(Abuja)
The Managing Director of Nigeria Export Processing Zones Authority (NEPZA), Professor Adesoji Adesugba, has assured operators of free trade zones in the country of an active and result oriented stakeholders’ engagement.
In an interactive zoom meeting with more than 30 Chief Executive Officers of free trade and special economic zones in the country, Adesugba noted that the challenges facing efficient operations of the zones could only be resolved by productive engagement among agencies with mandate touching on the sub-sector.
“I understand all the knotty issues you are facing. I am committing myself to a well structured interaction and collaborative partnership with the Customs service, Immigration, FIRS and all sister agencies to iron out outstanding issues.
“Our first task is to go back to the basics of why the FTZs and SEZs were set up in the first place. We will then proceed to reviewing why the FTZs and SEZs must work at this critical time of looming economic recession.
“It will also interest all stakeholders to note our operating environment now with the imminent coming into force of AFCTA and associated stiff competition for Foreign Direct Investment.
“The zones must work because Nigeria must manufacture and produce goods for export now more than any other time. In a free trade regime, you must export goods or you become a dumping ground.
“For us to manufacture, we must enable investment by creating the right climate. If we do not create enabling environment, investors will head to other jurisdictions’’.
“More critically, we need the zones to create jobs and escape the building time bomb created by deepening unemployment. So we have good reasons why other stakeholders must listen to resolve the operational challenges facing the FTZs and SEZs’’, Adesugba said.
While also urging operators to play by the rule, the NEPZA Chief said it was incumbent on all to observe corporate governance and transparency, adding that such best practice could make the sector become even more attractive.
The operators, who spoke separately during the webinar, expressed relief that the President appointed an all-round professional who had theoretical and practical understanding of the sector, noting that they were elated the management was now led by an Industry player.
The operators listed their challenges to include taxation burden, multiple regulatory structures, offshore banking issues, infrastructure deficit among others.
The NEPZA management, according to Martins Odeh,Head, Corporate Communications, NEPZA agreed to be holding a quarterly review meeting to resolve operational challenges.
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