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THISDAY Monday 19 September, 2011
The Managing Director and Chief Executive Officer of the Nigerian Export Processing Zones Authority (NEPZA), Dr Sina Agboluaje, at the weekend described free trade zones as major vehicles to drive the economic development of the country.
Also the Chief Executive Officer, Airline Services and Logistics Plc (ASL) Mr Richard Akerele, reiterated the need for Nigeria to increase its non-oil export base over the coming years in order to successfully diversify the economy.
The experts stated this at the Free Trade Zone Conference and Exhibition (FTZ Nigeria 2011) which was held in Lagos. The NEPZA exhibition was held to showcase the opportunities available for Nigerian companies through free trade zones. There are currently 24 free trade zones in Nigeria, with only 15 operational. The first was established in Calabar in 1993, and there are over 70 companies currently trading through it.
Agboluaje said: "Free Trade Zones are a tried and trusted catalyst for sustainable economic development and will form a key part of our strategy for increasing trade and investment in Nigeria as well as promoting exports."
Akerele announced plans by his firms to produce Nigerian foodstuffs for export through a new dedicated shop at Murtala Muhammed International Airport, Lagos. He maintained that the initiative would make it easy for Nigerians to take their favourite products away with them easily and conveniently as well as allowing tourists to share local delicacies with friends and families.
