NIPC has signed a one-year partnership agreement with Enyimba Economic City Development (EECD) Company to profile and showcase the Enyimba Economic City (EEC) project. The EEC is a 9,464-hectare Special Economic Zone planned to connect 11 states of the South-East and South-South of Nigeria, including Abia, Anambra, Ebonyi, Enugu, Imo, as well as Akwa Ibom, Bayelsa, Cross River, Delta, Edo, and Rivers States.
NIPC's Ag. Executive Secretary/CEO Mr Emeka Offor expressed the Commission's readiness to jointly work with EECD to generate leads and engage prospective investors. CEO of EECD Mr Darl Uzu signed on behalf of EECD and disclosed that the project will leverage world-class infrastructure to become a global business hub. Investor incentives in the EEC include a complete tax, rates and levy holiday from all levels of government; duty-free importation of capital goods and raw materials; 100% foreign ownership; 100% repatriation of capital, profits and dividends; and a waiver on all import/export licences and expatriate quotas.
The project, estimated to cost over US$430 million, follows earlier exploratory meetings between NIPC, EECD, and EZDA (a global economic zone advisory firm) earlier in 2022.
