Tony Ogaga
The quest to transform the Nigerian economy into a manufacturing hub and an exporting economy is yielding results.
The Ogun-Guangdong Free Trade Zone (FTZ) located in Igbesa, Ogun State, is the platform driving foreign investment into the Nigerian economy. The project was born under a partnership with China under the Olusegun Obasanjo administration in 2006.
Officials of the House of Representatives Committee on Nigeria-China Relations, led by its chairman, Hon. Yusuf Yakub Buba, paid a visit to the facility recently.
Speaking to Daily Sun after inspecting the facility, Buba said: “Nigeria is working closely with China to grow the capabilities of local manufacturers and entrepreneurs to produce quality homemade goods for the local market. The objective is to position Nigeria as a major manufacturing hub servicing West Africa and beyond.
“The Speaker, Hon. Yakub Dogara, put together the Committee on Nigeria-China Relations to make sure the relationship between Nigeria and China is cordial and stable.
“China is the most populous country in the world while Nigeria is the most populous black nation in the world. Nigeria has a lot to learn from China.”
The Ogun-Guangdong FTZ is at a distance of 30 kilometres from Murtala Mohammed International Airport and is a brainchild of the China-Africa Summit Forum, which was held in Beijing in 2006. Its objective is the promotion of China-Africa economic cooperation and the intensification of commercial communication between China and Africa.
Floated in 2008, Ogun-Guangdong FTZ has attracted numerous investors and, to date, it boasts of 42 enterprises already registered. While 23 are already operational, 13 are gearing up to kick off operations, and six others are expanding the nature of their operations to meet new developments and challenges.
During the tour, members of the committee expressed satisfaction that more than 80 per cent of raw materials for the products on display were locally-sourced. They noted, however, that no indigenous company made the list of companies operating in the trade zone.
Managing director of Ogun-Guangdong FTZ, Mr. Wilson Wu, told Daily Sun that Nigeria has a lot of advantages to derive from the trade zone in terms of industrialisation, revenue generation, empowerment and technology transfer.
He said: “Our prospect is to build a 100 square metre city like Dubai or Hong Kong. We are going to have manufacturing companies, housing estates, a polo club and golf club all located here, among other amenities. I believe that, with the support of the Nigerian government, the National Assembly and the state government, we can make this dream come true.
“There are efforts in the pipeline for other Asian countries like Lebanon and India to take a portion in the free trade zone in order to boost industrialisation. Ogun-Guangdong Free Trade Zone has provided employment opportunities for thousands of Nigeria citizens, especially Ogun State, by employing over 5,000 indigenes.
“The free trade zone is a combination of an industrial development zone and tarrif-free zone, which is professionally programmed, guided and managed by a team of seasoned Chinese experts.”