FG Backs NEPZA’s Bid to Designate Varsities as Economic Zones

James Emejo in Abuja

The federal government has commended the Nigeria Export Processing Zones Authority (NEPZA)’s accelerated initiatives towards designating willing universities as Special Economic Zones.

The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, said the initiative would speedily reconfigure the country’s academic environment to match global trends and competitiveness.  

Speaking while playing host to the Vice Chancellor of the University of Abuja, Prof. Abdul-Rasheed Na’Allah, former Minister of Justice and Attorney-General of the Federation, Prince Adetokunbo Kayode (SAN) and the Managing Director/Chief Executive, NEPZA, Prof. Adesoji Adesugba, Adebayo pointed out that the country’s industrialisation process could become much more prolific and all-encompassing when the country is able to coordinate its universities to also operate as profitable industries through the free zone scheme.

He said, “The MD NEPZA has given a brief background of what this is all about, and let me assure you that it is something that the federal government will be interested in.

“It is indeed a unique idea to be able to make the academic institutions have the freedom to break away from the over-dependence on government for funding.”

On his part, Na’Allah said that the visit was a follow-up to a preliminary technical session held with NEPZA recently, adding that both parties had worked assiduously in ensuring that the project was realized in the short possible time.

In a statement by the Head, Corporate Communications, NEPZA, Dr. Martins Odeh, the VC explained that the university was endowed with a number of solid minerals at commercial quantities, adding that opening the campus space for external investments using the free zone concept would be a landmark achievement.

He said, “We want the university to become the richest institution in Nigeria. We will open the space for tourism, estate, mining, agriculture, car production plants, dairy farms, light rail services, etc. Our proximity to the city and the airport makes movement seamless. This is our thinking; this is our project.”