Economy

Kano Emir Bayero says EPZ will spur national industrial dev’t

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Emir of Kano, Alhaji Aminu Bayero, says effective utilization of the Export Processing Zone (EPZ) will accelerate Nigeria’s quest for industrial development.


Bayero stated this when Prof. Adesoji Adesugba, Managing Director, Nigeria Export Processing Authority (NEPZA), paid him a courtesy visit on Thursday in Kano.

The Emir, represented by Alhaji Muhammad Dankadai, the Sarkin Shanu of Kano, said that establishment of Free Trade Zone (FTZ) would encourage production, reduce importation and enhance wealth creation in the society.

Bayero said that it was not good for the investors to source for raw materials locally, export it for production in their countries and import to Nigeria.

He said: “I am committed to the principles and ideals of EPZ; it encourages production, reduce dependence on import and alleviate poverty.

“The important aspect we cherish most is for the investors to come, produce and export from our country.”

The monarch noted that operations of the EPZ would assist Nigeria to address economic challenges occasioned by the global COVID-19 pandemic.

Bayero pledged Kano Emirate Council support to the Agency to enable it achieve its objectives.

Also speaking, Adesugba said he was on a familiarisation tour of the FTZ Kano, to assess facilities and suggest ways of improving its operations.

Adesugba announced plans by the Agency to provide incentives and loans to woo foreign investments in the FTZ in the country.

He disclosed that the Federal Government had approved power projects to boost energy supply to enterprises operating in the FTZ Kano.

The Managing Director said the Agency would upgrade water reticulation system to enhance water supply to the enterprises and improved infrastructure as well as construct security and investors’ residence in the Kano zone.

According to him, the Federal Government accords priority to the development of the FTZ to fast track sustainable industrial, social and economic development in the county.

Adesugba said: “Free Trade Zone is the strategy used by many countries to industrialised themselves.

“The FTZ Kano can be used to showcase the possibilities in Nigeria, and we are working to see that it takes its rightful place in the African Free Trade Zone.

“The Federal Government is keen to use the FTZ to attract foreign direct investments in the country.

FTZ is important in attracting industries, hitherto operating in other countries, close to our borders or within our territory to stimulate transfer of technology, encourage competition and employment generation.”

Adesugba added that FTZ would protect Nigeria from becoming a dumping grounds for countries with strong base investments.

The News Agency of Nigeria reports that Adesugba had on Wednesday inspected facilities, ongoing projects and enterprises at the FTZ Kano.

Edited By: Ismail Abdulaziz (NAN)

https://nnn.ng/kano-emir-bayero-says-epz-will-spur-national-industrial-devt/

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