The Nigeria Export Processing Zones Authority (NEPZA) has sought and secured NIPC's partnership to accelerate investment into Nigeria's 41 Free Trade Zones. NEPZA's Managing Director, Prof. Adesoji Adesugba, formalised the collaborative arrangement during a courtesy visit to NIPC's Executive Secretary, Ms Yewande Sadiku, on 7 July 2020.
Prof. Adesugba said it was imperative for the two agencies to work together more robustly, describing the partnership as "the antidote to the several encumbrances hindering the smooth operations of the country's free zone scheme." He stated that the strategies for industrialising the country must be people-friendly, emphasising the need to know stakeholders closely and respond to their needs.
"This is the core mandate of both NEPZA and NIPC. The two agencies have been carrying out this onerous function and this is why we need to work more closely to ensure the country continues to entice investments into those trade locations," he said. He also called for a change of approach as Nigeria positions to attract a substantial share of global investment in the post-COVID-19 competitive landscape.
Prof. Adesugba, who previously served as a Director at NIPC, noted that "NEPZA is more than ever before prepared to leverage the NIPC platform to commence an aggressive investment drive." He emphasised the need for all government agencies involved in free trade zones and special economic zones to work collaboratively with the private sector.
In her response, Ms Sadiku expressed delight at Prof. Adesugba's appointment and vowed to support NEPZA in igniting the right approaches to attract and retain investors. She affirmed that NIPC is ready to support NEPZA and stressed that such inter-agency partnership is essential for Nigeria's industrialisation agenda.
