Special Economic Zone to revolutionise Sokoto’s economy – NEPZA

The Nigeria Export Processing Zones Authority (NEPZA) said it would deploy the Special Economic Zone (SEZ) Scheme to revolutionise the Sokoto State economic space.

Prof. Adesoji Adesugba, NEPZA’s Managing Director, made the remark while receiving the Certificate-of-Occupancy of 503.8 hectares of land for the proposed world-class special economic zone to be sited in the state from the state governor, Aminu Tambuwal.

Adesugba, in a statement by Mr Martins Odeh, Head, Corporate Communications, NEPZA, on Thursday, said the state had been deliberately positioned to attract the right investments.

He explained that NEPZA was aware of the great efforts put in to make Sokoto to occupy the second position in the recent national survey on “Ease of Doing Business” by the governor.

He added that the, state, through that singular effort had worked its way to becoming a global business hub.

Adesugba explained that the Federal Government was applying the scheme to yield the desired result, saying that the new NEPZA was assiduously pursuing its mandate of using the free trade zone to revolutionise the country’s business environment.

“We are convinced that with diligent application of the principles of the scheme, we shall have the same benefits as countries like China, Malaysia, Singapore, South Africa, Kenya and Egypt that have also greatly leveraged on this scheme.

“I am particularly enthused with the way and manner Egypt has greatly turned around its economy using this scheme.

“We are happy that Sokoto and some states in the country are now prepared to embrace this global economic innovative model that easily propels growth.

“We, therefore, congratulate the Sokoto Government and the good people of that state for joining the league of cities with special economic zones,” Adesugba said.

Tambuwal, earlier explained that business ecosystem of the state was now ready for exploitations by the private sector, adding that it was incumbent on the administration to stimulate commerce in greater measure for the benefit of the people.

He also said the collaboration with NEPZA to help drive Sokoto’s industrialisation through the zone scheme was remarkable, as the proposed Sokoto State Economic Zone when fully operational would improve all growth and development indices.

The highpoint of the event was the agreement by parties to set up an implementation committee for the take-off this laudable project.