NEPZA harps on PPP to promote investment

Managing director of Nigerian Export Processing Zones Authority (NEPZA), Adesoji Adesugba has emphasised the need for effective collaboration between the government and private sector towards the promotion of investments such as the Lagos Free Zone (LFZ) operated by the Tolaram Group.

Adesugba stated this during NEPZA’S visit to the zone, which is the first privately owned special economic zone in Nigeria with an integrated deepsea port. The LFZ is home to several brands including Kellogg’s, Dano Milk, Power Oil, Colgate, BASF.

The NEPZA’S visit started with a detailed presentation by the LFZ business development and marketing manager, Chinju Udora, before progressing to site visits of the Lekki Deep Sea Port and the Power Oil manufacturing plant. Lekki Port, which is set to be fully operational by the fourth quarter of 2022, is seamlessly integrated within LFZ to connect it to regional and international routes.

Lagos free zone remains committed to enhancing the ease of doing business in Nigeria. The central processing centre that currently hosts agencies including the Nigeria Immigration Service (NIS) and NEPZA facilitates a single window system to meet all registration and day-to-day operational needs of businesses.

Critical ancillary facilities such as ready-built standard industrial facilities, warehouses, emergency response medical facility, dedicated truck pack and logistics support enable a cost-effective and hasslefree operational environment for businesses.

Adesugba said: “As a developing country, we need to focus on key aspects that can lead to accelerated economic development. NEPZA is an agency of government that is geared towards ensuring there is industrialisation using the template of the free zones and this is exactly what we are working towards.

“It is also important to stress that irrespective of legislation, the purpose and the mandate given to the free zone is that it must be a tax free zone. Therefore, no matter the complications, we have to make sure that ours is not different to others. We will also be upgrading the investment promotion unit of NEPZA to a full-fledged department, as it is crucial for the government and private sector to promote great investments such as the LFZ.