If the current issues are swiftly resolved, the Nigerian Economic Zones Association (NEZ) is optimistic that over $75 billion in investments will be brought to the nation’s free trade zones around the country in the next two years.
More than 300,000 employment might potentially be produced, it was said.
The forecasts were presented Wednesday in Abuja during a roundtable with John Uwajumogun, Special Adviser to the President on Industry, Trade, and Investment.
Dlinesh Rathis, managing director of the Lagos State Free Zone, said in a presentation that over $50 billion in investments have already been attracted to the special economic zones throughout Nigeria.
He emphasized that the special economic zones have throughout the years produced at least 200,000 jobs.
“In the next two years, we expect more investors to come to this sector so that we can make up to $ 75 billion investments. But challenges like poor infrastructure, double taxation, lack of proper information as well as obsolete laws regarding the establishment of the zones schemes need to be addressed,” he stated.
Dele Kelvin Oye, National Chairman of the Nigerian Association of Chambers of Commerce and Industry (NACCIMA), also gave a speech during which he indicated the chamber’s willingness to support the free trade zones in order to promote economic prosperity.
