Walter Ukaegbu, Abuja
The Federal Government, Abia State government and Crown Realities Plc, have signed a definitive agreement for the development of Enyimba Economic City in Abia State.
The partnership is one of many under a programme to develop Special Economic Zone (SEZs) to world-class standards and position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally.
President Muhamadu Buhari, Abia State Governor Okezie Ikpeazu, and Minster of Industries, Dr. Okechukwu Enelamah, among others, signed the agreement for the Enyimba Economic City at the Presidential Villa in Abuja over the weekend.
Enelamah stated that the FMITI’s target is to aid structural transformation of the Nigerian economy by increasing the manufacturing sector’s contribution to Gross Domestic Product (GDP) to 20 per cent by 2025. The SEZs, like Enyimba City and two other pilots in Lagos and Katsina, are crucial to achieving this.
He further explained that the initial phase of the SEZ project is expected to create 1.5 million new manufacturing jobs, increase and diversify foreign exchange earnings by increasing manufacturing sector export to at least $30 billion annually by 2025.
It also includes creating local models of global best practice in provision of world-class infrastructure at competitive costs connecting SEZs to information and regional markets with transport links, uninterrupted power, ICT, water sewage and other services to ensure smooth and efficient operation of SEZ business.
It will also promote the cluster effect to be gained by locating similar export-oriented manufacturing business within the same locality.
Enelamah further explained that the first of the projects is to focus on the development and upgrade of SEZs in 12 states across Nigeria following which the initiative will be extended to other states in subsequent phase. This involves, among others, partnering with the private sector to develop new world-class SEZs in Abia, Katsina and Lagos as pilot projects to demonstrate proof of concept and provide models for future SEZ development Nigeria.
According to him, in Abia, accelerated pre-development work carried out by a multi-disciplinary team of consultants including Surbana Jutong of Singapore, CBRE, India, Allot Nigeria Limited, Roughton International, PrincewaterhouseCoopers, FBN and a number of others, has been completed.