The acting Managing Director, Nigerian Export Processing Zones Authority (NEPZA), Mr. Terhemba David Nongo, has said that about 350,000 direct jobs and over a million indirect employment opportunities will be created when the seven Economic Free Trade Zones (EFTZs) spread across the country are fully operational with world-class infrastructure and investments.
He said the lack of funding by previous administrations had constrained the viability of both the Kano and Calabar free trade zones.
But he said the administration of President Muhammadu Buhari has since inception improved funding to the free trade scheme with total budgetary support totalling N100 billion.
He said the funds had been used in upgrading facilities in Calabar free trade zone as well as completing the Kano free trade zone, which will soon be ready for commercial operations.
The provision of power, hw noted, remained the major obstacle in the operation of both Kano and Calabar zones, adding that about $15 million was required to provide 15 megawatts of power to both.
Speaking at an interactive session with journalists, Nongo said Buhari "has given us adequate funds. If we don't perform, hold us responsible because we are funded but we need to also market."
According to him, if the current funding pattern is sustained, "we should be able to complete about four trade zones in two years."
The current administration had announced plans to establish seven new free trade zones in Lekki, Ilorin, Makurdi, Sokoto, South East, North East and Ebonyi.
He also said designs for the Lekki, Makurdi, Sokoto and Ilorin zones were almost completed.
Providing further updates on the scheme, the NEPZA boss said products from the free trade zones will be strictly for exports in order to earn foreign exchange.
According to him, the Kano free trade zone is expected to be powered by December to commence full operation, adding that a total of N10 billion would be spent on it.
"We want to diversify from oil into manufacturing. That is our plan for the new NEPZA and for the new free trade scheme and it is fully supported by President Buhari. He has given us adequate funds. If we don't perform, hold us responsible because we are funded but we need to also market," he added.
He said:"There are two basic things in economic free trade zone which is the infrastructure and legal framework.
"We had the legal framework by then but didn't have the infrastructure due to poor funding."
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