Home > Breaking News > NEPZA Licences Three New Free Trade Zones worth $2.751 billion

NEPZA Licences Three New Free Trade Zones worth $2.751 billion

 

The Nigeria Export Processing Zones Authority (NEPZA) has licensed three new Free Trade Zones (FTZs).

This announcement was made wednesday by its Managing Director, Emmanuel Jime.

In a statement signed by the Head, Corporate Communications of the agency, Simon Imobo-Tswam, NEPZA said it had secured for the country over $2.751billion in Foreign Direct Investments. (FDIs)

The new FTZs are Quit Aviation Services, Nasco Town FTZ and Tomaro FTZ.

Jime said apart from the juicy FDI in flows, about 50,000 direct jobs will be provided by the three FTZs.

“Under my stewardship, we have so far been able to licence three new industrial parks i.e. Nasco Town Free Zone, which is valued $2,086billion. It is estimated, at completion, to be able to provide 50,000 direct jobs.

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“The second is Quit Aviation Services Free Zone, valued at $215million, and is estimated to provide jobs in their thousands. And there is: Tomaro Industrial Park, in Lagos, valued at $450million. It would also provide jobs running into the thousands,” the statement said.

Jime said when he resumed office, he met staff who were low in morale in addition to other challenges including, inter-agency rivalry, delayed promotions and poor investor-confidence.

According to him, with the cooperative support of his management team, he had succeeded in making appreciable impact.

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He similarly described as false the claims that the authority padded its 2018 budget estimates, saying that NEPZA has neither padded her budget proposal nor inflated its personnel cost.

“It is true that the Personnel Cost in NEPZA’s 2017 budget is N638million and the proposed budget for 2018 is N710million, but it is grossly incorrect to insinuate or suggest that the budget was over bloated or state that ‘there is a N205million surplus discovered in the 2018 budget estimates of NEPZA.

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The statement clarified that Authority’s gross monthly salary figure is over N53million while staff pensions, PAYE, NHIS and other deductions are made at source at the Office of the Accountant-General of the Federation (AGF).

It said: “Personnel Costs of Government Agencies, NEPZA inclusive, are domiciled with the Office of the Accountant-General of the Federation (AGF), and NEPZA has no access to the fund as the staff are paid directly through the IPPIS.”

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