Connect with us
Paramount
Advertisement
Ican
Advertisement
IZIKJON
Advertisement
Stanbic IBTC
Advertisement
Polaris bank
Advertisement
Binance
Advertisement
Esetech
Advertisement
Patricia
Advertisement
Fidelity ads
Advertisement
app

Business

Taraba to get free economic zone – NEPZA

NEPZA has announced it will soon launch a special Economic Zone in Taraba state.

Published

on

Taraba to get free economic zone - NEPZA

The Nigerian Export Processing Zones Authority (NEPZA) announced it will soon launch a special Economic Zone in Taraba state.

This was disclosed Thursday by the NEPZA Managing Director, Prof. Adesoji Adesugba, during a meeting with Gov. Darius Ishaku of Taraba in Abuja.

READ: Buhari approves free business name registration for 250,000 SMEs

What you should know 

Taraba is home to the 3.05GW Mambilla hydropower plant project being developed on the Dongo River near Baruf, in Kakara Village of Taraba State, Nigeria.  

Expected to commence operations in 2030, Mambilla will be Nigeria’s biggest power plant, producing approximately 4.7 billion KWh of electricity a year.

READ: NEPZA licenses 3 new Free Trade Zones in lagos

The project is estimated to cost $5.8 billion and will generate up to 50,000 local jobs during the construction phase. 

NEPZA said the FG is working to diversify the economy and wants to boost the non-oil sector’s contributions to GDP. They added this would be done with the establishment of Free Economic Zones around the nation.

Free zones all over the world are used to accelerate development and they serve as catalysts for economic development,” NEPZA said.

READ: Senate to probe NEPZA over 14.3 billion illegal transfer

“Taraba is the second largest state in Nigeria and we shall work assiduously with the state to create the economic zones.

“I am actually pleased that the state government has created an enabling environment for businesses to strive.

bitcoin train

“We will constitute a working group to ensure that this is realized as soon as possible.

Binance

READ: AfDB to support Nigeria’s agro-processing zones with $300 million 

“These special economic zones when established will help to ignite activity in the agricultural and mining sectors, and jobs will be created for our youths, while government generates revenue,” he said.

Jaiz bank ads

Adesugba said that the Federal Government’s position was to ultimately deepen its collaboration with relevant stakeholders – especially the private sector, in the quest to develop special economic zones across the country.

The Governor of Taraba added that the FEZ would be vital in improving agriculture and tourism in Taraba State.

READ: Power: Mambilla Power Project not prioritised by Ministry of Power for 2021 Budget – Finance Minister

Coronation ads

We are ready to work with NEPZA in ensuring that a free zone is established in our state so that the opportunities it offers in agriculture, mining, and tourism can be explored.

“We are currently working towards expanding our Airport and that will go a long way in boosting the economic activities of the state.

“Taraba is bigger than some countries in size and has a population of over 3.6 million people. So, creating such a free zone will help mobilize our youths and turn them into productive people,” he said.

app
Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement




Advertisement

Nairametrics | Company Earnings