Close Menu
The Reporters
  • Home
  • News
  • Politics
  • Crime
  • Health
  • Features
  • Economy
  • Environment
  • Entertainment
  • Business
  • Technology
  • Education
  • Sports
  • Tourism
  • Judiciary
  • Judiciary
  • Foreign
  • Agriculture
  • Religion
  • Weather
  • Banking
  • Labour
  • Faith
  • Advertisment
Facebook X (Twitter) Instagram
  • Home
  • Lifestyle
  • Travel
  • Buy Now
Facebook X (Twitter) Instagram Pinterest Vimeo
The Reporters
  • Home
  • News
  • Politics
  • Crime
  • Health
  • Features
  • Economy
  • Environment
  • Entertainment
  • Business
  • Technology
  • Education
  • Sports
  • Tourism
  • Judiciary
  • Judiciary
  • Foreign
  • Agriculture
  • Religion
  • Weather
  • Banking
  • Labour
  • Faith
  • Advertisment
Subscribe
The Reporters
Business

NEPZA boss hails FG, Sunbelt FZE over N 1.5 billion investment in KFTZ

AdminBy AdminJanuary 22, 2021Updated:January 22, 2021No Comments2 Mins Read
Spread the love

By Dada Ahmed

(Abuja)

The Managing Director/Chief Executive Officer of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba,has described the N1.5 billion investment brought into the Kano Free Trade Zone to maintain the zone as an investors’ attractive anchorage.

This is contained in a statement signed by Martins Odeh,Head, Corporate Communications in Abuja, a copy of which is made available to The Reporters on Wednesday.

Prof. Adesugba noted that Sunbelt Free Zone Enterprise brother the investment as an offshoot of sustained intervention by the Federal Government

He made the remark when he played host to the Executive Director and one of the promoters of the enterprise, Alhaji Murtala Jega on Thursday in Abuja.

The online publication recalls that Sunbelt, which specializes in the manufacturing of fabrics and textiles, was licensed on December 12, 2019 as a partnership firm owned by four Investors, comprising three Chinese and a Nigerian.

The NEPZA Chief Executive explained that the Authority and the Ministry of Industry, Trade and Investment had so far collaborated seamlessly in executing President Muhammadu Buhari’s directive on using the scheme to generate employment for the country’s teeming youth population.

According to him, when operational, Sunbelt has the capacity of engaging 3000 direct and indirect labour.

“We are happy with this feat. This is the kind of investment the Federal Government is expecting us to sustain.

“It is the Authority’s desire at this stage to position Nigeria for competitiveness in order to benefit maximally from the new Africa free trade regime made possible by the African Continental Free Trade Zone Agreement(ACFTA).

“It is our fervent prayer to diligently work within the purview of the mandate of actualizing the country’s industrialization. In doing this, we shall not disappoint the president and the nation,” Adesugba said.

On the N1.4 billion approval given by the Federal Executive Council on Wednesday for the upgrade of electricity facilities at the Calabar Free Trade Zone, Adesugba said the development was a genuine disposition of President Muhammadu Buhari’s commitment to use the zone scheme as one of the key drivers of the nation’s economy.

He also acknowledged that similar overture had been extended to the Kano zone for upgrade of the zone’s electricity to 25 Megawatts scalable to 150 megawatts as the need expands, adding that the two public zones had the capacity to scale up local production significantly when fully supported.

Visited 4 times, 1 visit(s) today
Previous ArticleSOME NIGERIAN NEWSPAPER HEADLINES, 22/01/2021
Next Article Driver converts erroneous money to personal use, lands in jail
Admin

Related Posts

Dangote Group Unveils Tech, Trade Push to Spur Growth in Kogi, Nasarawa

May 4, 2025

Niger State, Overland Airways Launch Daily Flights From Minna to Lagos, Abuja

April 19, 2025

Fuel Price Relief Expected as FG Extends Naira-for-Crude Oil Deal

April 10, 2025

Leave A Reply Cancel Reply

Recent Posts
  • Photospeak: The 2025 Owiya Osese festival in Magongo.
  • DISREGARD FRESH POST OF 2022 RALLY AS HANDIWORK OF CONFUSED, WITLESS DETRACTORS – YAHAYA BELLO MEDIA OFFICE
  • TMV lauds Alake for reviving Nigeria’s mining sector as the ministry raises N6.7bn from license fees
  • Law Schools Must Equip Future Lawyers for Social Change Says,Urges Curriculum Reform
  • NCC Boss in Ghana
© 2025 The Reporters. Designed by Domo Tech Media .
  • Home
  • Contact Us
  • About Us
  • Posts
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.