The Nigeria Export Processing Zones Authority (NEPZA) says it is diligently deploying the Special Economic Zone Scheme to revolutionize the Sokoto State economic space.
The Managing Director, NEPZA, Prof. Adesoji Adesugba who made the remark while receiving the Certificate-of-Occupancy of 503.8 hectares of land for the proposed world-class special economic zone scheme to be sited in Sokoto State from governor Aminu Tambuwal on Wednesday in Abuja, said the state had been deliberately positioned to attract the right investments, adding that investments could only locate where they were welcomed.
He explained that NEPZA was aware of the laudable efforts put in place which earned Sokoto State a second position in the recent national survey on “Ease of Doing Business” by governor Tambuwal-lead government, adding that the state, through that singular effort had worked its way to becoming a global business hub.
The Director General explained that the Federal Government was applying the scheme to yield the desired result, saying that the new NEPZA was assiduously pursuing its mandate of using the free trade zone to revolutionize the country’s business environment.
He said, with diligent application of the principles of the scheme, Nigeria would have the same benefits as countries like China, Malaysia, Singapore, South Africa, Kenya and Egypt that have also greatly leveraged on the scheme.
He said he was delighted, particularly with the way and manner Egypt has greatly turned around its economy using this scheme.
“We are happy that Sokoto and a number of states in the country are now prepared to embrace this global economic innovative model that easily propels growth,” he said. He commended the government and people of Sokoto State for joining the league of cities with special economic zones.
In his remarks, Governor Tambuwal, explained that the business ecosystem of the state is ready for exploitations by the private sector, adding that it was incumbent on his administration to stimulate commercial activities in greater measure for the benefit of the people.
He also said that the collaboration with NEPZA to help drive industrialization of the state through the zone scheme. According to him, the proposed Sokoto State Economic Zone when fully operational would improve all growth and development indices.
The highpoint of the event was the agreement by parties to set up an implementation committee for the take-off the project.