The Nigeria Export Processing Authority (NEPZA) has remained resolute on its mandate as a key player in pursuit of the nation’s economic development by striking a $1 billion investment deal in Niger State.
Managing Director of NEPZA, Adesoji Adesugba, disclosed this on Thursday while handing over an approved Free Trade Zone declaration license to officials of the investing company, Hydropolis Investment Limited in Abuja.
Adesugba, explained that the Authority was assiduously scouting for investment to assist both the Federal Government and the sub-nationals to bridge the country’s development deficits speedily.
He said that the Authority was enthusiastic in delivering an operative free trade zone license to Hydropolis Investment Limited, adding that the now Hydropolis Free Trade Zone occupies 2,000 hectares of land at Amfani Village in Magama Local Government in Niger State.
The NEPZA boss further disclosed that the new zone was set to commit over $1 billion to establish an Industrial Park, Smart City and a world class Cargo International Airport that would provide backward linkages for both local and foreign businesses.
He said that the development was another economic milestone as the zone was bound to positively impact on the country’s employment profile and Gross Domestic Product.
Similarly, Dr Abdulmalik Ndagi, Managing Director, Hydropolis Investment Limited, expressed satisfaction on the speedy approval of the licence by NEPZA, describing the zone as an ideal economic pivot for the entire country.
According to him, the zone will be a replica of Lekki Free Trade Zone in the North Central region of the country.
He further said that the strategic location of the zone close to the Kainji Dam gave it the desired edge, adding also that the business ecosystem had already struck a deal with the federal government to source its electricity from the Dam.
“We are sincerely indebted to the President, Muhammadu Buhari, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo as well as the NEPZA MD/CEO, Prof. Adesoji Adesugba for their efforts and magnanimity in ensuring this becomes a reality.
“As a business venture, we are promising to leverage on this confidence reposed on us to contribute our quota to the development of this great nation.
“Work has commenced in the location and we hope to roundoff the development of the internal infrastructure like road networks, offices, fencing, electricity before November when the president shall be inaugurating this world class business haven,’’ Ndagi said.
The Authority had a few days earlier, (July 8) secured an investment worth $100 million at the Medical/Pharmaceutical Special Economic Zone in Lekki, Lagos for the production of a variety of medical equipment, recalled a press release issued by NEPZA’s Head of Corporate Communications, Martins Odeh.