Senate Committee Commends SIIFZ on Investment Initiative, Others

By Fred Ojeh

The Chairman, Senate Committee on Trade and Investment, Senator Francis Fadahunsi, has commended the board and management of Snake Island Integrated Free Zone (SIIFZ) for their improvement and the huge investments in the Zone, particularly SIIFZ’s contribution to the growth of the Nigerian Export Processing Zones Authority (NEPZA) by supporting one Single Free Zone Authority.

Fadahunsi made the commendation when the Senate committee and the board of the NEPZA visited the Snake Island Integrated Free Zone (SIIFZ) and other federal government agencies operating in the Zone in Apapa, Lagos State, recently.

He further appreciated the contributions of the various Free Zone Enterprises in the Zone through which revenue is generated for the government by agencies in the zone.

The lawmaker, however, urged NEPZA to push for the amendment of its Act to close out all issues militating against the operations of FTZs in the country.

Also, the Vice Chairman of the Committee, Ishaku Elisha Abbo, who also lauded SIIFZ’s investment initiative, stated that the oversight visit was aimed at ensuring consistency in the payment of appropriate revenue into the Federation Account, through the regulatory body, while ensuring that the Free Zone operates optimally.

In his remark, the Chairman of the Board of SIIFZ, Maher Jarmakani, highlighted the zone’s employment generation, infrastructure, and investments by registered enterprises in the areas of terminal operations, ship repair, heavy industries, pollution management, fabrication, and training among other sectors.

He said: “SIIFZ’s has contributed immensely to the Nigerian economy by attracting major investors and manufacturers who have provided mass employment, technology transfer, and capacity development to Nigeria.”

On a key policy matter, SIIFZ Director, Alhaji Yusufu Abdullahi, urged the Senate Committee on Trade and Investment to put an end to the confusion on free zone regulatory issues so that investors can be assured of the safety of their investment by protecting the current Free Zone Scheme under NEPZA.