The Federal Government through the Nigeria Export Processing Zones Authority (NEPZA), on Wednesday said that it has secured the commitment of a group of private companies for investments worth billions of dollars in the country’s free trade zones’ scheme.
Managing Director of NEPZA, Dr Olufemi Ogunyemi announced this while receiving the promoter of a newly registered Industrial Platform Remo (IPR) Free Zone, the Arise Integrated Industrial Platforms (AIIP) in his Abuja office.
According to a statement by NEPZA’s Head of Corporate Communications, Dr. Martins Odeh, the NEPZA chief executive said that IPR is set with its funding partners to roll out in the free zones’ scheme.
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Dr Ogunyemi, during the meeting with the promoter of the IPR zones’ scheme on Monday, presented the Declaration Licence to the firm’s representative.
He said, “We are holding a significant event of presenting the Declaration Licence of the newly registered Industrial Platform Remo (IPR) Free Zone to the promoter and its partners.
“We have through due diligence found that the promoter and the partners have the financial muscle to immediately inject multi-billion-dollar into the Nigeria economy through the free trade zone scheme”.
“It is our hope, therefore, that the impact of this exploit will be positively felt by the citizens in no distant time as the promoter will ensure the placement of world-class enterprises across the country. We can only imagine the benefits these can bring to our people,’’ the NEPZA chief executive said.
On his part, Mr Suren Abeywickrema, Vice President & Country Head of Arise Integrated Industrial Platforms, who took delivery of the licence, stated that three enterprises that specilised in Cotton/Garment production and processing as well as that of Solid Mineral would be sited in the northern region.
He further said that additional enterprises with different specialties would be located in the eastern region while two others would be sited in the western region.
Abeywickrema explained further that the firm would kick-off its operation soon with the injection of 3.5 billion dollar into the economy with the commencement of construction work in proposed sites in the north.
Arise Integrated Industrial Platforms (AIIP) was established through joint venture between Equitane, formerly ATIF, and Africa Finance Corporation (AFC). Other shareholders are NorFund, NorFinance, FMO, and RBO Partnerships as well as African Development Bank (ADB).
Records indicate that Arise currently has minority stakes in nine financial institutions based in eight countries.
