FG To Build Special Economic Zones

The Nigerian government says it has plans to create special economic zones in some states to drive the industrialisation target of the nation.

President Muhammadu Buhari said this at the opening of the 2017 Lagos International Trade fair with the theme “promoting industrialisation for economic recovery and sustainable growth”.

The President, who was represented by the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah said the economic zones would be structured to provide all necessary infrastructures needed to make industries thrive and contribute meaningfully to the nation’s GDP.

“We’re working with Lagos state, we are working with other states in the country to make sure that these zones demonstrate what are needed, where you see infrastructure, lower the cost of doing business, make regulations easy. We must show examples, there’s power in examples and by so doing,  I think the whole thing will catch up for the rest of the country”, he said.

Enelamah said the overall vision was to make Nigeria one of the easiest and most attractive places to do business.

The Governor of Lagos State, Akinwumi Ambode urged stakeholders to use the avenue of the International trade fair for collaboration towards enhancing economic growth.

Ambode represented by the Deputy Governor of Lagos State, Dr Idiat Adebule, said“the large turnout of participants, networking events and volume of transactions recorded yearly are testaments of the trade fair’s relevance in boosting national economic growth and recovery plans”.

The President of the Lagos Chamber of Commerce and Industry, Mrs Nike Akande, said that the theme of the fair was to underscore the critical importance of industrialisation in the nation’s economic recovery and diversification process.

Enabling Environment
She said it would also draw attention to the imperative of creating an enabling environment to attract new investments, grow existing ones and the necessity to build a sustainable economy.

“This is the time to focus more on the non-oil sector for diversification,”she said.

According to her, the non-oil economy is more inclusive and integrated, and is characterised by high economic linkages and above all, more sustainable.

The ten-day fair will end on November 12.

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