President Muhammadu BuhariPresident Muhammadu Buhari has approved N50 billion for the Nigerian Export Processing Zones Authority, NEPZA in the 2018 budget to build key infrastructure that will attract foreign direct investments (FDI) into the country.
The Managing Director of NEPZA, Barrister Emmanuel Lyambee Jime made the disclosure yesterday in Abuja during an interactive session with Journalists. He said the President also granted the same amount to the Authority in the 2017 fiscal year thus putting the agency on the right track to attract investment and development to the country.
Jime disclosed that previous governments budgeted a paltry N2 billion yearly for the agency to develop infrastructure, which made it impossible for Nigeria to compete with other countries for investments.
With the improved funding of NEPZA, Jime, who was appointed Managing Director about seven months ago, noted that the infrastructure deficit is now being addressed.
“Nigeria currently have 34 free trade zones but only 14 are active.
Buhari approves N50 billion for NEPZA To build Infrastructure
