Special Economic Zone and former Minister of Justice, Adetokunbo Kayode, in his brief address, commended Governor Okowa for the initiative, noting that Delta State would reap bountifully from the scheme in years to come.
“The essence of having a special economic zone goes beyond the free zones that we have in Lagos and Ogun states. The special economic zone gives a dynamic platform for Delta State to harness its huge opportunities, especially in petrochemicals and agriculture. It can become a hub for manufacturing across the board and I think the state is well placed for this,” he said.
Speaking shortly after receiving the licence on behalf of the state, Governor Okowa spoke of the economic advantages that await the people of the state saying, “We are in a hurry to get the Special Economic Zone work for Delta State and for Nigeria, and we also realise that it will create advantages in our state because we produce a lot of gas. We also produce a lot of oil. We are very much involved in agriculture, and putting up these things together, I believe that we are set for this nation and for the world.”
He expressed readiness on the part of the state government to partner with NEPZA to fully develop her economic zones even as he pledged that the incoming administration will continue with the scheme even after the end of his tenure on May 29.
