By Charles Nwaoguji
IN a bid to fast-track its plan on economic diversification, the Federal Government is set to establish satellite industrial centres across the six geo-political zones of the country.
The establishment of these industrial centres, which would be anchored by the Nigeria Export Processing Zones Authority (NEPZA ), is expected to commence immediately after the passage of the 2017 budget.
Speaking with journalists in Lagos, the new Managing Director, NEPZA, Mr. Emmanuel Jime, said the establishment of the centres will serve as a catalyst toward the diversification of the economy and the promotion of backward integration.
“The present administration’s desire is for the economy to fully diversify and this is the reason the president has ordered the creation of the satellite industrial centres in the six geo-political zones across the country.
“And for this to happen, NEPZA has been given the directive to anchor this, which will take effect as soon as the budget is passed,” Jime said.
Jime who took over the leadership of NEPZA last week said the agency will do everything to put the country in the right direction with the diversification of the economy through manufacturing for domestic market and export.
“As we know, NEPZA is a creation of Act 63 of 1992, with mandate to licence, regulate and monitor free zones in Nigeria. Our plan now is to focus on the generation of employment, technology transfer and skill acquisition. Also, we will do everything to attract more Foreign Direct Investment (FDI) through aggressive marketing,” Jime said.
He stated that creating an attractive environment for manufacturers through measures such as tax breaks, export incentives and finances, is high on the government’s agenda in line with its broader aim of increasing local production.
“Producers need assurance that if they produce locally, their products will enter the local value chain, and we are createing the condition for that,” he said, adding that NEPZA will work hand in hand with other sister agencies to ensure smooth operations for manufacturers.
Jime said the primary engine for growth and development of any economy is the organised private sector, while government is required to provide the enabling environment. This, according to him, could be in the form of appropriate intervention namely, legal framework, policies and programmes that will support investment, provision of physical infrastructure like power and road network, security and a stable polity, among others.
“Moreover, since we operate a mixed economy, the government is required to intervene in the provision of social amenities or services, where it is proven that if left entirely for the organised private sector, the cost will be too heavy for the average consumer to bear,” he said.