The Nigeria Export Processing Zones Authority (NEPZA) has expressed its readiness to approve the establishment of a knowledge-based and agricultural special economic zone in Ekiti State.
Managing Director of NEPZA, Prof. Adesoji Adesugba, said the licensing of the proposed economic zone by the agency will bring about rapid industrialization in the state.
Adesugba stated this when he received Ekiti State’s governor, Kayode Fayemi in his office on Friday in Abuja.
A statement by Head, Corporate Communications, NEPZA, Martins Odeh, quoted Adesugba as saying that special economic zones remain the best bet to fast-track rapid economic development in the country.
“While the Federal Government will continue to assist and develop policies that will turn states to develop in terms of industrialisation, we should leverage on the special economic zones and free trade zones as have been successfully used in places like China, Dubai, Ethiopia and Turkey,” the NEPZA boss said.
Adesugba said developing economies all over the world are leveraging trade and economic zone strategy to bring about industrialisation and urged state governors to key into the scheme.
On his part, Governor Fayemi, emphasised the importance of NEPZA in the country’s quest to attract investments, local production, industrialization as well as Foreign Direct Investment (FDI).