NEPZA Approves $150m License for Abuja Industrial Park

James Emejo in Abuja

The World Free Zone Congress has elected the Managing Director/Chief Executive, Nigeria Export Processing Zone Authority (NEPZA), Dr. Olufemi Ogunyemi to the Board of the World Free Zone Organisation (WFZO) in Dubai.

This came as the authority approved a $150 million license for the Abuja Industrial Park (ZEBERCED) free zone, which is expected to boost the country’s manufacturing and export profile.

The new business ecosystem will be home to over 170 factories, generating 40,000 employment opportunities.

However, Ogunyemi’s election came through block votes from African participants, and their counterparts from Europe and Latin America at this year’s congress.

Ogunyemi said, “Nigeria remains a strong nation with an excellent image and the capacity to lead on the global stage. This was the story of my victory.

“My victory came after I had canvassed for the support of all African colleagues and members from some European and Latin America countries.

“The World Free Zone Organisation remains the melting point for Foreign Direct investment opportunities and therefore, Nigeria and other African countries shall seize this opportunity of my being on the board now to improve on strategies to attract more FDIs to the continent.”

In a statement issued by Head, Corporate Communications, NEPZA, Dr. Martins Odeh, he thanked everyone who played a part in his victory, vowing to reciprocate the gestures by contributing his quota to the growth of the organisation.

Meanwhile, speaking while handing over the operating licence to the Turkish owners of the private free zone in Abuja, the NEPZA boss revealed that the new business ecosystem on 250 hectares would be home to over 170 factories that will generate 40,000 employments.

He explained that the zone, which would be located in Idu Industrial layout Phase IV could greatly impact the nation’s economy through sustained export of manufactured goods.

On his part, Managing Director, Abuja Industrial Park, Mr. Adil Kurt, expressed satisfaction with the one-stop-shop policy of the federal government that sped up the registration process, adding that the zone would be the ideal hub for manufacturing and export.